Biography of Ritesh Agarwal in english

How a 24-year-old Boy made 35000 crore company -The story of Oyo rooms founder Ritesh Agarwal

Can you believe that at such an age when we and you prepare yourself for the whole life or when we are all languishing in the freezing quilts of cold weather and when we drunk on our mind after damping the moist air in the rainy days At such a delicate end of life, a young man has laid the foundations of a company of more than 360 million working every day for 16 hours every day to dream something bigger?

It has been shown that Ritesh Agarwal of Orissa; At the young age of 20, the company named Oyo Rooms started to surprise and also experienced a large number of experienced entrepreneurs and investors. The main objective of the Oyo Room is to provide travelers with the best basic amenities at affordable prices in the hotels of the big cities of the country.
image source: forbes.com

Individually, Ritesh is a common-minded young man. Look like a thin, long and scattered hairy student, like any college student. But sometimes people who look ordinary are doing things that you do not expect. Ritesh is also such a young entrepreneur. Those who have only 21 years of age at the age of their experience, the ability to identify the right opportunity and the hard work give their views the reality.

Ritesh Agarwal's startup journey


Ritesh Agarwal had started working to think and understand the business at a young age. The biggest role in this was his family's background. He was born on 16th November 1993 in a business family of the district of Cuttack Bisam in the state of Orissa. Twelve people studied in the district - at Sacred Heart School. After this, his wish was admitted to IIT. For the preparation of which they came to the quota of Rajasthan. They had only two jobs in Kota- one reading and the other, whenever the holidays get plenty of travel. That's why their interest started growing in travel. In the quotas, he wrote a book - Indian Engineering Collages: A complete Encyclopedia of Top 100 Engineering Colleges and as it seems to be the name of the book, this book was about 100 most prestigious engineering colleges in the country. This book was very liked on the country's most famous e-commerce site Flipkart.

At the age of 16, he was selected for the Asian Science Camp held in Mumbai-based Tata Institute of Fundamental Research (TIRF). This camp is an annual symposium where scientists from Asian descent find solutions to problems related to any particular region, with the help of science and technology. Even here, they used to travel quite a lot during the holiday days and use affordable hotels at affordable prices. Already Ritesh's interest was very much in business and he wanted to do something in this area. But they were not clear about what to do business.

Many times he used to come to Delhi to catch a train from Kota and stay in cheaper hotels like Mumbai so that he could meet new young entrepreneurs and start-up founders by joining the youth and entrepreneurs of the youth and entrepreneurs in Delhi. Many times the registration fee for joining these events would be so high that it would be difficult for them to get it. So sometimes they would go stealthily in these events! This was the time when he thought of giving the poor experiences of cheaper hotels used for the stay during travel time to give their business a look.

Launches from Oravel Stays
image source: slideshare.net


In the year 2012, he launched his first start-up - Oravel Stays. The purpose of this company was to make the travelers available to the rooms at short prices for short or mid-term. Whoever could easily reserve online. Within a few months of the start of the company, they got a fund of 30 lakh from VentureNursery, a company investing in new startups. Now Ritesh had enough money to pursue his company. At the same time, he placed this business idea before Theil Fellowship, which is a global competition organized by PayPal's co-founder Peter Heel's "The Thale Foundation". Fortunately, they were successful in achieving the tenth position in this competition and they received as much as 66 lakh rupees as fellowship.

In a very short time, he was very excited about the successes he got from his new startup, and he started working more closely on his start-up. But they do not know why their business model failed to give the expected benefit and "Oracle Stay" slowly went to the deficit. The more they tried to improve the situation, the condition worsened, and in the end, they had to close the company temporarily.

When Oravel Stays Becomes Oyo Rooms



Ritesh was not disappointed with the failure of his start-up, and he thought again to consider the plan adopted by himself to overcome its shortcomings. From this, they realized that there is no problem in getting or getting no room in cheap hotels in India, the fact is that hotels are unable to provide the best funding facilities in less money. While thinking, he remembered the experiences of staying in Budget Hotels during his travels, when he was offered a lot of money and sometimes got dirty and stubborn rooms and sometimes found comfortable and comfortable rooms in less money.

These things prompted them to again make new changes in the Oreg Stays and keep in mind the features of Travelers in a new way, and then what was the launch of Orval in 2013, but this time the new name and purpose with. Now Oracle's new name was Oyo Rooms (Oyo Rooms). Which means "Your own room" The purpose of the Oo Room is not to fill the room at any hotel. Now he took care of the hotel's rooms and the quality of the basic facilities there, and for this, the company also fixed some standards. Now the hotel that wants to offer its services to the Oyo Rooms. He has to first contact the company. After this, the employees of the company visit the hotel to inspect the rooms and other facilities there. If that hotel meets all the standards of Oyo, then it can connect with the Oyo, otherwise not.

The success of Ritesh Agarwal



This time Ritesh did not want to repeat the mistakes earlier. That's why he tried to find out the best way to get business from the business firm - SeventyMM CEO Vyam Agrawal. These advice further helped them to make good decisions for the company. Initially, the Oyo rooms continued to receive customers so they compromised with nearly a dozen hotels.

This time, Ritesh's hard work brought color and everything went as they wanted. Travelers like this service with great features at affordable prices. Gradually, the number of employees in the company was increased from 2 to 15, 15 to 25 to fulfill the demands of customers. Currently, there are more than 1500 employees in the Oyo.

One year after the company was set up, in 2014, two big companies - Lightspeed Venture Partners (LSVP) and DSG Consumer Partners - invested 4 crores in Oyo Rooms. In the current year 2016, Japan's multinational company Softbank has also invested 7 billion rupees. Which is a huge achievement for a new company.

The thing that has inspired Ritesh Agarwal to further the company is that the booking of more than Rs.1 crores by the customers every month.

In just over two years, Oyo Rooms has become a hotel providing rooms for the largest comfort and cheap prices of the country with a chain of more than 15000 hotels (1000000 rooms). This company of Ritesh Agarwal is one of India's top start-up companies. This year, the company has started its services in Malaysia and is also going to reach out to other countries in the coming time.

On (July 2, 2016), the prestigious international magazine GQ (Gentlemen's Quarterly) has included Riteish Agarwal in the list of 50 Most Influential Young Indians: Innovators. This list covers young innovators who make life easier for people with their new thinking and ideas.


Biography of Ritesh Agarwal in english Biography of Ritesh Agarwal in english Reviewed by Shivam kumar on 10:56 PM Rating: 5

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