STARTUP STORY OF OYO HOTELS & ROOMS

OYO(on your own) was founded by young ceo and founder RITESH AGGARWAL in 2013.OYO is the fastest growing network of online hotel chain.OYO headquartered in gurgaon, haryana.OYO is the fastest growing hostpitality chain of franchised and leased hotels, rooms and living space.The story behind starting OYO is very interesting.RITESH AGGARWAL comes from cuttack odisha.At the age of 13 started selling sim cards.RITESH passed 12th from st.john senior secondary school and moved to delhi in 2011 for college.But no one knows ritesh started working on to start a startup, even his mom and dad. Ritesh all did this by bunking college.He dropped out of college and was selected for the Peter thiel fellowship in 2013.

OYO SITE :oyo.com

In 2012 AGGARWAL launched ORAVEL STAYS to start listing and accomodations.After undertaking months of research ritesh changed his startup name ORAVEL STAYS to OYO for booking budget hotels in 2013.Now OYO has a multi-brands approach it includes OYO townhouse, vacation home, oyo home , silverkey, capital o, palette, oyo life, collection o.In recent time OYO expanded globally with thousands of hotels, homes, vacation homes and living spaces in asia and europe - INDIA, UAE, NEPAL, MALAYSIA, U.S, SRI LANKA ,INDONESIA and various other countries.

OYO gets funding from various investors recent fundings in 2018 $1billion from star virtue investments. in 2019 $1.5 billion from softbank, lightspeed and sequotia capitals.In 2019 OYO registered a revenue of $951 billion.

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Today, OYO is the world's largest hospitality chain. In recent times OYO acquires various startups such as in 2018 chennai based NOVASCOTIA BOUTIQUE HOMES, mumbai based WEDDINGZ in 2019 amsterdam based LEISURE GROUP, and INNOV8.as of 2019 OYO has valued $10 billion.'

OYO also provide co-working space.In recent time ritesh purchased $2 billions in shares.Growth of oyo is very fast in recent time when jio was launced in india due to easy net connectivity anyone can easily access internet connected apps.

After AGARWAL purchased $2billion in shares his net worth in 2020 was estimated to be approx (7253 crore INR) according to HURUN rich list.RITESH AGGARWAL is the youngest self made billionaire after KYLIE JENNER in the world.