Sunday, 10 September 2017

Founder of OYO rooms - Successful Story of Ritesh Agarwal, His Journey from a sim card seller to a multi millionaire.

OYO ROOMS


It was a dream and the hard work of a 17-year-old boy, whose value has reached almost 6000 million today, as well as its booking is increasing by 30 percent in every 3 months. This company is available in the big cities of the country as well as with the best facilities at Traveler's bargains and the company we are talking about is OYO.


OYO is founded by Riteish Agarwal. Who left engineering at the age of 17 and started his company. This company started without helping anyone and reached 6,000 crores in just 6 years. In the interview he had told that he had no money in the early days to pay rent and spent many nights on the stairs. 



According to media reports they used to sell SIM cards also. Riteish had created a website where he updated information about cheap and affordable hotels which named 'Oraval'. According to the information, Ritesh, after running the website, felt that due to the name people are unable to understand the website, so they changed their name to OYO Rooms in 2013.



In 2009, Ritesh went to visit Dehradun and Mussoorie. From where he got inspired and the idea of OYO rooms came out. He thought became reality after he created a online social community, where with the help of property owners and service providers on the same platform, the tourists can make room and food available. Then in 2011, Ritesh started Oracle. 



After this a businessman from Gurgaon , Manish Sinha invested in Oracle and became a co-founder. After this, Oracle got economic strength in 2012, when the country's first Angel based Start-Up Accelerator Venture Nursery Angel helped him. Today, there are more than 70,000 rooms in its 8,500 hotels across India. Recently, Softbank of Japan invested $ 250 million in the OYO Room. Softbank is the second largest investment in India after Flipkart.

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Founder of OYO rooms - Successful Story of Ritesh Agarwal, His Journey from a sim card seller to a multi millionaire.
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