Ayush Mathur, an early team member of the hotel and travel-tech company OYO, and Mayank Kumar, an education leader and co-founder of upGrad, have joined forces as co-founders to develop BorderPlus, a talent mobility platform that links blue-collar workers to opportunities throughout the world.
After working at the Parthenon Group for almost ten years, the pair is getting back together with the goal of closing the labour gap and emphasising fair access for workers from developing nations like India.
Natural resources are hardly abundant in India. The greatest resource of the nation is its people. India needs to leverage its demographic dividend in order to create something significant and expansive. One of the best examples of how India has created a remarkable service line to meet global demands is in IT services. “I think India is positioned to become the world’s largest supplier of talent to the global economy, given the country’s demographic dynamics,” Kumar said.
With aspirations to grow into other industries like hotel, retail, teaching, construction/logistics, and trucking, in addition to exploring other regions in the future, BorderPlus will initially concentrate on the German healthcare market.
Mathur, who has worked for OYO for more than ten years and was most recently the President of OYO Europe, explains that a large amount of OYO’s European business is in Denmark and Germany, where he has observed a lack of housekeeping workers.
How BorderPlus will work?
With a target of 20–30 applicants every batch, the business intends to deploy many batches each month across different areas. It plans to ramp up to weekly batches after first running batches once a month.
For efficient language learning, the last month or two of the six- to nine-month programs are conducted offline. The remaining months can be completed online, in a hybrid learning environment, or offline. According to Kumar, the first training site is in Pune, followed by Mumbai, and other last-mile training sites will be established around the nation.
For language practice through back-and-forth spoken exchanges, the startup is creating an AI-led conversational bot based on OpenAI architecture. Kumar emphasises that although the programs would cost INR 2 lakh, participants will receive complete reimbursement as a scholarship or relocation aid after they arrive in Germany.
“Once a recruiter recruits them, we might get paid.” It’s a revenue stream that is more driven by enterprises than by consumers,” he continues. The organisation focuses on a finishing school that offers a curriculum that includes 10% skills development, 20% cultural preparation, and 70% language training to prepare students. Kumar notes that India’s educational system already offers robust skill training, particularly in fields like nursing and healthcare, as seen by the BSc Nursing program.
Major Challenges
Teaching 20–23-year-olds a foreign language, especially German, at a time when language acquisition is challenging is one of the biggest obstacles, according to Kumar. Maintaining industry standards is made more difficult by competing with unorganised players who don’t follow the regulations. Building trust for a strong Indian brand abroad is another challenge, especially in the German and European markets where corporates and recruiters might not be familiar with the brand.
Since hospitals are looking for clear and reliable hiring procedures, Mathur thinks that trust is a big issue because of the reputation of unregulated methods. This trust gap can be closed by providing a transparent, technology-driven solution, which is essential for industry growth and cooperation with European and UK organisations.
OYO is a global platform involved in technology for small businesses and entrepreneurs in the hospitality industry to enhance their revenue and operations. It is a means to provide affordable, easy, and trusted accommodations to guests around the world. OYO has more than 40 integrated products and services that comprise more than 157,000 hotels and homes in 35-plus countries, including India, Europe, and Southeast Asia around the globe.
The man behind the business is Ritesh Agarwal, who is also the first Asian resident to take up the Thiel Fellowship. OYO converts the existing and independent hospitality spaces into branded, technology-enabled assets that promise better revenue potential for the owners. These technology tools are offered through Co-OYO and OYO OS and provide features like digital onboarding, revenue management, and business management.
Booking can be done on OYO properties through the OYO app and website, apart from other third-party platforms. The OYO app has over 100 million downloads and provides services such as digital check-in, easy booking, and pre-post-stay services. With a membership base of about 9.2 million, OYO Wizard is the second-largest travel and food brand loyalty program in India.
About OYO
An innovative startup founded in 2013 by Ritesh Agarwal, OYO Rooms has seen an amazing journey through hospitality-treading its meteoric rise and coming across several hurdles on its way. OYO Hotels and Homes was launched as Oravel Stays in 2012, a website that showed budget accommodations and then rebranded as OYO (“On Your Own”) to set up a standard pool of budget hotels across the country, before finally being launched as Oravel Stays. At first, OYO had only five hotels in Gurugram, India, but growth was fabulous online bringing small-budget hotels into the purview.
By 2015, OYO had enlarged to 230 cities and was operating with a consolidated network of over 70,000 rooms. The year 2016 started into a new era for OYO international offerings, starting from Malaysia, and had joined the company in the other package that was to become an international company spreading into China, the United Kingdom, and the USA by 2019, with an estimated presence of around 800 cities in more than 80 countries. However, because of COVID-19, the travel industry went haywire; hotel demand slashed, saw massive layoffs, and many hotel partners closed operations or went out of business. OYO is presently caught up in litigation regarding mismanagement and has seen its valuation dip from $10 billion in 2019 to just $3 billion by 2020. However, OYO is focusing on recovery by integrating initiatives like VaccinAid and OYO Workspaces to keep up with the changing market conditions.
Incorporating a distinctive model that blends between franchising and aggregation, OYO Rooms has established itself. Initially, OYO rented Hotel Rooms which it then standardized under its brand and subsequently ensured that these would be consistently serviced through an agreement with partner hotels. Bookings can be made through the mobile app or website. Over the years, this business model has changed into a purely franchising model where the hotels now use OYO’s brand without having to lease. This has helped partners to create revenues that could even reach a “double bottom line.”
OYO has a range of ancillary services that should be able to address different customer needs. The partner hotels are also influenced by OYO standards in their services, thus, assuring quality and consistency. OYO Flagship thus leases and directly manages hotels to better control them. OYO Townhouse, provides further treatment to young travelers, blessing them with modern rooms, meeting space, kitchens open 24 hours a day, 7 days a week, and digital enhancements like Netflix-enabled TVs. OYO also has a Studio Stay for long-term residents like professionals and students. Event Stay is perhaps their newest segment for weddings or cofunction events. OYO’s clients can also find Commercial Spaces for coworking and office use. Finally, its loyalty programOYO Wizard offers subscribers exclusive discounts and deals.
OYO Rooms has always been a multistream revenue model, which inherently varies with time to ensure constant growth. On the other hand, the company makes revenue from a commission-based model it charges its hotel partner between 20%-30% of the gross booking value (GBV) for each booking made through the platform. The collation varies according to the services offered by hotels and booking frequency.
Today, OYO earns a sizable share of revenue from the franchise model, which now accounts for almost 90 percent of earnings. Under this business model, OYO partners with hotels to run their operations under the OYO brand, thus growing the network without property ownership and having standardized and equable services. Other value-added services provided by OYO, apart from the reservation fees which few add with a markup over the base room rate that they charge and OYO Wizard, are also factors contributing to OYO’s revenue.
Other ways of monetization for the OYO include the revenues from advertising and partnerships, where companies could promote their brands on the OYO platform. A significant number of bookings are not done through third parties, as they have developed direct-to-customer websites and mobile applications, such as OYO, with the resultant loss of dependence and better margins.
