Ritesh Agarwal is the founder and CEO of the disruptive hospitality company and app Oyo Rooms, a network of 2,200 hotels operating in 154 cities across India with monthly revenue of $3.5 million and 1,500 employees. With the results of the CB Insights research, published in the New York Times.
It raised a total of $125 million in funding in 4 rounds from 7 investors. Agarwal has won numerous awards and accolades for his work, including the Business World Young Entrepreneur Award. A regular speaker at business conferences and institutes in India and around the world and a member of the Thiel Foundation.
Ritesh Agarwal Profile
|Famous for/as||Founder, CEO of OYO Rooms.|
Ritesh Agarwal Personal Life Info & More
Ritesh Agarwal was born on 16 November 1993, in Bissam Cuttack Odisha. Currently, he is 28 years old, He was from a middle-class Marwari family. His zodiac sign is Scorpio and he follows the Hinduism religion.
|Date of Birth/Birthday||16 November 1993|
|Age (as in 2021)||28|
|Birthplace||Bissam Cuttack, Rayagada, Odisha, India|
|Zodiac Sign/Sun Sign||Scorpio|
Ritesh Agarwal Height, Weight, Physical Stats & More
|Height (approx.)||in meters – 1.75 m
in feet-inches – 5’ 9”
|Weight (approx.)||in Pounds – 154 lbs
in Kilograms – 70 kg
Ritesh Agarwal Family Members Names & Information
His family consists of the mother, father and three brothers, Behenen. His father works at Infrastructure Corporation and his mother is a homemaker.
Ritesh Agarwal Marital Status & More
Ritesh Agarwal Education Qualification, School & College
However, to start his business, he did not complete his higher education and left university halfway through. Ritesh was very inspired by Bill Gates, Steve Jobs and Mark Zuckerberg from an early age. Today, Ritesh is an entrepreneur from India who started his entrepreneurial career at the age of 17, something very few people are capable of doing at a young age.
|Educational Qualification||College Dropout|
|School||St. Johns Senior Secondary School|
|College/University||Indian School of Business and Finance|
Ritesh Agarwal Favourite Things/Like & Dislike
Ritesh love to visit new places. He has had many opportunities to hike and has travelled to many places around the world.
|Favourite Actor||Priyanka Chopra, Salman Khan|
Ritesh Agarwal Money Factor
|Net Worth||$1.1 billion|
Ritesh Agarwal and the Creation of OYO:
Ritesh was inspired by many similar experiences and decided to create an online room reservation community to offer customers a good housing experience. At the age of 18, Ritesh founded Oravel Stays Pvt. GmbH started.
Oracle is a startup platform that creates a list of hotels in any location and makes your reservation half price on people’s budgets. But after a few days, Ritesh realized that he only gives people the rooms at half price, but he can’t fulfil them by ignoring the customer’s delight.
He started Oravel in 2011 from a hotel in Gurgaon and raised Rs 60,000. With the help of this money, Ritesh has achieved his very high ranking OYO rooms.
In July 2015, SoftBank funded OYO Rooms with $100 million. After the launch of OYO Rooms from Gurgaon, this company has opened 4,000 hotels in 160 cities in India and this number keeps growing. His OYO team contact this hotel and tell them how to change some things and share.
The name of OYO Rooms has become popular today with the name of the biggest chain of cheap hotels in India and it is all the result of the hard work of Ritesh Agarwal.
Ritesh Agarwal has been named in the Forbes List “30 under 30” in the consumer tech sector. He has also received numerous awards such as “Top 50 Entrepreneurs in 2013 by TATA First Dot powered by NEN Awards”, “8 Hottest Teenage startup founders in the World by Business Insider”, “TiE-Lumis Entrepreneurial Excellence Award in 2014″, ” Business World Young Entrepreneur Award in 2015 ”.
Controversies related to Ritesh Agarwal and OYO:
1. Oyo’s Co-founder, Traitor
Ritesh is accused of betraying Oyo’s co-founder, Manish Sinha, at the start of the company.
2. Fine in the United States
Agarwal has signed agreements through his company OYO with hoteliers in the United States in which the owners’ buildings will be renamed OYO in exchange for compensation and guaranteed income but ignored the information that OYO is not licensed to the franchise business in the state of California for which OYO was fined $200,000 by California regulators in March 2019. Proper registration.
3. Fraud Allegations
A lawsuit against Agarwal in Dera Bassi was filed in September 2020 by a Chandigarh-based businessman for fraud and conspiracy under IPC 420 (deception) 120 B (criminal association).
OYO suffered a backlash from 10,000 hotel owners in India. According to them, OYO absorbs half or more of the revenue through fees that are not disclosed at the time hotels join OYO.
According to an October 2019 report, police charges have been filed against OYO by hoteliers in Bangalore, Mysuru and other towns in Karnataka accusing Agarwal of fraud. The latter, however, appealed an order to stay a case in Bangalore.
Ritesh Agarwal Social Media Accounts & Channels
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