OYO Rooms, to be valued at $2 Billion, could be the next entry in the Unicorn Club. Started in 2012 the success story of Gurugram based OYO rooms almost seems like a fairy tale. Founded by Ritesh Agarwal,24, a tall, thin, scruffy looking guy who would be lost in crowd is an inspiration to every budding entrepreneur. Earlier this June the online hotel aggregator, which reportedly has a network of over 1,00,000 rooms in India, has already started establishing its presence in London & China. Let’s unwind the story of OYO Rooms! Your budget-friendly holiday home.
The Maestro and the Orchestra
Ritesh Agarwal hails from a well-off business family from Bissam, Cuttack. At the age of 8, he started coding and thus began his love for software programming. At the age of 16, when he was in Kota to join IIT, Ritesh travelled extensively and stayed in odd Bread & Breakfast (B&B) places and by the time he was 18, he dropped out of college to kick-start his entrepreneurial dream. It’s been an exceptional journey for Ritesh, from being a college drop out at 18 to a Millionaire at 24.
In 2012, Ritesh Agarwal started with Oravel Stays! replicating the model of Airbnb i.e. providing short and midterm rental B&B joints, serviced apartments and private rooms. But the Company failed to pick up and garner any movement; so ultimately in 2013 the existing business model was tweaked to make way for “OYO Rooms”.
Continue reading “Startup Sunday Season 3 Episode 8 (OYO Rooms)”
The first wave of unicorns (a privately held startup company valued at over $1 billion) was created across e-commerce (Flipkart, Shopclues, Snapdeal) and ride hailing (Ola). With the recent funding round, the tide has turned towards food-tech with Swiggy joining the coveted club along with its closest competitor – Zomato. Let’s unwind the journey of this Bangalore based startup that brings restaurants into your pockets!
Founded in 2014, Swiggy is a food ordering and delivery company. Inspired by the thought of providing a complete food ordering and delivery solution, Swiggy brings the best neighborhood restaurants to the urban foodies. With the expanded reach in 15 cities, Swiggy has over 35,000 restaurant partners and a diligent delivery fleet of over 40,000. Continue reading “Startup Sunday Season 3 Episode 3 (Swiggy)”
“We travel not to escape life, but for life not to escape us.”
A Sneak Peak into the Journey
“INCREDIBLE INDIA”- its not a phrase; its an emotion, an unparallel experience to be explored. India offers a different aspect of her personality- exotic, extravagant, elegant, eclectic- to each traveler to the country. At Wandertrails, they help you choose that particular experience which will shape your vision of the country.
Bangalore based tech travel startup, started in July 2016, is the brain child of Vishnu Menon, Sruti Ramesh Chander and Pranav Kumar (graduates from IIM-Calcutta), Narayan Menon and Hari Gangadharan (industry veterans).
Continue reading “Startup Sunday Season 2 Episode 10 (Wandertrails)”
Online Hotel Booking Industry in India had already become a red ocean when Mr. Inder Sharma thought about entering the industry. Two models were dominating the Online Hotel Booking sectors. Online Travel Agents (OTAs) such as MakeMyTrip.com, Cleartrip.com, Goibibo.com, Yatra.com etc. and the Accommodation start-ups such as Oyo Rooms, Treebo, FabHotels etc. had already captured almost 19% of the total hotel booking industry (which stood at $7.2 Bn at that time). Before going further on how Mr. Sharma went ahead, let me explain how OTAs were different from Accommodation Start-ups. Continue reading “Startup Sunday Season 2 Episode 1 (HotelBids.com)”