OYO Revenue
OYO Financials
FY23
FY24
Operating Revenue
INR 5464 crore
INR 5389 crore
Total Expenses
INR 6800 crore
INR 5726 crore
OYO made a profit of INR 158 crore in the second quarter of FY25, ending in September, as shared by the founder Ritesh Agarwal in a town hall meeting, according to sources. OYO’s parent company, Oravel Stays Ltd, had a loss of INR 50 crore during the same period last year in FY24. In the first quarterof FY25, OYO’s profit after tax was INR 132 crore, bringing its total profit for the first half of FY25 to INR 290 crore ($35 million). This is a big turnaround from the INR 91 crore net loss in the same period last year. OYO’s revenue in Q2 FY25 also grew to INR 1,578 crore, up from INR 1,413 crore in Q1.
OYO has transformed the budget hotel category by providing guests with standardized, high-quality spaces with bathrooms and charges for free wi-fi and breakfast, including other services, without compromising on price. The technology-driven online platform creates unprecedented seamlessness in booking, dynamic pricing, and real-time inventory management. For modern travelers, features like 24-hour check-in and excellent customer support address travel needs.
OYO now operates in over 80 countries and still manages to blend global coverage with localized service and standards for rigorous checks on quality. It provides marketing, technology, and access to large distribution networks to help small hotel partners increase occupancy levels in many locations. It offers a very diverse range of unique accommodation options from vacation homes to more premium Townhouse stays complemented with dynamic pricing and a customer-centric philosophy that engenders monopolistic loyalty.
OYO SWOT Analysis
OYO SWOT Analysis
OYO Strengths
Standardized Quality: OYO sets the provision of all the amenities and services across its locations such that they become unified into one experience in every property for the customers.
Extensive Global Network: Spread wide to include over 85000 hotels worldwide, OYO boasts of diversification, which greatly widens its market penetration.
Asset-Light Model: The company works with existing hotels and does not have any property by it; hence, the company has the possibility of speeding up in most of the cases where flexibility is given to investments made into real estate.
A Range of Accommodation Types: There are many offerings for customers’ different needs of budget hotels, vacation homes, co-living spaces, and even high-end accommodations.
OYO Weaknesses
Heavy Dependence on External Financing: It is becoming very dependent on venture capital for its future growth which brings the proposition about the sustainability of the business model and long-term profits in the shift into a self-sustaining business.
Brand Equity Problems: The speed with which operations grow often leads them to become quite inefficient and mishandle customer experience, which negatively affects the equities of the brand in a few markets and customer faith.
Regulatory Complexity: This diversity within the market operations provides for some further complications in laws and compliance under which these sporadic disputes and operating impediments take place.
OYO Opportunities
Emerging Markets: Emerging markets are cast in spotlight areas on the continents that include Africa and South-East Asia, which presently concern increasing underdevelopment with respect to hospitality.
Technological Integration: Technological arm in creating applications by innovations like artificial intelligence and IoT in which customer services will be improved, operations streamlined, and the experience with these intelligent technologies further focused on the guests.
Green Initiation: Since greener hotels are preferred by travelers, the same is financially beneficial for OYO once it becomes sustainable as a claim within this segment mind of travelers.
Strategic Alliance: This is the development of an engine, joined with a travel agent and a local business network adding plenty more revenues into the company in exclusive packages for the customers.
OYO Threats
Highly Competitive Market: Competition is quite a challenge for OYO as it is a competitor with established hotel chains like Marriott and Hilton, and the likes of Airbnb, all betting for the same space in the market.
Economic Sensitivity: Economic downturns entail cutting back on travel budgets, leading to reduced demand for budget-friendly accommodation and inexpensive lodgings.
Concern for Safety and Innovation: Safety standards are maintained, which sustains consumer trust; keeping up with rapid developments will, however, ensure constant disruptive competition.
Conclusion
OYO is growing steadily in the global hospitality industry. It has grown phenomenally, become dynamic over the years, and continues to develop. Having an entirely different business model, based on the principles of standardization and low-cost budgets, has allowed OYO to occupy a market open for competition in one of the existing highly competitive markets. OYO holds certain advantages that will contribute to success, primarily, an extensive network of properties, brands, and technology.
Among the major challenges facing the company will include an economy of scale, brand reputation issues, complex governmental regulations, and some stiff competition from international and local chains of hospitality and a new generation of platforms. Tackling some of its weaknesses and taking off opportunities from developing markets, emerging technologies, and sustainability would create commercial value in OYO. Above all, the place and customer experience will matter for the gradual growth and sustainability of the business as it will involve an ongoing evolution and change according to the dynamics of the market.
Particularly, adopting these principles will prove critical in business continuity, optimization of performance post-COVID, and ensuring that OYO handles growth and profitability consistently well. Indeed, in the coming years, it will probably be fine to discuss whether this company has a future in hospitality.
FAQs
What is OYO?
OYO is a global hospitality company founded in 2013 by Ritesh Agarwal. It provides affordable and standardized accommodations, including hotels, homes, and vacation rentals, across multiple countries. OYO uses technology to simplify booking and improve guest experiences.
How does OYO make money?
OYO earns money through commissions from hotels, franchise fees, room bookings, leased properties, and extra services like food and event spaces.
What is OYO USP?
OYO’s USP is affordable, standardized, and tech-enabled accommodations with easy booking, consistent quality, and wide availability across locations.
Blinkit, Zomato’s fast commerce subsidiary, has implemented a novel feature that enables users to eliminate order history from their accounts. Albinder Dhindsa, the CEO and originator of Blinkit, disclosed the advancements on LinkedIn, a networking platform. Dhindsa stated in a post that the feature was introduced last week and that over one million orders have been deleted since its implementation. Customers can now delete orders from their Blinkit order history. Since the brand implemented this feature last week, 104,924 orders have been eliminated. Dhindsa highlighted the feature with a tagline, “A new year, a new order history.”
Keep in mind that if an order is deleted, it cannot be restored, and the customer’s account will no longer include the details. At the moment, each order must be deleted separately; there is no way to delete several orders at once. Orders that are more than a year old can also be deleted.
Blinkit Showing its Dominance in Quick Commerce Sector
The most recent offering comes weeks after Blinkit strengthened its top management by appointing Vipin Kapooria, a former executive from Flipkart and OYO, as its new chief financial officer (CFO). This year, the giant of rapid commerce has launched numerous new products. It launched a new app called Bistro earlier this year, marking its entry into the rapid food delivery market. Additionally, it introduced “Blinkit Seller Hub,” which enables vendors to list themselves on the site, and started testing huge order fleets. Additionally, it introduced fast delivery of passport-sized pictures and the return option for items like apparel and shoes.
Expanding its Operations in Jammu
In keeping with Zomato‘s plan to extend its rapid commerce company to Tier II cities, the development coincided with Blinkit‘s expansion to Jammu. Over the past several years, the rapid commerce market has seen a dramatic increase in popularity throughout the nation. In light of this, Blinkit generated INR 1,156 Cr in revenue during the second quarter (Q2) of the fiscal year 2024–25 (FY25), which is more than twice as much as the INR 505 Cr it generated during the same period last year. Additionally, it was able to reduce its adjusted EBITDA loss from INR 125 Cr in Q2 FY24 to INR 8 Cr in the reporting quarter.
A lot of experts are worried about the rapid commerce model since they think the ten-minute delivery won’t be profitable. However, Blinkit’s most recent figures seem to have disproved this theory. Many people have already hurried to predict that Blinkit will soon be the group waggon puller. Zomato’s other diversifications may surprise as well, in addition to the near-duopoly that Swiggy and Zomato have been experiencing in the Indian market lately.
