2. RITESH
AGARWAL
Founder & CEO of OYO Rooms
An Indian Entrepreneur and
Worlds Youngest CEO at 17
Born at Bissam, Cuttack, Odisha
Net Worth $1 Billion
CEO – OYO Rooms (2013)
OYOs Current Valuation nearly 360Cr
Board Member- Confederation of Indian Industry
Belongs to a Marwari Family
Loves Coding and to Travel
First Asian to achieve the ‘Under 20 Peter Theil
Fellowship’
3. RITESH
AGARWAL
Founder & CEO of OYO Rooms
An Indian Entrepreneur and
Worlds Youngest CEO at 17
Born at Bissam, Cuttack, Odisha
Net Worth $1 Billion
CEO – OYO Rooms (2013)
OYOs Current Valuation nearly 360Cr
Board Member- Confederation of Indian Industry
Belongs to a Marwari Family
Loves Coding and to Travel
First Asian to achieve the ‘Under 20 Peter Theil
Fellowship’
OYO: On Your Own
Founded: By Ritesh Agarwal in 2013
Headquarter: Gurgaon, Haryana, India
Area Served: Asia, America and Europe
Funding: Soft Bank Group, Lightspeed
Venture Partners and Sequoia India
Website: www.oyorooms.com
4. HOW DID HIS JOURNEY BEGIN ?
• Born in a Business family at Bissam, Cuttack and
attended Scared Heart School,Rayagada
• He was different from rest of his friends, his fun and
learning was in Computers
• Try hard to find opportunities to make mistakes, to
learn new cool stuffs
• Doing that he gaineda keen knowledgein software
• Started coding at age 8, software become his love
• In 2009, Ritesh left Kota for IIT, and took backseat for
Bansal Tutorials, that his dad got him enrolledinto
• Rest of the time he used to chilland travel around
• Started writing a book- ‘Indian Engineering Colleges: A
complete encyclopediaof top 100 engineering colleges
5. HOW DID HIS JOURNEY BEGIN ?
• Born in a Business family at Bissam, Cuttack and
attended Scared Heart School,Rayagada
• He was different from rest of his friends, his fun and
learning was in Computers
• Try hard to find opportunities to make mistakes, to
learn new cool stuffs
• Doing that he gaineda keen knowledgein software
• Started coding at age 8, software become his love
• In 2009, Ritesh left Kota for IIT, and took backseat for
Bansal Tutorials, that his dad got him enrolledinto
• Rest of the time he used to chilland travel around
• Started writing a book- ‘Indian Engineering Colleges: A
complete encyclopediaof top 100 engineering colleges
• At age 16, Ritesh was choosen among 240 childrento be
a part of Asian Science Camp held at TIFR, Mumbai
• The camp was an annual forum for pre-collegiate
students who aimed at promoting discussion for the
better of science in the region
• During that time, Ritesh found free time and started to
travela lot and stayed in PGs Budgeted Hotels
• Stay at odd bed and breakfast places and attend events
and conferenceto meet entrepreneurs
• Used to sneak into the events and conference,as he
couldn't afford to the registration cost
• And there it all started
CONTINUED…
6. LIFE AS AN ENTREPRENEUR
FORMATION OF ORAVEL STAYS
In 2011, Ritesh movedDelhi to start something of
his own
Money was not a problem for him as he was getting
a good pocket money of amount Rs-15,000/month
Ritesh felt that budget hotels in India didn't even
meets the basic needs of traveler
Capitalizingon this opportunity, he started his first
venture in 2012- “ORAVELSTAYS”
Meant for the destination for short term and mid term
rentals for bed and breakfast joints, private rooms and
service apartments
Got funding of Rs-30 Lakhs from VentureNursery, an
Investore who nurture Startups
7. With new found confidence, he started working rigorously, but his business does not seems its picking up
After repeatedtrial to pick the business up, things were not falling in place
Ritesh evengot Manish Sinha Gurgaon based Cinnamon stays, as their co-founder but unfortunately it didn't
help and turned out to quit the company
Eventried to replicateAirBnB model, but that didn't workand the company was not able to pick
substantial transaction
With sufficient money in pocket, started working in new found idea
8. TRANSFORMATION TO OYO ROOMS
After quittingORAVELS STAYS,Ritesh went into
thinkingmode and remind the accommodation issues
he used to face
There many a time he was sold a crappy place and
huge amount and a nice place in little amount
This got him motivated again, to create another social
community to bring information about all good places
together on one platform
At last he presented his new business model and in
2013 he re-launched ORAVELSTAYSas OYO ROOMS
9. OYO: ON YOUR OWN
OYO was nothing but an idea to create India's largest chainof efficient young standardized
rooms withno add on with an affordable prices
OYO Rooms reached out to the prospective hotels or hotels owner could also reached out to them
an OYO's Team would visit the place, audit the hotels to understand the changes that are required
to standardizedthe property as per OYO standards and shares the same with the hotels
After the launch, Ritesheven got on board Bhawna Agarwal, former CEO at e-commerce firm
SeventyMM for criticalbusiness advising
This time they decide to play in Smart and Safe way, and made sure to leave no stone unturned,
and tied-up with dozen number of hotels and withtheir help offered rooms to customers
This planned made a success and eventually had to increase their teams of 2 to 15 and then to 25
In 2014, raised Rs-4 Crore from Lightspeed Venture Partners and DSG Consumer Partners at
a pre-money valuation at Rs-14 Crore
10. ACCOMPLISHMENTS
Awarded the TiE-Lumis Entreprenuerial excellence Award (2014)
The First resident Asian to win under 20 Theil Fellowship (2013)
Named one of the top 50 entrepreneursby TATA firstDot Awards(2013)
Finalist of Global student Entrepreneurship Awards India
Named one of the “ 8 Hottest Teenage Startup Founders in the World’ by Business Insider (2013)
Worlds youngest CEO at 17 ( recognized at 16)
11. CONCLUSION
IN THE BEGINNING THE WILL CRITISIZE YOU, THEY WILL JUDGE YOU
BUT THEY DON’T KNOW YOU, WHAT ARE YOU CAPABLE OF
THEY ONLY THING YOU NEED TO DO IS
“BELIEVE IN YOURSELF”
12. “It is extremely
important to build
something that a 100
people absolutely love
using rather than make
something that 1000
people would just, kind
of, like.
’
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