Yes, Oyo is an Indian company that isn’t very old actually but one of the first of its kind in the country. That’s for sure. And the founder of Oyo is none other than Ritesh Agarwal, some of you may know him as one of the youngest self-made billionaires in the country. Yeah, that’s him. If you are someone who’s interested in knowing how it all began for Oyo, then keep on reading because it is a quick lowdown on just that. Here we go.
Highlights Of Oyo Company Details:
| Oyo Company Is From Which Country | India |
| Established Year | 2012 |
| Oyo Company Owner | Ritesh Agarwal |
| Oyo Company Headquarters | Gurugram, Haryana, India |
| Products Of Oyo | Leased and franchised hotels, homes, living spaces |
| Oyo Company Founders | Ritesh Agarwal |
| Parent Company Of Oyo | N/A |
The Oyo Story
Oyo, also known by its full name OYO Hotels & Homes, started out as a spark of an idea in 2013. A young guy named Ritesh Agarwal, only 19 years old, decided to shake up the whole hotel scene in India. His goal was to simply make sure that when you pay for a room, you get your money’s worth, every single time, with no surprises. By the time Ritesh was a teenager, he was already out and about, getting to know the ins and outs of hotels all over India. He had that spark, that special something that makes an entrepreneur. School was too slow for him, so he took a leap and left college to chase his big idea. It all started with a little project called Oravel Stays in 2012. Think of it as a collection of comfy, friendly bed and breakfasts. But that was just the warm-up. With a nifty grant from the Thiel Fellowship in his pocket, he gave Oravel a fresh coat of paint and turned it into Oyo. Now, Oyo isn’t just any hotel chain. It’s about making sure you get a great sleep, a warm shower, and a price that keeps your wallet happy, in over 800 cities across 80 countries.
More About Oyo
You see, instead of owning hotels, Oyo teams up with ones already out there, giving them cool tech and know-how to get better at what they do. This smart move has made Oyo really take off, reaching a whopping $10 billion worth by October 2019. Sure, the big virus crisis shook things up, slicing into their earnings and forcing them to tighten their belt, including saying goodbye to some of their team. But don’t count them out yet. Oyo’s toughing it out, bouncing back with some help from friends like Microsoft who’ve pitched in with cash and support.
Anantha Nageswaran is the chief editor and writer at TheBusinessBlaze.com. He specialises in business, finance, insurance, loan investment topics. With a strong background in business-finance and a passion for demystifying complex concepts, Anantha brings a unique perspective to his writing.