Motel 6, a motel business in the United States, was recently acquired by OYO from Blackstone Real Estate for a price of $525 million. As a consequence of this, the Indian hotel aggregator would acquire almost 1400 properties located around the United States.
It was announced on September 20, 2024, that Oravel Stays Ltd, the parent company of OYO, had acquired G6 Hospitality LLC, the parent company of the Motel 6 and Studio 6 brands. According to Blackstone, the transaction is anticipated to be finalized by the fourth quarter of 2024.
Motel 6’s Business Model
Motel 6 operates motels all throughout the United States and Canada, offering guests hotel rooms that are both tidy and clean at reasonable prices. As a result of the chain’s initial pricing of six dollars per night when it was first established, the name “Motel 6” was given to the establishment.
Both OYO and Motel 6’s business models have been developed on the motto that is compatible with the idea of delivering clean accommodations to travelers on a minimum budget.
The acquisition, on the other hand, takes place at a time when the hotel industry in the United States is experiencing difficulties with decreased occupancy and consistent room rates, as stated in a report published by one of the biggest media houses of the US. The report revealed that customers prefer to stay in a low budget hotel that is priced around $79 per night on an average. This figure is 14% higher compared to five years ago, but it is still lower than the expectations of the US hotel industry.
How This Deal Can Provide a Win-Win Situation for Both?
The combination of OYO’s entrepreneurial drive and the strong brand awareness, financial profile, and network that Motel 6 possesses in the United States will be extremely helpful in determining a path ahead for the firm that is both sustainable and profitable. According to the statement issued by Blackstone, there was a comment made by Gautam Swaroop, CEO of OYO’s international division.
Rob Harper, who is the head of Blackstone Real Estate Asset Management Americas, has stated that this acquisition is an excellent conclusion for investors.
Motel 6 was acquired by Blackstone in 2012 from the French hotel company Accor for a price of $1.9 billion. Following the acquisition, Blackstone committed $900 million to enhance the chain’s offerings. However, it has recently sold it to OYO for a price that is less than half of what it was valued at in 2012.
Challenge organized in partnership with Nas.io and Back To Back SWE
Five startups awarded Rs 10 lakh equity-free grant
Founders get chance to directly interact with Agarwal and seek feedback
16th September 2024, New Delhi: Ritesh Agarwal, founder & group CEO of travel-tech company OYO, recently joined forces with global influencer Nuseir Yassin’s (popularly known as NAS) creator platform NAS.io and online learning portal Back To Back SWE for the 7-Day Startup Challenge, a program designed to guide early-stage startups through the foundational steps of building and refining a business idea, with Agarwal awarding a Rs 10 lakh equity-free grant to five winners.
The challenge attracted nearly 3,000 participants from around the world, including India, the US, Canada, and the UAE. The event, which was hosted on NAS.io, revolved around seven distinct daily themes, each covering a crucial aspect of business development, ranging from goal setting and market research to product roadmap and branding.
The five winners included Bharat Anubhav, an Odisha-based company building a marketplace for certified tourist guides; Ekogalaxy, a climate education platform; Harmony Sourcing, which is helping global buyers connect with factories in India; Farmkrate, an agricultural solutions startup in Andhra Pradesh; and Aura, a mental wellbeing initiative out of Bengaluru.
Over the years, several people have helped me in my entrepreneurial journey. I feel it is only fitting that I return the favour to the next generation of entrepreneurs by sharing my experience. NAS.io, with its large network of aspiring startup founders, and BackToBackSWE, which offers comprehensive mentorship programs, were ideal partners for such an initiative, said Agarwal.
Ritesh Agarwal also shared his thoughts on the challenge on Twitter:
I recently teamed up with @Nascommunities & @backtobackswe to help budding entrepreneurs with the foundational steps of building and refining their business ideas in a 7 day challenge.
From drafting a business plan to creating a financial model to getting product market fit, we…
“This program will hopefully not only equip them with essential business skills but also foster a spirit of innovation and community. India is in the throes of a startup revolution, with young founders solving real-world problems. With the right support, startups can power the next wave of economic growth.”
Roshan Paul, co-founder at Aura, one of the winners, added: “The simple, step-by-step approach made it easy to refine our idea, and the support we received from the community members was invaluable. Competing with so many talented participants made this a rewarding experience.”
Agarwal is also mentoring startups through his stint at the reality TV series Shark Tank India, where he made his debut during the third season earlier this year, becoming the youngest judge on the show. Last year, he announced an equity-free grant of Rs 5 lakh each to four startups from Ladakh in partnership with the Naropa Fellowship.
About OYO
OYO is a global platform that aims to empower entrepreneurs and small businesses with hotels and homes by providing full-stack technology products and services that aim to increase revenue and ease operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate over 175K hotels and home storefronts in more than 35 countries including India, Europe, and Southeast Asia. For more information, visit www.oyorooms.com.
Ritesh Agarwal, the visionary entrepreneur behind OYO, has become a trailblazer in the hospitality industry, changing how people view and experience budget accommodations worldwide. From a small-town dreamer to the head of one of the world’s fastest-growing hospitality chains, his journey speaks to his persistence, strategic thinking, and steadfast belief in his vision. He started with Oravel Stays in 2012, a platform for budget accommodations, and in 2013, he conceptualized OYO Rooms, transforming the hospitality landscape.
OYO, short for ‘On Your Own,’ was founded with a mission to offer standardized and affordable accommodations. Agarwal’s deep understanding of the challenges in budget lodging, combined with his innovative approach, propelled OYO’s rapid growth. The platform provided a range of budget hotels, guesthouses, and homes, each subject to strict quality checks to ensure a consistent and comfortable stay. This commitment to quality, along with Agarwal’s relentless drive, attracted attention and investments.
Under Agarwal’s leadership, OYO expanded not only in India but globally. The company’s aggressive expansion involved strategic partnerships, acquisitions, and a robust technological infrastructure. By using technology to streamline operations, improve customer experiences, and support hotel partners, OYO disrupted traditional hospitality models. Agarwal’s ability to navigate challenges and adapt when necessary played a key role in OYO’s remarkable success.
Beyond business, Agarwal is known for his leadership style marked by innovation, adaptability, and a strong commitment to social impact. His efforts to empower small hotel owners have transformed the hospitality sector and created economic opportunities in various communities.
As a young and dynamic entrepreneur, Ritesh Agarwal continues to inspire aspiring business leaders globally. His story illustrates that with a compelling vision, determination, and readiness to embrace change, one can overcome obstacles and reshape industries.
Ritesh Agarwal – Biography
Name
Ritesh Agarwal
Birthplace
Bissam, Cuttack. Odisha
Born
16 November, 1993
Education
College Dropout, Sacred Heart School, and St. Johns Senior Secondary School
Ritesh Agarwal was born into a Marwari family in Bissam Cuttack, Odisha, and grew up in Titilagarh. His family operated a small shop in Rayagada, Odisha. He completed his education at Sacred Heart School and later at St. Johns Senior Secondary School. In 2011, he relocated to Delhi for college.
On March 7, 2023, Agarwal married Geetansha Sood, a native of Lucknow. Unfortunately, just three days after their wedding, Agarwal’s father passed away, which came as a shock.
