Ritesh Agarwal Biography
Ritesh Agarwal is an Indian billionaire entrepreneur and the founder and CEO of OYO Rooms, a hospitality and travel-tech firm that operates in more than 80 countries.
He is also a Thiel Fellow and a Shark Tank India investor. He is one of the youngest self-made billionaires in the world.
Ritesh Agarwal Age
Ritesh Agarwal is 30 years old as of 2024.
Ritesh Agarwal Early Life and Education
Ritesh Agarwal was born on 16 November 1993 in Bissam Cuttack, Odisha, India. He belongs to a Marwari family that ran a small shop in Rayagada, Odisha. He completed his schooling from Sacred Heart School, and later St. Johns Senior Secondary School, before moving to Delhi in 2011 for college.
Ritesh Agarwal was interested in coding and business since his childhood. He used to sell SIM cards when he was just 13 years old. He also read a lot of books on entrepreneurship, such as the biography of Steve Jobs. He participated in various entrepreneurship events and competitions, and won the Asian Science Camp at the Tata Institute of Fundamental Research in 2009.
Ritesh Agarwal enrolled himself for the University of London’s International Programme provided by Indian School of Business and Finance, Delhi, but he never felt connected to the course. He decided to drop out of college and pursue his dream of becoming an entrepreneur.
He started an Airbnb equivalent called “Oravel Stays” in 2011, which later evolved into OYO Rooms in 2013. He also received a grant of $100,000 from the Thiel Fellowship in 2013, becoming the first Indian to win the prestigious award.
Read Also: Shekhar Kashyap Biography: Wiki, Age, Wife, Career, Net Worth
Ritesh Agarwal Career
Ritesh Agarwal started his career in 2011, when he launched Oravel Stays, an online platform that offered short-term rentals and bed and breakfasts. He was inspired by his own experience of travelling across India and staying in various budget hotels. He wanted to create a solution for people looking for affordable and standardized accommodation around the globe.
Ritesh Agarwal participated in various entrepreneurship events and competitions, and won the Asian Science Camp at the Tata Institute of Fundamental Research in 2009.
He also received a grant of $100,000 from the Thiel Fellowship in 2013, becoming the first Indian to win the prestigious award. The fellowship allowed him to drop out of college and focus on his venture.
Ritesh Agarwal rebranded Oravel Stays as OYO Rooms in 2013, with a vision of becoming the world’s largest hotel chain. OYO Rooms offered a network of franchised and leased hotels that followed certain quality standards and offered amenities such as Wi-Fi, TV, AC, and breakfast. OYO Rooms also provided a mobile app and a website for customers to book rooms easily and convenienty.
Ritesh Agarwal expanded OYO Rooms rapidly, both in India and abroad. He partnered with various hotel owners, investors, and stakeholders, and leveraged technology and data to optimize the operations and customer experience.
He also diversified OYO Rooms into various segments, such as OYO Townhouse, OYO Home, OYO SilverKey, OYO Capital O, and OYO Life. He also acquired several companies, such as Zo Rooms, Weddingz.in, Novascotia Boutique Homes, and Leisure Group.
Ritesh Agarwal raised several rounds of funding from various investors, such as SoftBank, Sequoia Capital, Lightspeed Venture Partners, Airbnb, and Grab. He also invested in other startups, such as Innov8, HalaPlay, and MebelKart. He also became a Shark Tank India investor in 2024, where he mentored and funded aspiring entrepreneurs. He was featured in the Forbes 30 under 30 list for Asia in 2016.
Ritesh Agarwal Wife And Son
Ritesh Agarwal is married to Geetansha Sood, a native of Lucknow, since 7 March 2023. They have a son, named Aryan, who was born on 7 December 2023.
Ritesh Agarwal Net Worth
According to the web search results, Ritesh Agarwal’s net worth is estimated to be around $1.92 billion USD as of 2023. He is the founder and CEO of OYO Rooms, a hospitality and travel-tech firm that operates in more than 80 countries.
