Indian businessman Ritesh Agarwal was born on November 16, 1993, and is well-known for starting the hospitality and hotel chain platform OYO Rooms. Agarwal, who was born in Bishama Katek, Odisha, showed early signs of entrepreneurial spirit when he founded his first company at the age of 17.
In 2013, he launched OYO, which soon grew to become one of the biggest hotel chains in the world. As a result of his accomplishments, Agarwal has been honored with honors like the Thiel Fellowship. As a trailblazing leader, he keeps reshaping the hospitality sector, growing OYO’s global footprint, and bolstering India’s startup scene.
Ritesh Agarwal’s net worth is approx 3 billion dollars in 2024.
Ritesh Agarwal Wiki
|Date of birth
|November 16, 1993
|5 feet 9 inch
|Cuttack, Odisha, India
|Indian School of Business and Finance, Delhi (dropout)
|Father: Ramesh Agarwal
Mother: Not know
Ritesh Agarwal Career
2011 saw Ritesh Agarwal, then 17 years old, become the youngest CEO in India when he took over Worth Growth Partners. The business assisted international businesses in entering and growing the Indian market. Ritesh’s company had to close because of his losses. In 2011, Ritesh Agarwal founded a new business called Oravel Stays.
Venture Nursery chose the company for an accelerator program in 2012, and the company was funded with Rs. 30 lakhs. The company operated on a similar business model to Airbnb, allowing customers to book reasonably priced hotel rooms online in India.
When his business began to grow in May 2013, he renamed it OYO (On Your Own) Rooms. It developed into a marketplace where hotels could brand themselves and attract guests at a low cost. As of 2023, OYO Rooms can be found in 80 different countries worldwide.
In addition to OYO Rooms, he is a director of Dayzero Holdings Private Limited since 2021, a partner in Redsprig Innovation Partners LLP since 2021, and a partner in Raaga Partners LLP since 2016.
Ritesh Agarwal and Starting of Oyo?
Inspired by numerous similar experiences, Ritesh decided to establish an online community for room reservations to provide clients with a positive housing experience. Ritesh started Oravel Stays Pvt. GmbH when he was eighteen years old.
Oracle is a new platform that finds hotels for any location and reduces the cost of reservations for people on a budget. After a few days, though, Ritesh realized that although he only offered rooms at half price, he could not satisfy customers by refusing to acknowledge their happiness.
He raised Rs 60,000 to launch Oravel in 2011 out of a hotel in Gurgaon. Ritesh has attained his extremely high-ranking OYO rooms with the aid of this money.
SoftBank provided $100 million in funding for OYO Rooms in July 2015. Following the opening of OYO Rooms in Gurgaon, the company has expanded to operate 4,000 hotels across 160 Indian cities. His OYO team gets in touch with this hotel and instructs them on how to share and make some changes.
Today, OYO Rooms is known as the largest chain of budget hotels in India, and all of this has happened because of Ritesh Agarwal’s tireless efforts.
In the category of consumer technology, Ritesh Agarwal has been included in Forbes’ “30 under 30” list.
Many other honors have also been bestowed upon him, including the “Business World Young Entrepreneur Award in 2015,” the “TiE-Lumis Entrepreneurial Excellence Award in 2014,” the “Top 50 Entrepreneurs in 2013 by TATA First Dot powered by NEN Awards,” and the “8 Hottest Teenage Startup Founders in the World by Business Insider.”
Ritesh Agarwal’s Wife and Children
Ritesh Agarwal wed Geetansha Sood on March 7, 2023. Geetansha Sood is employed as a director of Formation Ventures Limited, a Kanpur-based private company. On December 7, 2023, a son named Aryan was born to them.
Before getting hitched in 2023, Ritesh Agarwal dated Geetansha Sood for 11 years.
Facts About Ritesh Agarwal
- When Ritesh was just 13 years old, he used to sell SIM cards.
- Despite enrolling in the Indian School of Business and Finance’s University of London International Programme, he never felt particularly engaged in the subject and preferred to attend several events focused on entrepreneurship.
- When Ritesh was seventeen, most kids didn’t even know what to do. He left college early to follow his dream of starting his own business.
- Subsequently, “OYO Rooms” were established in January 2013. This is an Indian hotel chain that manages, owns, and consolidates standard hotel rooms. The company has operations in Nepal and Malaysia.
- He was put forward for the 2013 “Thiel Fellowship,” a two-year initiative started by PayPal founder Peter Theil. Some of the most innovative businesspeople, including Elon Musk and Mark Zuckerberg, teach students. During that time, he was also given a fellowship worth $100,000. He was the inaugural Asian recipient of the Thiel Fellowship.
- His company, which began operations in a single Indian city, now operates 7,000 hotels with roughly 70,000 rooms spread across 200 Indian towns as of April 2017.
- Agarwal posted a throwback photo to Twitter in August 2023. It shows him chatting on the phone with a customer and the front office manager of his third Gurgaon property standing next to him. “Throwback to 2013/14,” Ritesh wrote, “with the front office manager in front of our third property in Gurgaon.” I don’t exactly recall who I was speaking with, but it was probably a client attempting to make a hotel reservation at midnight because our website had crashed.
- In 2023, Ritesh Agarwal made an appearance on the business reality television program “Shark Tank India” as a judge. Sony Entertainment Television (SET) and SonyLIV both carried the series.
Ritesh Agarwal Car Collection
- Mercedes-Benz S 350D priced at 1.4 crores of rupees
- Cost of Audi A4: 45 lakhs
- Worth one crore rupees, Land Rover Range Rover Sports
- Mercedes-Benz E200 priced at 64 lakhs rupees
- A Toyota Fortuner with a 36-lakh value
- Worth Rs. 1.1 crores is a BMW X5.
- Value of a Maruti Brezza: Rs 15 lakhs
Ritesh Agarwal’s Net Worth
The Indian businessman Ritesh Agarwal is worth a whopping $3 billion. He is best known for being the creator of OYO Rooms, and he has had a significant impact on how the hospitality sector has changed. Agarwal has achieved great financial success thanks to his vision and leadership, and his net worth reflects his important influence on the business community.
Who is Oyo’s Largest Investor?
54 institutional investors, including Lightspeed India, SoftBank Vision Fund, and Airbnb, are part of OYO. The biggest institutional investor in OYO is SoftBank.
Does Shark Tank Feature Ritesh Agarwal?
The youngest member of the panel on Shark Tank India Season 3 is Ritesh Agarwal, the founder and CEO of OYO Rooms.
Who’s the Wife of Ritesh Agarwal?
Ritesh Agarwal, the founder of Oyo, and his spouse Geetanshi Sood recently welcomed a boy into their family. Ritesh Aggarwal announced the arrival of the newest family member and said, “Our hearts are forever changed.
For What is Ritesh Agarwal Well-known?
OYO’s founder and CEO, Ritesh Agarwal, is an Indian billionaire businessman. With 1,500 employees spread across 154 cities and a monthly revenue of $3.5 million, OYO Rooms is the largest hotel network in India.