Ritesh Agarwal – Early Life
Ritesh Agarwal initiated his entrepreneurial journey at the young age of 13 by selling SIM cards. Despite his father’s aspirations for him to become an engineer, Agarwal had different plans. In pursuit of his dreams, he moved to Delhi during 10th grade to prepare for the IIT-JEE entrance exam. During this period, he began selling SIM cards, not only to develop business skills but also to financially support himself independently. Despite enrolling in an engineering college, he made a daring choice to drop out and venture into entrepreneurship.
In 2013, at the age of 19, he earned a spot in the prestigious Thiel Fellowship initiated by Peter Thiel, receiving a $100,000 grant to materialize his ideas. Utilizing this opportunity, he launched Oravel Stays in September 2012, a budget accommodation portal similar to Airbnb, marking the commencement of his journey in the hospitality industry.
The success of Oravel Stays paved the way for the establishment of OYO Rooms in May 2013. This ground-breaking hotel network rapidly gained popularity, providing affordable and standardized accommodations throughout India. Agarwal’s commitment and innovative approaches attracted substantial funding, with the company securing $1 billion by September 2018. Through the visionary entrepreneur’s leadership, OYO Rooms expanded its reach to 154 cities in India, becoming the largest hotel network in the country.
Ritesh Agarwal – Career
OYO Rooms is identified as a potential future unicorn in a study by CB Insights, as reported in The New York Times. The company has secured a total funding of $125 million through four rounds from seven investors. Ritesh Agarwal, the founder, has received numerous awards, including the Business World Young Entrepreneur Award, acknowledging his notable contributions. He is a frequent speaker at entrepreneurial events globally and holds a fellowship with the Thiel Foundation.
Ritesh Agarwal – OYO Rooms
Ritesh Agarwal, a college dropout, stands as the wealthiest self-made Indian under 40, boasting a net worth of $2 billion. His remarkable journey from a modest background to the forefront of the hospitality industry underscores his resolute determination and entrepreneurial drive.
OYO Rooms’ success transcended national borders. In 2016, Agarwal achieved a significant milestone as the hotel chain surpassed one million check-ins and ventured into Malaysia. The subsequent year they witnessed the launch of OYO Rooms in Nepal, solidifying its footprint in South Asia. Expanding further, the company entered the UK, UAE, Dubai, China, Singapore, and Indonesia in 2018. By 2019, OYO Rooms had acquired over 330,000 rooms in 500 cities globally, showcasing Agarwal’s exceptional leadership and expansion prowess.
Under the leadership of Agarwal, OYO, the hospitality and travel tech startup, reached a noteworthy milestone by achieving positive cash flow in the fourth quarter of the financial year 2023. As per a presentation shared with employees, the company concluded Q4FY23 with a cash flow surplus of Rs 90 crore, signaling a positive financial trajectory. This accomplishment sets OYO on a path to mark its first profitable year since its inception in 2013, with an estimated adjusted EBITDA of about Rs 245 crore for FY23.
In September 2018, the company secured $1 billion in funding. By July 2019, reports indicated that Agarwal had invested $2 billion in shares, tripling his stake in the company. In August 2020, OYO Rooms achieved a valuation of $9.6 billion after raising $5 million from tech giant Microsoft. OYO Rooms initiated the IPO filing process in October 2021.
During challenging times, OYO had to make adjustments, laying off 400 employees in December 2019 and more during the lockdown imposed in India in March 2020. Despite this, OYO remains committed to expansion, with plans in key markets such as India, China, Southeast Asia, the Middle East, and Europe.
OYO Rooms has garnered support from notable investors including SoftBank Group, Didi Chuxing, Greenoaks Capital, Sequoia India, Lightspeed India, Hero Enterprise, Airbnb, and China Lodging Group.
Ritesh Agarwal – Shark Tank India
Agarwal, the self-made billionaire and highly successful entrepreneur behind OYO Rooms, has earned the distinction of being the youngest Shark on the panel for Season 3 of Shark Tank India. He will join other accomplished Sharks such as Aman Gupta (co-founder and CMO of boAt), Amit Jain (CEO and co-founder of CarDekho Group, InsuranceDekho.com), Anupam Mittal (founder and CEO of Shaadi.com – People Group), Namita Thapar (Executive Director of Emcure Pharmaceuticals), Vineeta Singh (Co-Founder and CEO of SUGAR Cosmetics), and Peyush Bansal (founder & CEO of Lenskart.com) in the upcoming season.
Ritesh Agarwal – Shark Tank India 3
Ritesh Agarwal – Investments
Ritesh Agarwal has made 22 investments. Their latest investment was Venture Round – Beyond Odds on Dec 19, 2023, when Beyond Odds raised ₹910M.
During the challenging period of the coronavirus crisis, Agarwal took a proactive stance, announcing his decision to forgo his entire annual salary to support the government. In a show of solidarity, other executive leaders at OYO also voluntarily accepted pay cuts of up to 50%, contributing to building a financial runway for the company. Agarwal expressed his gratitude towards the leadership team for their collective effort during these unprecedented times.
In response to the global business challenges, OYO committed not to reduce the salaries of its employees. The company assured its workforce in India, including over ten thousand OYOpreneurs and numerous OYO-managed assets staff, that their salaries and benefits would remain uninterrupted throughout the nationwide initial 21-day lockdown.
OYO also demonstrated social responsibility by offering its hotels to various groups affected by the lockdown, including frontline medical staff, aircrew, corporates, tourists, paying guests, and stranded foreign nationals. This initiative aligned with government directives and aimed to provide support to those impacted by the pandemic.
Venturing into the healthcare sector, Agarwal has revealed plans to set up five healthcare centers dedicated to the underprivileged in Odisha, his home state. As per an official announcement, the strategic positioning of these centers is intended to address areas with restricted healthcare accessibility, effectively reducing the disparity between healthcare services and marginalized communities.
OYO Founder Ritesh Agarwal’s Speech Leaves Audience Speechless | Youngest BILLIONAIRE from India
Ritesh Agarwal – Controversies
Agarwal faces allegations of deceiving OYO’s co-founder, Manish Sinha, during the company’s early stages. Accusations suggest that Agarwal, through his company OYO, entered into agreements with U.S. hotel owners to rebrand their properties under the OYO name, promising compensation and guaranteed income. However, crucial information was omitted, OYO lacked authorization to operate a franchise business in California. In March 2019, California regulators fined OYO $200,000, and a cease and desist order was issued by Washington after discovering unauthorized offers made to hotel owners and managers.
In September 2020, Agarwal faced a case in Dera Bassi, lodged by a Chandigarh-based businessman, charging him with fraud and conspiracy under IPC 420 (cheating) and 120 B (criminal conspiracy).
An October 2019 report revealed police cases filed against OYO by hotel operators in Bangalore, Mysore, and other Karnataka cities, accusing Agarwal of fraud. Despite this, he successfully secured a stay order on one case in Bangalore.
OYO encountered opposition from 10,000 hotel owners in India who claimed that undisclosed fees, amounting to half or more of their revenues, were charged by OYO when hotels joined the platform.
Ritesh Agarwal – Awards and Recognition
In 2016, Ritesh Agarwal earned a spot in Forbes’ “30 under 30: Consumer Tech” list for his role as the founder and CEO of the innovative hospitality business and app.
