The mind behind OYO rooms

Ritesh Aggarwal a young guy who had changed the way of booking hotels and rooms and brought better quality hotels in front of us. Today we were going to talk about the success story of OYO rooms. Ritesh started his company when he was a teenager at that time most teenagers get busy in choosing there college or Stream in which they want to grow bigger. Just like any other successful startups, it has also struggle and hard work of its founder. OYO rooms now expanded to almost all cities of India. So without any further rubbish let's start.

OYO Rooms Success Story

OYO Rooms founder- Ritesh Aggarwal

Ritesh Aggarwal founder of OYO rooms was born on the 16th of  November in the year 1993. He is from a middle-class Marwari family who was living in Orissa. He started his school in Orissa. Ritesh has a business family background already before he becomes a millionaire but his family's financial conditions are not so good but his family always showed trust in him and supported him to become an entrepreneur.  He was just 18 years when he launched the website which enables its users to book budget hotels. Ritesh has a very high interest in coding he started coding at the age of  8, he borrows coding books from his elder brother and started to learn to code. He learned basic programming languages like PASCAL and Basic in his school after it he chose to code in  11th class but learned other programming language and computer engineering principles by Google. There was a time when he wanted to sit an engineering entrance exam and now his company is one of the high valued startups in the world.

Before the OYO rooms and Oravel Stays Ritesh used to sell sim cards for its basic needs but he didn't tell about this with his family because of fear that his family will think that he has quite his entrepreneurial journey. When he was preparing of IIT entrance exam in Kota Rajasthan found that it is very difficult to find hotels having good facilities even some hotels do not provide basic facilities to there customers also hotels booking prices are quite high. Since Ritesh has an entrepreneurial mindset, therefore, he decided to solve this problem. He dropped out of college and started his entrepreneurial journey by launching his first startup named Oravel stays which enables there users to book hotels online and shows them a list of hotels and their prices. He traveled for very durations and stays in many hotels. He tells hotel mangers to stay in there hotels for free and he will list his hotel and pricing on his website. Some hotel owners agreed to his offer and some not. With a thought in mind to provide good hotel rooms at a good price Ritesh worked very hard and finds new hotels and lists there rating on his website. Very soon his startup is taking up the growth speed. Therefore he remained his startup from Oravel Stays to OYO Rooms. In a very short period of time, Ritesh raised funding of 30 lakhs from Venture Nursery and accelerators firm and after it, OYO Rooms started growing exponentially. His startup was listed in the top 10 Startups whose founders were under 30 years old. He received $100,000 from the co-founder of PayPal who has also invested in Facebook when it has very few investors.

This funding and growth boosted his confidence so he started to work on his company more. But as much as his team and he tries to fix the errors in the company things become worse. Due to his bad luck, the OYO room's business modal is not giving sufficient money from which he can survive the company. During this hard situation, Ritesh thought to get a co-founder and he got Manish Sinha who lives in Gurgaon as OYO Room's co-founder. After some time Manish Sinha quit the company probably the reason was he could not able to make a profit from the revenue model of OYO Rooms nor he was able to raise funds for it. But in 2013 Ritesh Tweeted his new business model for OYO rooms. He relaunched Oravel Stays as an OYO room. The full form of OYO rooms is "ON YOUR OWN" which means you can now book your hotel without any third party which worked. The new business model gave OYO rooms a very big boost in its growth and the company started expanding to more cities. Now you can book Oyo rooms in almost every city of India. In 2014 Company raised a funding of 4 cores from LightSpeed Venture Partners and DNG computers. OYO rooms are India's one of the biggest startups and India's largest chain of budget rooms.

At the present time, there are many websites like OYO rooms which allows you to book rooms and hotels some of the sites make my trip, Cleartrip and many more.

Ritesh Aggarwal's achievement

The Book "kaleidoscope" is a book that has Ritesh Aggarwal's achievements and it is also written by him. This book contains about 25 award-winning short stories . These stories are also nominated in the SpringTide contest which is an online contest. Ritesh Aggarwal likes to play basketball when he gets free from his work. He is one of the biggest entrepreneurs who has aged less than 30. There are many awards which are won by him not only for OYO rooms but for many other achievements and no doubts he changed the way of booking hotels and rooms not only in India but in other countries also.

From this success story of Ritesh Aggarwal and oyo room, I hope you got inspired by this article and you are also ready to build a new innovative and revolutionary startup. Ritesh has faced many ups and downs, he faced many rejections and many times he failed to raise funds for his company but he never left his dream and worked on it continuously. So why are you waiting for you also have potential to rock the world.

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