Ritesh Agarwal is an Indian billionaire entrepreneur and the founder and CEO of OYO Rooms, a popular hotel chain. In 2024, he was a panelist on Shark Tank India (season 3).
OYO is India’s largest hotel chain, earning $3.5 million in monthly sales. In 2012, at just 25 years old, Ritesh became the world’s second-youngest self-made billionaire.
Ritesh Agarwal Biography
He was born on November 16, 1993, in Bissam Cuttack, Odisha (formerly Orissa), India. He comes from a Marwari family and grew up in Titilagarh.
At just 13 years old, Ritesh started selling SIM cards. He is now the founder of OYO Rooms and one of the investors and judges on the business reality show Shark Tank India.
Education & Early Life
Ritesh Agarwal, the founder of OYO, went to college in Delhi after finishing school at St. Johns Senior Secondary School in Kota, Rajasthan. However, he dropped out of college, and in 2013, he was selected for the Peter Thiel Fellowship.
This fellowship, which is for young people under 22, gives $100,000 over two years to help them pursue alternative career paths like starting a business or doing scientific research.
At just 13 years old, Ritesh started selling SIM cards. In 2011, he started a company called Oravel with only Rs 60,000, focusing on offering hotel rooms.
His company struggled financially, but when he learned about the Peter Thiel Fellowship, he applied and was selected as one of the 20 young entrepreneurs to receive the $100,000. He was the first person from India to join the fellowship.
With the support from this fellowship, Ritesh was able to grow his company, which later became OYO Rooms. Afterward, several venture capital firms, including Venture Nursery, Lightspeed Ventures, Sequoia, and SoftBank, provided financial support, helping OYO become successful. In 2015, SoftBank invested $100 million into the company.
Since its launch in Gurgaon, OYO Rooms quickly expanded to 4,000 hotels in 160 cities across India, and the number is still growing. Recently, the company has also launched in Malaysia.
Family & Wife
He is married to Geetansha Sood, a businesswoman. They got married on March 7, 2023. The couple has a son named Aryan Agarwal, born on December 7, 2023.
Ritesh’s father, Ramesh Agarwal, a businessman, passed away in 2023. Ritesh has an older brother named Aashish Agarwal, who is also a businessman.
OYO Rooms Founder Journey
In 2011, Ritesh Agarwal started a business called “Oravel Stays,” which was similar to Airbnb. His business got a boost through the Venture Nursery program in 2012 and won a $100,000 grant from the Thiel Fellowship in 2013. The company was rebranded as OYO Rooms in May 2013.
By September 2018, OYO raised $1 billion in funding. In July 2019, Ritesh bought $2 billion worth of shares, increasing his ownership in the company.
Ritesh was included in Forbes’ 30 Under 30 list for Asia. In 2023, he became the youngest “Shark” to appear on Shark Tank India.
In 2024, Ritesh continued leading OYO as the company expanded further, particularly in countries like the U.S., the U.K., Southeast Asia, and the Nordic countries.
He also predicted that spiritual tourism would grow significantly in India, pointing to a rise in bookings for holy places like Ayodhya. This trend was already showing, as bookings to such destinations increased by 70% over popular tourist spots like Goa.
Networth & OYO Rooms Valuation
As of 2023, Ritesh Agarwal’s net worth is estimated to be around $2 billion. By September 2018, his company had raised $1 billion in funding. In July 2019, Ritesh bought $2 billion worth of shares in his company, which greatly increased his ownership.
He was listed in Forbes’ 30 Under 30 for Asia and became the youngest “Shark” on Shark Tank India in 2023.
In May 2024, OYO reported its first-ever profit of ₹229 crore for the financial year 2023-24. This success was driven by consistent positive earnings over the past two years.
The company’s adjusted EBITDA (a measure of profitability) grew by 215%, reaching ₹877 crore, up from ₹277 crore the previous year.
| Name | Ritesh Agarwal |
|---|---|
| Profession | Entrepreneur |
| Famous For | Founder of OYO Rooms |
| Date of Birth | November 16, 1993 (Tuesday) |
| Age (as of 2023) | 30 Years |
| Birthplace | Bissam Cuttack, Rayagada, Odisha, India |
| Zodiac Sign | Scorpio |
| Nationality | Indian |
| Hometown | Cuttack, Odisha, India |
| School | Sacred Heart School, Rayagada, Odisha |
| St. Johns Senior Secondary School | |
| College/University | Indian School of Business and Finance, New Delhi |
| Educational Qualification | College dropout |
| Wife/Spouse | Geetansha Sood (businesswoman) |
| Children | Son – Aryan Agarwal (born December 7, 2023) |
| Parents | Father – Ramesh Agarwal (died in 2023; businessman) |
| Net Worth | $2 billion |
| Social Media Links | Instagram X |
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