Reflecting his remarkable achievements, Agarwal’s net worth in 2020 was estimated at around $1.1 billion (Rs 7253 crore). This positioned him as the youngest self-made billionaire globally, a recognition acknowledged by the Hurun Rich List.
In 2023, Agarwal achieved another milestone by becoming the youngest Shark to be featured in Shark Tank India.
FAQs
Who is Ritesh Agarwal?
Ritesh Agarwal is the founder and CEO of OYO Rooms.
What are OYO Rooms used for?
OYO rooms are popular choices for budget-conscious travelers, tourists, and individuals seeking affordable and convenient accommodations.
The startup industry in India is growing faster than we could have imagined. They are now paving a new way for the future of India. Some popular startups that caught the eyes of everyone in the past few years are Zomato, BYJUs, Nykaa, and more. These are living proof of the evolution of startups in India.
These startups have been able to provide solutions to many of our problems. Along with this, they have been able to make huge progress for themselves as well. The startups in India are now generating a great amount of revenue and an increase in terms of their valuation.
The last two years have been full of ups and downs. The time has been mixed with old and new ideas. Many businesses could not cope well during the pandemic. On the other hand, many were able to reach their prime time. The Indian startup industry has grown in the past two years like never before. Startups like BYJU, Zomato, Nykaa, and more made India proud by entering the unicorn club.
Thanks to technology, continuous innovations, and passion for entrepreneurship, India is now the third-largest home for unicorn startups in the world with almost 100+ unicorn startups already established and many more are on the way to becoming unicorn startups.
Startups in India can secure a strong foot in India now due to new terms and policies installed by the government as well as the development faced by the Indian startup ecosystem. The startups in India have become the most potential eye-catchers for investors. With great funding at proper times, startups have been able to progress at a faster pace.
Here is the list of all Indian Unicorn Startup with their revenue, profit, and valuation:
Nykaa’s CEO and Founder Falguni Sanjay Nayar- StartupTalky
It is an Indian e-commerce platform launched in the year 2012 by Falguni Nayar. The company sells its products through three channels- website, app, and offline stores. It offers a wide variety of beauty, wellness, and fashion products.
Nayar made her company the first Indian unicorn startup led by a woman in 2020. The Firm Nykaa has revenue of INR 2,440 crores, in 2021. It has also announced revenue of INR 3,773 crores FY 2022.
This year in Q2 FY23, Nykaa’s net profit has reached 344% Y-o-Y to Rs. 5.2 crore. The company has also reported a 39% increase in its revenue which is Rs.1230 cr.
2. Swiggy
Revenue: INR 2,547 Crores in FY2021
Swiggy’s CEO Sriharsha Majety- StartupTalky
It is an online food ordering and delivery platform based in India. The Swiggy startup was started in the year 2014. The platform’s services are active in more than five hundred Indian cities like Delhi, Mumbai, Jaipur, etc.
The platform has taken a tech approach to handle logistics and provide solutions to customer demands. Swiggy generated revenue of Rs. 2,547 cr in FY21. This number was a 23% drop from their previous financial year 2020.
3. Zomato
Revenue: INR 4192.4 crore in FY2022
Zomato – A food delivery startup
It is an online food ordering and delivery company founded in the year 2008. From menus to reviews the platform provides you with all the information about its partnered restaurants and gets your delicious food delivered to your doorstep.
It was the first Indian startup to make its debut in the stock market. The Zomato Unicorn is considered one of the most successful startups in India with a revenue of INR 4192.4 crores, in Financial Year 2022. It has also announced its gross order value of INR 5,500 crores in Q3 FY 2022.
The above graph shows India’s Unicorn surge with its aggregate valuation.
4. BYJU’S
Revenue: INR 3,039.45 Crores in FY 2022
BYJU’S – The ed-tech startup
It is a global ed-tech startup founded in India in the year 2011. The platform is known to provide adaptive, engaging, and effective learning solutions to its students around the world. Online coaching has the school’s curriculum as well as training for exams like JEE, IAS, GRE, etc.
This education startup earned the status of the 13th largest unicorn in the world as per CB insights in December 2021. The startup BYJU’s had revenue of INR 3039.4 crores as of FY 2022.
5. Paytm
Revenue: INR 4,846 crores in FY 2022
Paytm – The Financial service providing startup
It is an Indian multinational technology startup that provides a digital ecosystem for consumers and merchants. Paytm was founded in the year 2010. The company offers payment services, commerce and cloud services, and financial services.
It enables users to make quick and safe UPI payments, book movie tickets, EMI payments, and more. This top Indian startup has a revenue of INR 3,187.6 crores for FY21. It has also generated revenue of INR 4846 crores in FY2022.
OYO – A full-stack technology providing a global platform startup
It is an Indian multinational online travel agency for homes and hotels. It was founded in the year 2012. The OYO platform offers hotel rooms at affordable rates all across South Asia. It also offers services like complimentary breakfast services, holiday packages, rewards, etc.
The platform has made travel experiences for people easy and reasonable. It has a revenue of INR 4,157 crores, in 2021.
7. Udaan
Revenue: INR 8450 Crores in FY 2022
Udaan – A trade processing startup
It is a network-centric B2B e-commerce platform founded in the year 2016 in India. The startup helps traders, manufacturers, and wholesalers to connect directly in one place. Udaan startup also facilitates secure payments and smooth logistics.
Udaan has been successful in solving the problems of trade for businesses across India. It has a revenue of INR 5,919 Crores in FY 21. However, in FY22 Udaan has shown Rs.8450 cr in revenue with a loss reaching Rs.3030 cr which is 22.1% more compared to the FY21 loss of Rs. 2482.
8. Digit Insurance
Revenue: INR 5,268 Crores in FY 2022
Digit Insurance – An insurance-providing startup
It is an operator of an insurance brokerage firm founded in the year 2016 in India. The Digit Insurance company offers insurance for commercial and non-commercial vehicles, property, and travel.
Digit Insurance is one of the leading insurance companies in the nation enabling clients to make informed decisions and get themselves insured. It has a revenue of INR 5268 crores in FY22.
9. PharmEasy
Revenue: INR 4363 Crores in FY21
Pharmeasy – The online drug/medicine delivery startup
PharmEasy is an Indian e-pharmacy startup, founded in the year 2015. PharmEasy sells medicine and healthcare products, along with that it also connects local clinics to medical stores for health equipment supply.
In order to expand business PharmEasy has started connecting doctors to patients online and jumped into Lab testing operations now. Though PharmEasy total revenue has increased 48% to Rs 6,461.1 crore in FY22 from Rs 4,363.2 crore in FY21.
But it’s a loss that has been widening. The company has now started to take steps to make it profitable in the coming years despite having fierce challenges from its competitors.
10. Dream11
Revenue: INR 2,554.4 Crores for FY2021
Dream11 – A fantasy sport startup
It is a fantasy sports platform based in India, founded in the year 2008. Dream11 startup enables users to play fantasy sports like cricket, kabaddi, hockey, basketball, and football.
This has been the first Indian gaming company to become a unicorn. The gaming startup has revenue of INR 2554.4 crores for the Financial Year 2021.
Conclusion
The startups in India have seen massive growth in the past decade. Many startups were able to attain the status of unicorn in recent times making India the third-largest hub for unicorn startups in the world.
