In contrast to how it is portrayed in movies, the path to success as an entrepreneur is paved with obstacles and hurdles in real life. In a conversation with film producer and co-founder of upGrad Ronnie Screwvala, OYO founder and Group CEO Ritesh Agarwal discussed his early experiences and difficulties encountered while founding the global hospitality network.  

A brief about when his things were dumped outside of his Delhi house, OYO’s Ritesh Agarwal recalls having only Rs 23 in his bank account

Agarwal remembered that the residence he stayed in during his first visit to Delhi was closed and that all of his stuff were put at the stairs. He recalled the guard telling him that the owner of the residence had requested that the guard store his items outside the house since the security had been compromised. Agarwal stated that he had traveled to Delhi for business reasons and had begun to wonder where he would go at night.  

“A few days ago, I traveled to meet other hoteliers and stay there. When I returned, the building was closed, the staff members were all packed up, and the security had been compromised. The manager and owner also noticed these things. The primary is Maine bola raat ko kahaan. The house was closed, and all of my possessions were kept on the staircase. Main Dilli main naya tha, main sirf iss business ko karne ke liye wahaan tha. I questioned the guard, who replied that the owner had instructed him to store all of the possessions outside because the security had become lax. I mentioned my evening destination. I had just arrived in Delhi and had come on business, said Agarwal.

The CEO and founder of OYO further stated that the amount in his Union Bank Account at the time was just Rs 23. He continued by saying that the firm had cut off his phone since he hadn’t paid his payment.  “My Union Bank account had Rs 23 in it, which just made things worse. I didn’t pay my phone bill, therefore the corporation blocked my phone,” he continued.

Agarwal chose to leave college at the tender age of 19. He became qualified for Peter Theil’s prestigious Theil Fellowship as a result of the action. A grant of $100,000 was given to Agarwal, who was the fellowship’s first Asian recipient. With this backing, Agarwal went to India with the intention of starting his own hospitality company, OYO.  

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