Valuations are temporary, values are forever: OYO CEO Ritesh Agarwal

Startup founders should remember that valuations are temporary and values are forever, and they must focus on doing good and stay grounded, OYO's Founder and Group CEO Ritesh Agarwal said on Monday

Startup founders should remember that valuations are temporary and values are forever, and they must focus on doing good and stay grounded, travel and hospitality technology platform OYO's Founder and Group CEO Ritesh Agarwal said on Monday.

Commenting on India crossing the 100 unicorns mark, in a post on Twitter, he said it is "not just a milestone but a stepping stone that lays the path for the next 1,000 unicorns."

Retweeting his video message posted by Startup India, Agarwal said, "I am bullish on Indian entrepreneurs taking the world by storm. Founders should remember that valuations are temporary, values are forever. Focus on doing good & stay grounded."

In the video message, he said it seems like India is not walking anymore when only one or two unicorns were added a year.

"We are now sprinting towards glory to make India the largest entrepreneurial ecosystem in the world," he said.

He listed out the presence of entrepreneurs and markets in Tier II, III and IV towns in India; digitisation of small and medium enterprises, and the support of the government led by Prime Minister Narendra Modi by creating the right ecosystem as key factors for the growth of startups in the country.

Agarwal said there would be not just 100 but 1,000 unicorns coming out of India in the future.