India has always been famous for its successful talent in technology, medical fields, and more. Now, the nation is shining bright with its batch of growing startup industry.
FAQs
What is a Unicorn company in India?
A unicorn company stands for the term for any privately owned company having a value of more than $1 billion.
Which city has the most startups in India?
At present times, the city of Bengaluru claims the position of the Indian city having the most number of startups in India.
Is BYJUS profitable?
No, the ed-tech platform BYJUS is highly appreciated for the introduction of a new concept in the world of education. It is counted among the most profitable unicorn in India.
Are Indian unicorns profitable?
India contains more than 100 unicorns on its record. However, not every unicorn is counted as a profitable company. It is estimated that out of 100 only 18 unicorns are profitable.
Which is the biggest startup in India?
India is home to many valuable startups. Some of the biggest startups in India are Urban Company, Paytm, Classplus, Razorpay, etc.
Startups based on rental apps (for handheld devices and computers) provide services to people for leasing cars, bikes, rooms, homes, or heavy equipment. Rental startups are there to facilitate a way for people to experience something without owning it. One can think of driving that dream car or bike for a short term without having to purchase it at an exorbitant price.
The forecasted Car Rentals segment revenue for India is at $2.17 billion in 2022. By 2026, a market volume of $2.95 billion is predicted, with revenue forecast to expand 7.92% annually (CAGR 2022-2026). This article discusses the leading rental companies in India that are radically changing this sector.
The Global bike-sharing market is estimated to grow to over 13.7 Billion by 2026
Myles
Founder
Sakshi Vij
Founded in
2013
Operational cities
Delhi, Mumbai, Pune, Noida, Gurgaon, Bangalore, Chennai, Hyderabad, and other 13 cities
Myles Founder | Rental Startups in India
Myles often reviewed as one of the best car rental companies in India, has 38 awesome cars one can choose from according to the need. Myles allows you to rent a car across 21 major cities in India. The cities include Delhi, Mumbai, Chennai, Goa, Jaipur, Pune, and many more.
Zoomcar
Founders
Greg Moran and David Back
Founded in
2013
Operational cities
Bangalore, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai, and other 28 cities
Zoomcar Founders | Greg Moran and David Back
Zoomcar is one of the top rental companies in India, operating in over 34 cities. You can hire a car from a diverse spectrum that starts with a Tata Nano and extends to expensive, high-end models like the Mercedes GLA. You can rent a car anywhere from an hour to a month.
House Rental Startups
According to Knight Frank India, the average home price increased by 3% to 10% in July-September, 2022, while office rent increased up to 13% as a result of increased demand for properties. Here are some of the property rental startups in India:
Housing
Founders
Rahul Yadav and 11 other IIT, Bombay Graduates
Founded in
2012
Operational cities
Chennai, Mumbai, Bengaluru, Kolkata, Delhi, and other 34 cities
Housing ex-Founder and ex-CE0 | Rahul Yadav(on right)
For those looking for a flat on rent, Housing is the answer. This startup is devoted to connecting people with the one of their choice. You can choose from different types of flats: fully furnished, unfurnished, semi-furnished, etc. The extensive network for Housing across India means that finding a place will be as easy as ABC!
Fairpockets
Founders
Ritesh Anand & Rumki Sengupta
Founded in
2017
Operational cities
PAN India
Fairpockets Logo | Rental Startups in India
Fairpockets is a fair-price property portal and a SaaS-based mobile marketplace. It is an online platform that connects the trio of buyers, sellers, and brokers. Fairpockets allows free property posting on its website, and the valuation of the property is done for resale before the advertisement goes live. One can also rent properties through Fairpockets. Its price calculator, inventory management, lead management, and communication system features are highly rated and sought after.
NoBroker
Founders
Amit Kumar Agarwal, Akhil Gupta, and Saurabh Garg
Founded in
2014
Operational cities
Mumbai, Bangalore, Pune, and other cities
NoBroker co-founders | Saurabh Garg, Amit Kumar Agarwal, and Akhil Gupta
NoBroker is another application that assists in putting up homes for rent. As the name suggests, the startup stays clear of brokers and other middlemen to avoid unnecessary problems. The platform has over 30,00,000 monthly users, and its services are available in Mumbai, Bangalore, Pune, Chennai, Hyderabad, Delhi, Faridabad, Noida, Ghaziabad and Gurgaon.
RentRoomi
Founders
Nitin Sharma
Founded in
2016
Operational cities
Hyderabad, Delhi, Bangalore, Jaipur, and other cities
RentRoomi Logo | Rental Startups in India
RentRoomi helps search for accommodations avoiding fake listings and endless site visits. The company is working to solve the problem of Generation Y by letting them find suitable accommodation in cities with the roomies of their choice. RentRoomi currently operates in Hyderabad, Delhi, Bangalore, Jaipur, Pune, Mumbai, Kolkata, and Chennai. Nitin Sharma is the founder and CEO of RentRoomi. An engineer by qualification, Nitin worked in a software development company as a project planning and business developer before starting RentRoomi.
99acres
Founders
Sanjeev Bikhchandani
Founded in
2005
Operational cities
Across India
99acres Logo | Rental Startups in India
99acres is an Indian real estate platform founded in 2005 by Sanjeev Bikhchandani. It allows users to search for properties and land to buy, sell and rent, all through the comfort of their mobile phones. The company caters to almost all Indian cities and is a behemoth in the online real estate market. Over 10,000 properties are listed every day.
Magicbricks
Founders
The Times Group
Founded in
2006
Operational cities
Bangalore , Chandigarh , Chennai, Delhi NCR, and other cities
Magicbricks Logo | Rental Startups in India
Magicbricks is a division of Times Internet Group Limited. The platform allows buyers and sellers to locate properties in India. Magicbricks provides all the information about the property it lists and let people buy or rent the same through its website. It has over 15,00,000 active property listings. Founded in 2006, it has its headquarters in Noida.
NestAway
Founders
Amarendra Sahu, Smruti Parida, Deepak Dhar, and Jitendra Jagadev
NestAway is an online home rental marketplace for individuals and families. It provides fully furnished and well-maintained rooms and flats for rent without brokerage fees. NestAway has headquarters in Bengaluru, and its services are across 13 cities, including Noida, Pune, and Mumbai.
Room rental Startups
Airbnb
Founders
Brian Chesky, Nathan Blecharczyk, and Joe Gebbia
Founded in
2008
Operational cities
220+ countries and regions
Airbnb Logo | Rental Startups in India
Airbnb is a California-based startup for arranging and offering to lodge. Airbnb focuses on temporary homestay and tourism. It provides rooms for the home stay to people, and homeowners can easily list their properties on their platform using the Airbnb app or website. Airbnb acts as a broker, receiving a commission for each booking made from its platform.
OYO rooms
Founders
Ritesh Agarwal
Founded in
2012
Operational areas
Europe, Asia and United States
OYO Logo | Rental Startups in India
OYO, a Gurgaon-based company, is the biggest platform in India and one of the world’s fastest-growing hotel chains for booking hotel rooms at pocket-friendly prices. The parent company of OYO is Oravel Stays Private Limited. Its services are available in 35 countries. Under Ritesh Agarwal, OYO is rapidly building its dominance outside India through an acquisition spree.
