OYO's Ritesh Agarwal shares lessons he learnt from the past year
‘Don’t give up on learning. Keep pace with the times and invest in tech to grow your business,’ Agarwal said
Ritesh Agarwal, the founder of OYO Rooms, took to Twitter to share a few lessons he learnt from the past year. "The past year has left us all with innumerable lessons. Here are some that stayed with me," the OYO CEO wrote.
“Don’t give up on learning. Keep pace with the times and invest in tech to grow your business," Agarwal added.
“It’s not always about finding the right idea as much as it's about identifying the right problems and working towards creating solutions," he wrote.
Most importantly, he said, “live in the ‘now’. "Let go of what is elusive & work for what makes you happy today," he added.
According to reports earlier today, over 500 employees and ex-employees of IPO-bound OYO have exercised their stock options grants to purchase over three crore shares of the company, according to regulatory filings by the hospitality chain.
These shares have been purchased by the employees and alumni by exercising their vested Employees' Stock Option Plan (ESOPs), as per the filings.
OYO had offered deeply discounted ESOPs to both current and former employees when the impact of COVID-19 led to pay cuts and furloughs.
On the basis of the last valuation of OYO of $9.6 billion when the company raised USD 5 million from tech-giant Microsoft in August last year, the total value of the shares purchased by the current and former employees of Oravel Stays Ltd, which runs OYO, would be around ₹330 crore.
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