Ritesh Aggarwal is the young founder and the CEO of the budding and growing start-up named Oyo Rooms, in India. It is the fastest-growing hotel networking as of the present times and is currently valued at more than 400 million dollars. Oyo rooms do nothing extraordinary except providing the travelers with a cheap, clean, good, and standardized staycations in the places they are visiting without any other added benefits to the same.
Let us talk about this mastermind teen behind the Oyo Rooms, who always had an urge to do big, and here, he is setting examples for each one of us in the crowd.
Ritesh was born in a business family from Orissa, he is one of those special children who had amenities yet he was eager to do something of his own. By god’s grace, he was a genius of computer software and if sources are to be believed, Riteish’s 8 – year self was a coder, which he learned through the internet and his elder brother’s books.
Aggarwal always felt that India is not fulfilling the basic need of a budget hotel and planned to do something in this field. He started his first venture in the year 2012 capitalizing this very idea and called it Oravel stays. He presented his idea at a Fellowship a global contest that was held for students who were under the age of 22. Reaching the top of the list, he received a sum of 100,000 dollars from Peter Thiel, who was the co-founder of PayPal and early investor at Facebook.
He then came up with better ideas of providing better-looking hotels with greater facilities and create a portal of the same in India. He created an online social community to get information about all good places on one platform. He ticked his present business model and launched it as Oyo Rooms in the year 2013. Later, in the year 2014, the company raised 4 crore rupees from Light speed Venture Partners.