TRIVAGO
Founders
Rolf Schrömgens, Stephan Stubner, Peter Vinnemeier, and Malte Siewert
Founded in
2005
Operational areas
190 countries worldwide
trivago Logo | Rental Startups in India
A Germany-based company, trivago specializes in Internet-related services and products in the hotel, lodging, and meta-search fields. trivago, founded in Germany in January 2005, offers research and compares facilities for over 5 million hotels by leveraging information from over 300 hotel booking sites and other types of accommodation in over 190 countries.
Medical Equipment Rental Startups
PrimedeQ
Founders
Shanthi Mathur and Achudhan Mani
Founded in
2016
Operational areas
250 hospitals across 6+ states and 65+ cities
PrimedeQ Logo | Rental Startups in India
PrimedeQ, India’s first comprehensive B2B eMarketplace for Products and Services related to medical equipment & devices, provides access to multiple affordable, good-quality medical equipment for rent. It aims at bringing down selling costs for sellers through its virtual platform. Hospitals can buy, sell or rent equipment, get medical equipment serviced, and purchase spares & accessories–both new and used. Shanthi Mathur and Achudhan Mani are the founders of PrimedeQ. Shanthi Mathur is the CEO of PrimedeQ, whereas Achudhan Mani is the director of PrimedeQ.
Portea
Co-Founder and Chairperson
Meena Ganesh
Founded in
2013
Operational cities
Bangalore, Mumbai, Chennai, Pune, Hyderabad, and other cities
Portea Logo | Rental Startups in India
Portea provides healthcare equipment rental services in over 40 cities in India. In addition to medical equipment, it lists healthcare professionals’ services like attendants, nurses, and doctors. One can place an order for medical equipment(s) on Portea’s website and get the same delivered to their doorstep. Portea also provides a lab test facility at home.
Conclusion
Renting is not only cheaper but also gets rid of the tension that comes bundled with ownership. There has been a seismic shift toward the renting culture, especially among the millennials. The craze for tourism and exploration has only bolstered this shift.
FAQs
Which are the top Rental Startups in India?
Some of the top Rental Startups in India are:
Myles
Zoomcar
99acres
NoBroker
Magicbricks
Housing
Fairpockets
NestAway
OYO
trivago
Airbnb
RentRoomi
PrimedeQ
Portea
Which are the sites for rental homes in India?
99acres, NoBroker, Magicbricks, and NestAway are the best site for rental homes in India.
Is Zoomcar a good option?
With Zoomcar, you can hire a rental or self-drive vehicle of your choice for a reasonable price. The cars have all-India permits, and Zoomcar offers many stations across the nation from where you can pick up your preferred vehicle. So it is a good option.
Which is the site to sell property in India?
99acres, NoBroker, Magicbricks, and NestAway are among the best sites to sell property in India.
Which are the sites for hotel booking in India?
OYO rooms and trivago are the hotel booking sites in India.
Which are Medical Equipment Rental Startups in India?
PrimedeQ and Portea are among the best Medical Equipment Rental Startups in India.
The hospitality sectors without a doubt are a huge industry offering an amazing range of challenges and excellent roles if one is thinking to start a career in this sector. Thanks to the boom in the economy and a sizeable population with standard income, this industry is growing immediately.
Speaking about the sector, OYO, the Indian multinational hospitality chain that has services in hotels, homes, and living spaces is one such example.
Rohit Kapoor was the former CEO of the India & South Asia business across Hotels, LIFE & Workspaces at OYO. He is the man behind the success of OYO in expanding not only in India but also across international markets. He is the reason for driving the new real estate business for OYO by exploring new territories, strategic partnerships, and investment opportunities.
Currently, Rohit Kapoor is serving his notice period at OYO and is soon going to head the food delivery business, Swiggy. Rohit Kapoor worked at OYOfor almost four years. As per sources, he is very likely to join Swiggy if there are no last-minute changes. This decision came into effect after former COO Vivek Sundar left Swiggy.
To learn about his life and bio, read through this article to know how he led OYOinto the global market.
Rohit Kapoor earned a PGD from the Indian School of Business, where he placed among the top five students in his class and won the Young Leader Award for having the greatest overall grade in 2006.
During his graduation time, Rohit has also been engaged in several activities and won achievements like the Torchbearer award for helping brand building for the school and winning the Merit List for core terms.
Before this, he also studied CFA institute (Charter, Investments, and Securities) from 2001 – 2004
The book “ISB Portraits” recently included Rohit Kapoor as one of ISB’s most important graduates.
Besides being an academic scholar, Rohit loves to travel and has a passion for photography.
Rohit Kapoor – Career
Rohit Kapoor is a true leader who has about 20 years of experience in leading many companies. Rohit spent over ten years as a consultant with McKinsey & Company before joining OYO. He experienced a wide range of international marketplaces while working at McKinsey.
Additionally, Max One Distribution, Crossley Remedies, and Antara Senior Living all have Rohit on their boards.
Rohit Kapoor – Journey So Far
Rohit Kapoor is now all set to guide one of the leading food delivery enterprises, Swiggy. After serving the hospitality unicorn for 3.6 years, Kapoor announced his resignation.
He joined the Gurugram-based firm, OYO in December 2018 as the new real estate company’s chief executive officer (CEO), and was promoted to that position a year later to become the Global Chief Marketing Officer of India and South Asia.
Reports suggest Rohit Kapoor will be in charge of expanding Swiggy’s meal delivery services in his new position.
In addition, the startup’s organisational structure has been altered. The reason for the change was that it started they were strong but subsequently lost market share to meal delivery rival, Zomato. Swiggy hasn’t debuted on the stock market yet, but Zomato did so last year.
According to Rohit, the young people of today need more than simply sitting in a room of four walls. They want accommodations with higher levels of comfort and luxuries so they may enjoy life more and pursue their passions without worrying about regular daily-life problems.
This is what led him to create co-living spaces that will suit young people and students in today’s times. These spaces will give them the freedom to do whatever while reducing the headaches associated with brokers, properties with few or no amenities, maintenance fees, housekeeping services, security deposits, and other such issues that cost them extra bucks.
Rohit Kapoor – Investments
Rohit Kapoor is the angel investor at OFB Tech Pvt. Ltd. [Ofbusiness]. It is a technology-driven financing platform for SMEs.
Rohit Kapoor – Awards & Achievements
The following are some of the awards Rohit Kapoor has won:
Merit List for core terms.
Came 4th out of 349 on the Dean’s List.
Featured in the ISB Portraits for being one of the talented graduates.
Rohit Kapoor – Unknown Facts
Few interesting facts about Rohit Kapoor
He cycled from Manali to Leh in 2018.
He loves travelling and photography.
He loves designing.
FAQs
Who is Rohit Kapoor?
Rohit Kapoor is currently CEO of Swiggy for its food delivery business and formerly was the Chief Marketing Officer of OYO.
What was the previous role of Rohit Kapoor?
Rohit Kapoor was the Chief Marketing Officer of OYO.
The mindset of the people has changed from, over the decade, as now people want to be the boss of their own and don’t want to restrict themselves in the walls of 9-to-5 jobs. This decade brought a hit of entrepreneurs and their startups with amazing ideas and execution, that has helped people and has changed the ways, for people living their lives.
15 Best Startups of the Decade (2010-2020)
Here are the 15 best startups in 2010s which have changed the market of the Indian entrepreneurship-
The idea of ordering food online at the start of the decade was an idea that most of the people didn’t think upon but soon the thought changed with the arrival of food-delivering apps like Swiggy.
