lifestory and business model of ritesh aggarwal... oyo rooms.

3. RITESH AGARWAL

4. INTRODUCTION
 Ritesh Agarwal is an Indian entrepreneur, the
founder and CEO of OYO Rooms - the fastest
growing Branded network of hotels online.
 He started his entrepreneurial journey at the
age of 17 and is considered to be one of the
youngest CEOs in India.

5.  Ritesh Agarwal 22 year old owner of Oyo Rooms.
 Droped of out college in 2012 when he was 17 year
old for his startup.
Founder

6. OYO company profile:
 Oyo: on your own.
 Founded in 2012.
 Privately owned.
 Estimated returns per annum: $3
million.
 Number of employees: over 1.5 to 2k
employees.
 Its total valuation is $850 million.

7. Education:
 Born on November 16, 1993, in Bissam
Cuttack in Orissa and belong to a business
class family.
 He studied in St.Johns Senior Secondary
School. From 2009 to 2011.


8.  In 2009, he started writing a book– ‘Indian
Engineering Colleges: A Complete
Encyclopedia of Top 100 Engineering
Colleges’. This book turned out to become
huge on Flipkart and was sold out in a while
too.
 When he turned 16 , Ritesh was chosen among
the 240 children to be a part of the Asian
Science Camp held at the Tata Institute of
Fundamental Research (TIFR) in Mumbai.

10.  In 2011, Ritesh moved to Delhi with intentions of starting
up something of his own and at the same time to prepare
for SAT to move to the US for further studies.
 He had joined the University of London’s Indian campus,
but just after three days of joining he felt that he couldn’t
continue.
 Soon, he started travelling extensively across india at the
age of 17 and stayed in PG’s , budget hotel due to his stay
experiences he felt to launch Oravel stays in 2012.

12.  Ritesh during his days had seen and
always felt that budget hotels in India
didn’t even meet the very basic needs
of a budget traveller. Hence,
capitalizing on this opportunity, he
started his first venture in 2012 –
Oravel Stays! It was an aggregator of
bed and breakfast stays across India.

13.  In a matter of no time, he also secured
funding of Rs 30 lakhs from Venture
Nursery, an accelerator firm which brought
together a bunch of storied investors to
nurture start-ups.
 With sufficient money in his pockets, 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
intended for students under the age of 20. He
managed to reach amongst the top ten
winners who received a sum of $100,000
[over two years (about Rs 2.7 lakhs / month)]
as well as guidance and other resources, to
drop out of school and create a start-up, from
PayPal co-founder and Facebook investor –

14. Funding
 2012: OYO Rooms got its first round of
funding from Venture Nursery in December
2012.
 2014: Another round of funding came from
Light speed Ventures in February 2014.
 2015: In March 2015, OYO Rooms raised
$25 million from Light speed, Sequoia and
others.

15. ORAVEL TO OYO ROOMS
 Oravel Stays Pvt. Ltd was his first startup in
the year 2012. Oravel was designed as a
platform to enable listing and booking of
budget and premium accommodations.
 In simpler terms, it was meant to be
destination for short and midterm rentals for
bed and breakfast joints, private rooms and
serviced apartments.

16.  Soon, Agrawal realised that just a combination
of bed and dinner would not fulfill the
expectations of budget travelers in India so he
transformed Oravel stays to OYO ROOMS,
2013 with the key proposition of offering
affordable and standardized accommodation.

17. Contd…
 OYO Rooms is India's largest branded network
of budget hotel chain .It currently operates in
more than 160 Indian cities including major
metros, regional hubs, leisure destinations and
pilgrimage towns ,with a current valuation of
nearly 360Cr.

19.  OYO Rooms mobile app has been launched
downloaded more than 160,000 times and
more than 20,000 bookings have been made so
far.
 The app ranks amongst the best-rated apps on
Google Play Store and has also been listed as
one of the top three apps in the ‘Travel &
Local’ category.

20. Business model of oyo:
 The business model of hotel aggregators
is simple as they simply connect the
guest (customer) with the hotel by listing
hotels on their website and take a
commission as their revenue. Many a
times they work out on a deal with the
hotels with a minimum order guarantee
per month and hence are able to provide
discounted rates and deals on the room
rates compared to the rates provided by
the hotels directly to a normal guest. This
makes them lucrative for guests.

22. AWARDS AND RECOGNITION
 First resident Asian to win Thiel Fellowship, 2013.
 Top 50 Entrepreneurs in 2013 by TATA First Dot powered by
NEN Awards.
 TiE-Lumis Entrepreneurial Excellence Award in 2014 &
Business World Young Entrepreneur Award in 2015
 Finalist of Global Student Entrepreneurship Awards-
India.

23. His success mantras:
 Its important to innovate!!!
 Try to solve a problem instead of
avoiding it.
 Remember the going will get tough!
 Be ready to face criticism.

24. Few qualities we can observe:
 Determination.
 Courage.
 Hardworking.
 Single mindedness.