Ritesh Agarwal, the CEO and Founder of OYO Rooms which is considered as the largest hospitality chain in India.
Thinking Big, Doing Big, a constant thinking Ritesh Agarwal had. He was born in Bissamcuttack, A village in Rayagada district of Odisha. Ritesh was always fascinated by computers and software’s which made him learn coding at the age of 8. After completing his schooling he went for coaching in Kota for IIT preparation. Apart from this Ritesh also wanted to move out of his town and it was the best place as it the the farest place he can go within India. He was quite fond of travelling and in every weekend he use to travel to Delhi and other places to be a part of conferences and listen to entrepreneurs. Ritesh most of the time goes to Delhi and does different kinds of work to gain experience. He had even worked as a SIM card seller during those days.
He always had a dream of starting something new and this dream led him to apply for Thiel Fellowship. Thiel Fellowship was started by Peter Thiel the owner of Pay Pal. Peter was giving $100,000 to 20 people across the world but the condition behind it was that the guy should be a college dropout and should be below 20 years of age. Ritesh Agarwal became the winner and was the first Asian resident to be a part of Thiel Fellowship. It was the turning point of his life.
Before starting OYO, Ritesh Agarwal started with Oravel stays Pvt.Ltd at the age of 17. Oravel stays Pvt Ltd was not a great success and later at the age of 19 he stated with OYO Rooms. Today OYO Rooms became the fastest growing hotel chain in the world with over 60,000 Franchises worldwide.
Achievements of Ritesh Agarwal-
- He was the first Asian to be a member of Thiel Fellowship
- Ritesh was named among the top 50 Entrepreneurs by the TATA first dot award in 2013
- He was the Finalist of Global student Entrepreneurship Awards India.
- He was also named among the 8 hottest teenage startup founders in the world by Business Insider in the year 2013
Net worth of Ritesh Agarwal
Today Ritesh at 24 became the youngest Indian to find a place in Hurun’s rich list of 2018. Soon after completing his schooling he became a millionary at 22. Today OYO Rooms is growing exponentially. According to a report released Ritesh Networth in 2018 is $2,600 crore. This Report was released on the same date when OYO announced its $1 billion Funding round and raised its valuation to $5 billion.