We all know Kylie Jenner, which is the world’s youngest self-made billionaire. But do you know that after her, who’s the next youngest billionaire ruling the charts and magazines? It’s none other than Ritesh Aggarwal- the founder and CEO of Oyo rooms!
India has produced many revolutionary startups in the past decade, and one of them is Oyo rooms. It is a network-chain of hotels under which more than 8 lakh hotel rooms! It is not only limited to India but also expanding its business to Malaysia and other countries as well. Oyo rooms basically have a motive of standardizing the hotels in the non-commercial service sector.
Ritesh’s early life
India’s one of the most successful business ventures provides hotel rooms with utmost cleanliness and best hospitality. Ritesh, who is merely 26 years old, had a vision of doing something extraordinary since the beginning. He was born in Cuttack in a middle-class family and was not from a business-oriented family.
Following his passion for entrepreneurship, he enrolled at the Indian School of Business & Finance, Delhi, and yet left college in the middle of starting his own company. He was hesitant about his decision but made difficult decisions to achieve his dreams.
Travel to Oyo journey
Ritesh Agarwal was a lone traveler and traveled around the country before launching OYO, and during such a trip, he got into trouble with budget hotels. So when he was just 17 years old, he embarked on an Oravel trip, which he compared to Airbnb. However, it later merged into OYO rooms. He found that the problem with budget hotels was more significant than just the availability, so he introduced OYO to combat other issues.
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Ritesh Agarwal, only 26 years old, has some awards and certificates for his name, some of which are:
- Forbes “30 under 30” in the consumer technology sector
- NEN awards empower-The top 50 entrepreneurs in 2013 by TATA First Dot
- TiE-Lumis Entrepreneurial Excellence Award in 2014
- Business World Young Business Award
He launched his book at a very young age- A complete Encyclopaedia of the top 100 engineering colleges, which later became a best seller. Agarwal started writing code at the young age of eight. At the age of 16, he had the opportunity to be one of the 240 students who were a part of the prestigious Asian Camp, which TIFS organized on the Think EDU panel, 2014 and is a regular at VCCircle events.