Oyo Rooms founder Ritesh Agarwal has shared some key learnings from the past year. Wishing his followers on the new year, the young entrepreneur listed some of the “innumerable lessons” that he learned in 2021. Agarwal highlighted that people were key to success and suggested that we should never shy away from trusting and investing in individuals who challenge us to push boundaries.
Next, the Oyo boss added that innovation was the only way forward and said that we should never be afraid of failures.
Agarwal pointed out that keeping up with the times and investing in technology was key to business growth. He said the past year also taught him the fact that it is not about finding the right idea as much as it’s about identifying the right problems and working towards creating solutions.
The biggest lesson for him in 2021, however, was the importance of living in the present and doing things that brought happiness to the moment.
https://twitter.com/riteshagar/status/1478007473176940545?s=20
Oyo is likely to go for an Initial Public Offering (IPO) this year. The company has already submitted its application for IPO with market regulator SEBI. The hospitality brand will go for listing with the company name Oravel Stays. Oyo plans to raise Rs 8,430 crore through the listing and will be joining startups like Nykaa, Policybazaar and Paytm that launched IPOs last year. Oyo is reportedly being advised by Kotak Mahindra Capital, Citi Bank and JP Morgan on the IPO
In August last year, Oyo raised $ 5 million funding from tech giant Microsoft at a valuation of $ 9.6 billion
In some other news from the company, according to the regulatory filings, more than 500 employees and ex-employees of Oyo have exercised their stock options grants to purchase over three crore shares of the company. The shares were purchased by the current and ex-employees using their vested Employees’ Stock Option Plan (ESOPs).
Oyo had offered ESOPs to both its current and former employees after it had to do pay cuts and furloughs during the peak of the COVID-19 pandemic.
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