OYO Rooms founder Ritesh Agarwal shares some important lessons from the past one year. Congratulating his followers on the new year, the young entrepreneur listed some of the “myriad lessons” he learned in 2021. Agarwal highlighted that people are the key to success and suggested that we should never shy away from trusting and investing in individuals who challenge us. pushing the limits.
Subsequently, the OYO boss said that innovation is the only way forward and added that we should never be afraid of failures.
Aggarwal said that keeping up with the times and investing in technology is the key to the growth of the business. He said that the last year also taught him the fact that it is not about finding the right idea, but it is about identifying the right problems and working towards creating solutions.
However, the biggest lesson for him in 2021 was the importance of living in the present and doing things that bring happiness in the moment.
The past year has left us all with countless lessons. Here are some that stayed with me. Wishing you all a very Happy and Prosperous New Year.- Ritesh Agarwal (@riteshagar) 3 January 2022
OYO is likely to go for an initial public offering (IPO) this year. The company has already submitted its application for the IPO with the market regulator SEBI. The hospitality brand will be listed under the company name Oravel Stage. Oyo plans to raise Rs 8,430 crore through listing and will join startups like Nykaa, PolicyBazaar and Paytm which launched IPOs last year. OYO is reportedly being mentored by Kotak Mahindra Capital, Citibank and JP Morgan on IPO
Oyo had raised $5 million in funding from tech giant Microsoft in August last year at a valuation of $9.6 billion.
In some other news from the company, according to regulatory filings, over 500 employees and former employees of OYO have exercised their stock option grants to buy more than three crore shares of the company. Shares were purchased by current and former employees using their vested employee stock option plans (ESOPs).
Oyo had offered ESOPs to both its current and former employees after it had to take pay cuts and furloughs during the peak of the COVID-19 pandemic.
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