At 21 years of age, Ritesh Agarwal is India’s youngest billionaire entrepreneur, having created budget hotel startup OyoRooms. Unluckily, Ritesh was thrown out of rented place in New Delhi when he couldn’t pay the rent. He slept the night in the stairway.
Ritesh had come to Delhi to study in college. But after just three days he realized that formal education is not something he wants to waste his time on and left college. When his parents got to know their son had dropped out, they became angry. “My mother said who will give a daughter to my son for marriage now,” says Ritesh.
Ritesh Agarwal is the man who backs his own decision. He is the true motivation for the young entrepreneurs who are dreaming to be the next big thing. Right Now this man became the role model for the young generation. I am really obliged to share the life story of this young man. I must say this guy proves the old saying that “Hard-work can beat Talent”. He was a college dropout guy who want to sit in the engineering. But now he become the big thing which everyone want to be.Here is the inspiring success story of OYO Rooms Founder.
Inspiring Success Story Of Ritesh Agarwal (Oyo Room Founder)
Dreams and dedication are essential combinations that can lend a hand to take you to the pinnacles of success. The testimony to the above statement is the hard work and dedication of Ritesh Agarwal, the young boy who is the founder and now the CEO of OYO Rooms. He is now an inspiration not only to the young entrepreneurs but also to the youth who wants to do something extraordinary in life.
We all are aware of the very famous OYO Rooms, which is a successful start-up. But do we know actually about the person behind this awesome idea? There is a teenager from Orrisa who thought of this idea and the success of this idea is nothing new.
Facts About The Man Behind The OYO Rooms
Ritesh Agarwal is as interesting as his idea. He was born in a humble family in Cuttack, Orrisa. His journey as an entrepreneur was not a very smooth one; he had to deal with failures and difficulties to be on the top. Below listed are some of the interesting facts that will keep you interested to the edge.
He loves to travel and discover new places so at the age of 17 he left his home and stared exploring different place. While travelling he noticed a problem which every traveler face and that was accommodation problem and very high prices charged by hotels. Ritesh decided to eliminate this problem which face by travelers and that thought which later branched out to become OYO Rooms. Later on, he launched OYO to eliminate the problem of the availability of the budget rooms in Hotels.
Achievements Of Ritesh Agarwal
Ritesh Agarwal has benefited the society in more than one ways. He has also managed to achieve what most of the people only think of. Below listed are some of the accomplishments of this teenager. He has been named among the top 50 entrepreneurs by the TATA first dot awards in 2013. Finalist of the global student Entrepreneurship Awards India. He has been named one of the 8 hottest teenage startup founders in the world by a Business Insider in the year 2013. He is the World’s youngest CEO at 17.
Funding amount: US$150 million
Key Investors: Soft Bank, Light speed, and Sequoia Capital.
Latest funding stage: Series C
Industry: E-commerce, travel