OYO Founder Ritesh Agarwal Announces ₹3 Lakh Contest to Rename Parent Company
In a bold rebranding move, OYO’s founder Ritesh Agarwal has invited the public to help rename OYO’s parent company, Oravel Stays Pvt Ltd, and announced a prize of ₹3 lakh for the winner whose suggestion is selected.
The initiative aims to reflect OYO’s evolving global ambitions, especially as the company plans for its upcoming IPO in FY 2025 and expands into premium hospitality and tech-driven platforms.
What’s the Objective?
Ritesh Agarwal posted on X (formerly Twitter) seeking a name that:
- Is short, one-word, and bold
- Feels global, tech-oriented, and human
- Is not language- or geography-specific
- Can reflect a larger business vision beyond hospitality
- Ideally has a .com domain name available
“The name should be powerful enough to stand on its own, even if OYO wasn’t in the picture,” said Agarwal.
How to Participate in the Naming Contest
Steps to Submit Your Idea:
- Visit Ritesh Agarwal’s tweet here: Ritesh Agarwal on X
- Reply to his post with your name suggestion and explanation (optional).
- Include hashtag #NameTheNextBigThing for visibility.
Deadline: Submissions are open until early next week (exact date not mentioned, but advisable to submit ASAP).
Prize: ₹3,00,000 for the winning entry.
Note: Ensure the name is original, has available domain rights, and matches the criteria.
Why This Matters
This renaming comes at a time when OYO is gearing up for its IPO and expanding services with new premium offerings. Agarwal also revealed the new name might power a new app for premium hotels, suggesting a larger tech ecosystem beyond budget stays.
OYO reported strong financials with:
- Profit After Tax (PAT): ₹623 crore
- 10 consecutive quarters of EBITDA profitability
This fresh branding push signals a new phase for the startup unicorn that began in 2012 with budget accommodations and has since grown into a global hospitality player.
👉 Apply Now: Post your name idea at @riteshagar on X