Founder and CEO of Oyo Room Ritesh Agarwal is an example of success that proves that formal education is not the only way to achieve the height. In the hope of only 24 years, Ritesh made a company of 400 crores. Today, one of the biggest investors from the world, Masayoshi Son of Softbank, wants to become its partner in China.
The company launched at the age of 18
At the age of 18, Ritesh started the Oslo State Private Limited Company. The company used to lower hotel rates and bring the room in half price to the people, but Ritesh was not satisfied with it. They said people stop but they do not get the rest of the facilities or the guests can enjoy it. So Ritesh changed the name of the company to Oyo Roams in the year 2013, with the view to do something big.
$ 100 million help from Soft Bank
Riteish's work touched the sky when Soft Bank funded him with $ 100 million in 2015. With this, Riteish's work reached 400 hotels, out of 160 cities. After this Ritesh gets many honors. Today, with just 100,000 rooms in just two years, the country has become the world's largest comfort room at room comfort and cheap rates. This year, the company has started its services in Malaysia and is also making its reach from other countries in the near future. This includes savings from a mother and is the biggest contributor to savings.
It said that the share of domestic savings between the financial years 2012 to 2017 is 60.93% of the total savings of the economy. After this, private sector share was 35 percent and the public sector share was 4.07 percent.
Mr. Gupta said that although the growth in the domestic language was 3.7 per cent during this period. While private sector growth was 17.4 percent and the public sector 12.9 percent. As a result, the domestic savings rate dropped from 23.6 percent to 16.3 percent.