Launched in 2014, Swiggy is known as the largest and most valuable food ordering and delivering the platform in India, currently operating in more than 100 cities across India. Online food delivery platform, Swiggy, has launched its third series of television commercials and digital campaign, that are reflective of new-age India and its changing culinary culture. Swiggy tagline is “Swiggy karo, phir jo chahe Karo!”
Paytm
Founded: 2019
Paytm Logo | Best Startups of the Decade
Go cashless has been the motto of 2019 and the public is taking it quite effectively. The wave of online transactions hit India in 2010 when Paytm was launched. PAYTM is an e-commerce system, based in Noida, Uttar Pradesh. It is available in 11 Indian languages and offers online use-cases as mobile recharges, utility, bill, payments, travel, movies, and events booking, in-store payments at grocery stores, fruits and vegetable shops, restaurants, parking, tolls, pharmacies, etc.
Oyo Rooms
Founded: 2013
OYO Logo | Best Startups of the Decade
Whenever it comes to book rooms for a vacation, weekend or a party, the one-stop shop is OYO. Founded in 2013, by Ritesh Agarwal, OYO Rooms is an Indian hotel chain and fastest-growing hospitality chain of leased and franchised hotels, homes and living spaces at cheap prices. It is currently UAE, Nepal, China, Brazil, UK, Philippines, Arabia, Sri Lanka, etc.
Finding bus seats can be quite hectic and without a good seat, going to a long ride can be hectic. So, to save the hassle, one can always go for redbus. An online app company, the user can look up to for buses and book tickets accordingly and get confirmed tickets, without struggling for tickets on the way. Redbus was founded by Phanindra Sama, Charan Padmaraju and Sudhakar Pasupunuri in 2006, however, it became famous after 2010 when Indian people were getting introduced to mobile internet.
Ola
Founded: 2010
Ola Logo | Best Startups of the Decade
Traveling was made much easier and better by OLA, which was founded in 2010 by Bhavish Agarwal. Now, it’s one of the largest cab services in India, with over 250,000 cabs and rickshaws in the app running over 85 Indian cities. The company is expanding its reach everyday. As of 2020, it has expanded its services to UK, Australia, and New Zealand.
Zivame
Founded: 2011
Zivame Logo | Best Startups of the Decade
Zivame is an e-retail lingerie brand for women, founded in 2011 by Richa Kar, to empower women to buy lingerie freely without feeling embarrassed as of in normal offline shops, which is generally filled by men. Meaning of Zivame is ‘radiant me’. It has also been known for showing diversity as it has no age -limit. It sells shapewear, sleepwear, and activewear through both online and offline stores.
Who would have thought in 2000s that we would be ordering groceries online? This thought also came into fruition in 2009 by Abhinav Choudhari, Hari Menon and Vipul Parekh. Now, BigBasket is an online food and grocery store that delivers personal and household needs right to customer’s doorstep. As of 2020, BigBasket is available in almost all the cities of India. Shah Rukh Khan is brand ambassador of BigBasket and bigbasket tagline is “I’m bigbasketeer, Are you?”
Byju’s
Founded: 2011
Bigbasket Logo | Best Startups of the Decade
The Bangalore based educational technology platform Byju’s is an online tutoring and coaching firm that was started in the year 2011 and runs on a freemium model. The main aim of Byju’s is to provide coaching through online video lectures for students of class 1 to class 12 and also for people who prepare for competitive exams like IIT – JEE, NEET, CAT, GRE, and GMAT.
Byjus- the Learning app was launched in the year 2015 by Byju Raveendran and since then it has been a huge success. It is used by more than 15 million students all over the world and has 900000 paid subscribers. The app helps the students to learn on their own rather than the traditional culture of spoon-feeding.
Firstcry
Founded: 2010
Firstcry Logo | Best Startups of the Decade
It is an overwhelming feeling for the new parents to buy all the goods for the baby or the newborn. Firstcry was started to fulfill that demand in 2010, by Supam Maheswari, when he couldn’t find quality toys for his new-born daughter. Now, firstcry sells baby products like diapers, cribs, clothes, nursery items, etc. It has become a popular website for buying baby products from online and offline stores.
Freshdesk
Founded: 2010
Freshdesk Logo | Best Startups of the Decade
Cloud-based software is the need of every brand to store all the data of the consumer. But back in the starting days of the decade, there were very few companies dealing with cloud-based software.
One of the most popular company was Freshdesk ( now known as Freshworks), which was launched in 2010. It was started by former ZOHO employees Girish Mathrubootham and Shanmugam Krishnasamy, who teamed up to create better software to help enterprises do after-sales support more effectively. The founder Girish Mathrubootham, is also a mentor and a key figure in the Chennai startup ecosystem.
Freshdesk’s customers in India include Saavn, Decathlon, Grofers, Lenskart, Oyo Rooms, Byju’s, and Goibibo.
Limeroad
Founded: 2012
Limeroad Logo | Best Startups of the Decade
Fashion has always found its way in women’s shelf, one of India’s most popular online boutique is Limeroad. It was founded in 2012 by Suchi Mukherjee and Ankush Mehra. It is known for being specialized in clothing and accessories for men, women or kids. The online store also allows the users to create their look on a virtual scrapbook by using the brand’s products and also allows users to earn from the scrapbook they create and then, they can use the points on the purchase, at the time of checkout.
Shopclues
Founded: 2011
Shopclues Logo | Best Startups of the Decade
Another big brand which started in 2011, was Shopclues. It was founded Sanjay Sethi, along with former wall street analyst Sandeep Agarwal. Both the founders returned from California, decided to go into a new venture. The company has over 6 lakh merchants and 2.8 crore products on its platform serving over 32,000 pin codes across the country. Although, the company didn’t do well in the market, Sandeep Agarwal did inspire many youngsters to get into entrepreneurship through his journey.
Buying furniture online? That was a dream of people in 2000s! But that dream was completed by Ambareesh Murty in 2012. He teamed up with Ashish Shah, one of the former head of eBay Motors in India and the Philippines and launched Pepperfry. It is a dealer of the best quality furniture and delivers it at the doorstep of the buyer. It has soon gained immense popularity in the country.
Snapdeal
Founded: 2010
Snapdeal Logo | Best Startups of the Decade
With the tagline of “unbox Zindagi’, Snapdeal managed to be a home favorite for varieties of goods ranging from home, fashion, electricals, sports, etc. It sells over 3 crores (30 million) products across 800+ diverse categories from over 1,25,000 regional, national and international brands and retailers and a reach of 6,000 towns and cities across the country. Although this ecommerce venture didn’t do as good as others like Flipkart or Amazon, it was still a big success in the early years of this decade.
Hike
Founded: 2012
Hike Logo | Best Startups of the Decade
Once a very popular youth app for messaging, Hike messenger has left an interesting mark on the market. It was founded by Kavin Bharti Mittal. The hike is a cross-platform instant messaging, voice over IP, social media and peer to peer file sharing app, launched on 12 December 2012.
Conclusion
These startups are known to be change force in the world of startups in the decade and are known to inspire many other startups. 2010s is probably the most revolutionary decade in the entrepreneurship world. However, we hope this decade brings more innovation to lives.
Nitin Konde
