WATCH: OYO’s Ritesh Agarwal shares advice for aspiring entrepreneurs

In a recent Twitter video, hospitality chain OYO’s founder Ritesh Agarwal shared advice for aspiring entrepreneurs, urging them to remain determined and persistent in their endeavours.

In the video on Twitter, Agarwal acknowledged that many young entrepreneurs tend to give up too early, fearing that established competitors may hinder their progress. However, he believes that new companies have a greater chance of success if they are persistent and resilient. 

He explained in the video, “Most valuable traits for any young entrepreneur. I feel way too many young entrepreneurs give up too early saying that the big incumbent will hurt me. I feel that if you are at it, we overestimate the perseverance of incumbents. The ability for a new company to be able to make a dent is much higher if they are perseverant."

Business Today previously reported that OYO is planning on getting listed on the stock market during the upcoming Diwali season, in either October or November this year. Reports also highlighted that the company has pre-filed its Draft Red Herring Prospectus (DRHP) with market regulator Sebi under the confidential pre-filing route. The company has also reportedly reduced its IPO size by 66 per cent.

Agarwal recently got married to Geetansha Sood in a lavish wedding reception held in New Delhi. The event was attended by several high-profile individuals, including SoftBank Group founder Masayoshi Son and Paytm CEO Vijay Shekhar Sharma. Days later Agarwal's father reportedly fell from the 20th floor of a building and passed away.

Also Read: SoftBank-backed Oyo reportedly pre-files DRHP with Sebi, reduces IPO size to $400 mn-$600 mn - BusinessToday

Also Read: SoftBank-backed OYO to reduce IPO size by up to 66% amid tech headwinds: Report - BusinessToday