Father's medical emergency led him to start OLE Rooms - Devendra Sharma

    Devendra Sharma is the Founder and CEO of OLE Rooms. It is a trusted community marketplace for people to list, find and book unique accommodation. He is from Jaipur, India.

OLE ROOMS:- https://www.olerooms.com/

EDUCATION

     Devendra earned his schooling education from Maheshwari Public School. After that, he completed his Bachelor of Technology in Electronics and Communications from the Poornima College of Engineering, Jaipur.

HONORS

• Devendra featured in YourStory, The Voice of Nation, and many more platforms as an entrepreneur

SUCCESS STORY

    An engineering aspirant, Devendra was searching for a room to stay in Kota, Rajasthan, in 2017. Devendra and his father kept looking for rooms all day long. His father, who had blood pressure and diabetes, collapsed, and he had to rush him to a hospital. 

    This incident led him to think about the problems other students might be facing in finding suitable accommodation. He thought, why not make such a platform where people can see the room and book it at ease?  Then, he started working on the idea and chose Sitapura in Jaipur as his first target because it has several engineering colleges and a sizeable student population. To get started, Devendra invested a seed capital of around 1 lakh. 

     Devendra started OLE Roms in 2018, an online marketplace for renting flats, paying guest houses, and hostels without brokerages for as low as Rs.199 per day. 

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     In the two years, he has raised Rs.2 lakh from friends and family to expand the startup's operation. The startup lets people list, discover, and book accommodation for an individual or on a shared basis for the desired period from a day to more than a year.

    Today, The startup claims to have catered to more than 2300 customers and is now at a growth stage. OLE rooms have more than 3600 properties on its platform in cities like Jaipur, Kota, Bikaner, Ajmer, Bharatpur, and Sikar. Recently, the startup has onboarded rooms in Delhi as well. It is now looking for investments to the tune of Rs.1.5 crore to scale to 15,000 properties in the next 18 months. 

    According to Devendra, OLE Rooms registered Rs.50,000 revenue in FY18 and Rs.6 lakh revenue in FY20. He plans to have about 15,000 properties and 10,000 consumers by the end of FY21, along with double-digit revenue growth to reach Rs.50 lakh by FY22.

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