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Valuation is temporary, values are constant: Oyo Founder Ritesh Agarwal
Agarwal said there would be not just 100 but 1,000 unicorns coming out of India in the future.

The people who run start-ups all across the world should always keep in mind that valuations go up and down, but the values on which the company is founded is the constant. People should look to do good work, strive to fix the community, help in solving problems in the industry, remain down to earth, said the founder and chief executive officer of Oyo, a travel and hospitality start-up based in India.

Oyo is a start-up in the travel and hospitality industry that leases and rents out homes, hotel rooms and places of stay to their potential clients and customers. The company was founded 9 years ago in 2013, and its head office is situated in Gurugram, Haryana.

A report came out recently that the country was home to 100 new unicorns for 2021 and he took to twitter to comment on the achievement saying that this milestone is a great achievement for these individual companies, but even for the community as they create avenues for the next 1000 to be formed.

India Unicorns by Inc42

 

A unicorn in the world of business refers to firms that have attained a value of at least $ 1 billion USD. This is of course, a great milestone in the company’s journey. India currently has the third most unicorns in the world behind China and the United States of America and the country was even home to the second most new unicorns in 2021.

He even sent a video message to StartupIndia who posted it on their Twitter page which Mr. Agarwal then retweeted on this page. In the video, he said that he has always been confident about the growth of start-ups in the country. Founders and employees of start-ups should keep in mind that valuations are temporary, but values are the constant.

He then said that India used to be in their walking phase by being home to just a single or a maximum of two unicorns every year. He went to say that the country is walking no longer, but we are sprinting. We are sprinting to make the country the start-up hub of the world.

He mentioned the rise of start-ups in lower tier cities and towns, the rapid digitisation that has taken place all over the country and Mr. Modi’s work by harbouring an ecosystem for start-ups is what helped the nation rapidly increase their start-ups. He said that India is only looking up and it will be soon when there are 1000 unicorns in the nation.

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