Ritesh Agarwal-Succes Story Of OYO Rooms

The teenage boy Ritesh Agarwal is the  young founder and CEO of Oyo Rooms,The fastest growing branded network holders offline and online.The current valuation of over 10 Billion Dollars.Oyo Rooms does nothing out of the box but provides travelers the coolest yet cheapest and standardized budget rooms .Personally, Ritesh with his common man qualities of tall,thin and scruffy look isn't easy to find in the crowd but mind you this is also  the look of  founder,the person as much as the 16 hours a day to make his dream comes true and has been through a vile journey. Today we talk about a  success story of this mastermind teen behind the Oyo Rooms Ritesh agarwal.

Ritesh was born to a buisness family in Orissa and attended  the  a school in the Raigarh District (Orissa ).During the growning up days in Raigarh it was all about fun and learning for him.But his ways are rather unconventional from those of the other kids.His childhood goes playing around the computers.Playing with computers he gain his interest in the softwares.To know more about softwares he brought up books of programming form his elder brother. Interestingly he started coding at the age of 8. So software had obviously become his first love.
           Later in 2011,Ritesh moved to delhi with strong intentions of standing up something of his own and at the same time to also prepared for SAT  to move to the US for further studies but fortunately or unfortunately SAT never happened. Hence he used to do nothing but to know about entrepreneurs ,startups,businesses and specially Airbnb.Ritesh later join the university of London's course at Indian Business School but just after 3 days of joining he couldn't control his craving to start adventure .He took a days leave to work on a project and finally he never went back .Ritesh always felt that budget hotels in india didn't even meet the basic needs of a budget traveler. Hence capitalizing on this opportunity he started his first venture in 2012 and called it ORAVEL STAY .It was a aggregator of bed and breakfast stays accross  india and matter of no time he also secured funding of 30 Lakhs from  venture nursery.With sufficient  money in his pocket he started working on his new found interest and at the same time he also presented his idea at the thiel fellowship ,a global contest for students under the age of 22. He managed to reach amongst  the top 10 winners  and received sum of 100 thousand dollars form the Peter thiel,the cofounder of PayPal and early investor of facebook.With this new found confidence he started working even more vigorously. But to his hard luck that business  model didn't seem to be picking up. And as much as he try to fix things,things just weren't falling in the place.Ritesh even got manish sinha of gurgaon based Azar cofounder but  unfortunately he also quit the startup.That is when ritesh went in to the thinking mode and realize  that the biggest pain while traveling was to find a good,affordable and the most importantly available hotel to stay in.But like always most of us ended up staying a crappy place with equally crappy food which  spoils  the whole trip .This got a motivated again to create a online yet social community to bring information about all good places together on one platform . An as a last result Ritesh change his present buisness model and he relaunched Oravel as a OYO ROOMS.The name oyo means on our own and was nothing but an idea to create India's largest chain of efficient young and standardized budget rooms.Later in 2014  the  company raised 4 crores from the lightspeed venture partners and DSG consumer partners at a premoney valuation of 14 crores .What motivated Rithesh even more was the fact that the company was clocking gross bookings of more than Rs.1 crore per month .Since then Oyo Rooms has went on to become India's first technology driven network of standardize budget hotels. And has also widely expanded its presence to major cities like delhi,Bangalore, mumbai and hydrabad. Android app of oyo rooms has over 10 million  plus downloads.
Ritesh success story is a right example about how young minds can build bigger dreams and  make it happen  for all who wish succes in life .The journey of ritesh agrawal is truly amazing.