In an insightful session hosted by the Business School Masters Union, Abhishekh Gupta, the Chief Financial Officer (CFO) of Oyo, candidly shared a remarkable episode from his early days with the company. Gupta revealed that back in 2015, he had to take the unconventional step of printing his own offer letter upon joining Oyo, reflecting the startup spirit and resourcefulness that defined the company at the time.
Gupta’s connection with Oyo began when he was introduced to the founder, Ritesh Agarwal, by a classmate at the Indian School of Business (ISB). At that point, Gupta was employed at Philips. Despite being initially unsure about the venture, Gupta met with Ritesh, the board, and investors multiple times and realized they were building something extraordinary. He commenced his journey with Oyo even before formally joining, during the company’s series B phase.
Recalling the pivotal moment when he officially became part of Oyo, Gupta shared, “The moment we shook hands, Ritesh said, ‘Aapka time shuru ho gaya hai, mujhe nahi pata aapka notice period hai, kya hai’ (Your job has started, I don’t care if you have a notice period). As far as I’m concerned, you are the CFO; you go and figure out what needs to be done.”
To facilitate his resignation from Philips, Gupta needed an offer letter, and with no formal HR in place at Oyo during those early days, he took matters into his own hands. He approached the Junior HR, obtained the necessary details, and personally printed his offer letter. It was a testament to the startup ethos where agility and resourcefulness were key.
During the session, Gupta also shed light on Oyo’s business model of collaborating with unbranded hotels. He explained that Oyo assured these hotels of exclusive revenue management, co-branding as Oyo Residency, implementing its operating system, and driving revenue while managing pricing for the hotels.
As Oyo has evolved into a global hospitality brand, Gupta’s journey from self-printed offer letters to steering the financial aspects of a major company exemplifies the dynamic and entrepreneurial spirit embedded in its foundation.
