Ritesh agarwal was the founder and ceo oyo rooms. And he is from odisha. He got the idea when he was 17 yrs old. He is dropout from college. And started business. At first he was hesitant and later he took tough choices and implemented. And it is started on May in year 2013.now it is leading chains of hotels, homes and spaces

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Ritesh Agarwal has been travelled across the country before launching OYO and during such travels he discovered the problem with budget hotels. Thus at the mere age of 17, he first launched it as oravle travels in 2011, which he modelled after Airbnb. However, it later branched out to become OYO rooms in 2013. He had discovered that the problem with budget hotels was bigger than just availability, so, to counter other issues, he launched OYO.

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Oyo means on your own

In 2014; the company raised Rs. 4 Cr from Lightspeed Venture Partners (LSVP) and DSG Consumer Partners, at a pre-money valuation (valuation of a company prior to investment or financing) of Rs 14 Cr.

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What motivated Ritesh even more was that, by now the company was clocking gross bookings of more than Rs.1 Cr. per month.

The awards he got received are ,

• Awarded the TiE-Lumis Entrepreneurial Excellence Award (2014)
• The first resident Asian to win ’20 Under 20’ Thiel Fellowship (2013)
• Named one of the Top 50 Entrepreneurs by TATA First Dot Awards (2013)
• Finalist of Global Student Entrepreneurship Awards-India
• Named one of the ‘8 Hottest Teenage Start Up Founders in the World’ by Business Insider (2013)
• World’s Youngest CEO at 17(recognized at 16)