What do you do by renting a room? That’s what people used to say; Angry and set up an Rs 8,000 crore company..
It is said that if you want something wholeheartedly, it tries to fulfill it for you. Despite the dialogues in the film, Ritesh Agarwal of OYO Rooms has proved it to be true. You can imagine the boy who started a company at the age of 17, today he has become a company worth thousands of crores.
Ritesh Agarwal was born on 16 November 1993 in Bisam Cuttack, a small village in Odisha. Ritesh Hurun, founder of Oyo Rooms, has also joined the Global Rich List. According to this list, Agarwal is the youngest billionaire in the world. At the age of 24, Agarwal had assets worth around Rs 7,800 crore, from which you can gauge his success.
Ritesh did his early education from a school in his own district and then went to Delhi for further studies. In Delhi, Ritesh enrolled in the Indian School of Business Academy but something else was going on in his mind and left midway. Ritesh has been idolising Vedanta’s Anil Agarwal, Steve Jobs, Mark Zuckerberg and Bill Gates since childhood.
The idea of business came from a passion for travel –
Before starting Oyo Rooms, Ritesh started an online room booking company called Oraval Stays in 2012. Ritesh’s idea was so unique that inspired by it, Gurgaon-based Manish Sinha invested in Orwal and became a co-founder. At the same time, in 2013, Ritesh changed the company to OYO Rooms. It is said that Ritesh is very fond of travel and this hobby gave him a unique business idea.
It was around 2009 when he got a chance to go for a walk in the mountains. Walking around, he realized that it was very difficult to arrange the room. Sometimes you get a bad room by paying more, sometimes you get a good room by paying less. It was from here that a unique idea of business was born in his mind, and he created a successful company in the form of OYO Rooms.
Ritesh is currently leading a team of people who have studied in institutions like IITs and IIMs. In an interview, Riteish had said that dropouts are mocked in India and they are not considered intelligent at all. He expressed confidence that more will make a name for themselves in India in the next few years.
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