There are always some of the inspirational factors in each and every idol of ours since they are the ones who give us an introduction to the path of success.
Similarly, I have always been a keen learner and the story of Ritesh Agarwal has always inspired me to pursue my dream of being a successful entrepreneur.
The following are the points that I have been able to gather from the XPERT App through the questions that have been answered by him all along.
1 At a very tender age of 13, Agarwal started selling SIM cards.
Ritesh Agarwal, at the age of 13 started selling SIM cards. Although, he belonged to a very reputed family from Orissa and was very much aware of the fact that if his family get to to know about all this, he would be putting his dream of becoming an entrepreneur on stake forever.
But He continued to strive hard each day and it teaches us that age is no bar if you are keen and determined towards following your dreams and unraveling your passion.
2 He grabbed the winners position of the Thiel Fellowship Program 2013!
Ritesh Agarwal was a rank holder and was able to procure the winners position of the Thiel Fellowship Program 2013, a 2-year program initiated by Peter Theil, PayPal Founder, and an early investor in Facebook. Soon after which he was awarded a grant of $100,000.He was the first Asian to have obtained Thiel Fellowship.
His determination and willpower to continue working hard each passing day is a pinnacle of inspiration to all the young minds. He was and has always been dedicated to his work.
3 Soon after his zeal to kickstart his career in the chosen field, he managed to step out on his first venture in 2012 – Oravel Stays!
At a mere age of 19, he stepped out and started his very first venture of Oravel Stays. It was a conglomeration of bed and breakfast stays across India. He was given an opportunity to secure funding of Rs 30 lakhs from VentureNursery, an accelerator firm that brought together a bunch of storied investors to bring up start-ups
Receiving such a huge fund also suggests that Ritesh had a strong PR and goodwill. Although, there were days when the things did not fall into place and it was referred to be the hard-luck but still, Ritesh continued to build up his courage and confidence to move forward with his interests. He even tried to build up a company duplicate to that of the Airbnb but failed miserably. The only thing that kept him striving more each day was his determination to stand on his own feet and be his OWN BOSS.
4 Even after facing failures, he did not give up and made a transition to OYO Rooms.
He was clicked with an idea of Transition to the OYO Rooms when he soon realized the fact that the unraveling pain is that we all travel but never find a suitable, affordable, and majorly available place to stay and enjoy our trips, ending up staying in hotels which don't even provide basic facilities which every average hotel must provide to its customers. He was motivated and planned to build such a platform that provides all the good places under one roof. And thus he renamed Oravel Stays to Oyo Rooms.
5 Oyo Rooms - happened to be a network of 2,200 hotels operating in 154 cities across India - with monthly revenues of $3.5m and 1,500 employees.
Soon after starting the OYO Rooms foundation, Ritesh was able to bring it to greater heights. It also attributes among the companies which are expected to become the next start-up unicorns according to CB Insights research findings, published in The New York Times. It has raised a total of $125million of funding in 4 rounds from 7 investors. Riteshwon many awards and honors for his work.
Thus his hard work and passion brought him net worth to that of the youngest billionaire entrepreneur. His story has always been an inspiration to the young aspirants who look up to him. I have personally experienced a change in myself after going through his journey to becoming what he is today. Inspiration, motivation, and dedication are the spheres where success lies.
6 Today at the age of 24 Ritesh Agarwal is one the biggest businessman in India.
He has won many national and international awards for its company Oyo Rooms.
Below are the few awards that he won for the Oyo:
- Forbes “30 under 30” in the consumer tech sector
- 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
7 OYO, which is an acronym for ‘On your Own’, started with one hotel in Gurgaon in 2013.
Founder & CEO of OYO Rooms, the largest hotel network with over 100000 rooms in over 300 cities across India. Having taken the entrepreneurial plunge when he was still in his teens, Ritesh Agarwal is one of the youngest millionaires in India.