Success Story Of Ritesh Agarwal, Founder Of “OYO ROOMS”

In fact, success is not a sign of age, it has been proved, by Ritesh Agarwal, who at the age of 21, made a company of nearly 400 crores, not only surprised the experienced businessmen and investors but also for other people Set an example

… Ritesh Kumar, who lives in Orissa, has started flying OYO ROOMS company at an early age even before the years it takes ordinary people to understand the business, understanding the nuances of the business Riteish started from an early age Had done it.

He belonged to a business family since childhood, so he always had a tendency towards business. He was born on 16 November 1993 in a Marwari business family of Beasam, Odisha.

Ritesh Aggarwal did his studies from Odisha till his 12th, after which he decided to do engineering and he came to Kota where he loved to roam free after his studies.

Gradually Ritesh’s interest started increasing in travel. During this time, he had to face a lot of problems regarding the stay, due to being a business oriented since childhood, he decided to convert these experiences into business, hence Ritesh left his studies in the middle.

And Ritesh ORAVEL STAYS PVT. LTD. Launched the company which helped people solve travel related problems but this company of Ritesh did not support them for long and it flopped.

But still Ritesh did not lose courage but found a way to succeed from this failure and started the OYO ROOMS company, which led him to join the list of big businessmen of the country.

Also Read: https://theentrepreneurstory.com/success-story/facebook-founder-mark-zuckerberg-success-story/

ORAVEL STAYS PVT. LTD. to OYO ROOMS

In 2012, when Ritesh laid the foundation for his first start-up Oravel Stays. Ritesh’s business company was running according to his planning, whose main goal of the company was to provide good rooms at affordable prices to the passengers.

The best thing that could be easily booked online was that they got a 30 lakh fund from Venture Nursery, a company investing in new startups.

After which Ritesh put his business idea in front of the global competition Thaal Fellowship. After which he received assistance of 66 lakh rupees. The business was going on according to Ritesh, Ritesh was quite serious about his startup, and he was very excited by the successes Ritesh gave to his new startup in a very short time to make a better hold in the business and he started his start- Started working closely and carefully.

But this business model of Ritesh was not getting that much profit and Ritesh’s first start-up continued to suffer a loss, as Ritesh was thinking, just as he used his wisdom to take the business forward. The situation of the company was becoming more and more useless day by day.

Eventually, Ritesh had to shut down the company under compulsion, but he did not give up even after the company was shut down, but taking inspiration from this, he revisited his ideas and decided to take the business forward.

And revisited to provide good rooms to the passengers on a low budget, along with it, made many major changes to keep the facilities of the passengers in the Oravel Stays, then launched Oraval in the year 2013 but changed the name to Oyo Rooms. Diya Oyo Rooms which means “your own room”.

The purpose of which is to provide the best facilities to the passengers at low prices. His move helped him succeed and shortly after the start of the company, he also got a fund of 30 lakhs from Venture Nursery, a company investing in new startups, since which the company has been consistently earning a good profit.

OYO ROOMS is famous not only in the country but also abroad, whose credit goes to the young businessman Ritesh.