A guy was on the path of solving the problems of many at the age of 17, people will talk about his journey of Oyo Owner Ritesh Agarwal’s net worth, age, school, wife, and more., he also did not have an idea at the age of 17 that someday people will be interested to know about these things about him. let’s have interesting information about Oyo Owner Ritesh Agarwal.
Who Is Ritesh Agarwal?
India’s youngest entrepreneur and the owner of the Oyo is Ritesh Agarwal. He is the second youngest billionaire in 2020 and also won Business World Young Entrepreneur Award. He started working on his idea at a very young age, which is why he is one of the youngest players in his field.
Oyo Owner Ritesh Agarwal Net Worth, Age, School, Wife
| Net Worth: | $1.1 billion |
| Name: | Ritesh Agarwal |
| Net Worth In Indian Rupees: | 8800 Crore INR |
| Education Qualification: | HSC |
| School Name | St. Jhons Senior Secondary School |
| Date of Birth: | November 16, 1993 |
| Birth Place: | Bissam, Cuttak, Odisha, India. |
| Gender: | Male |
| Profession: | Businessman |
| Nationality: | Indian |
| Age: | 29 Yrs |
| Wife | Geetansha Sood |
How the Idea of Oyo came?
Ritesh Agarwal just finished his schooling and doing an internship after schooling, he was making social media pages and websites for small companies in his internship, and from that, he earn some money, he loves to travel so he travels in that days so he take bus to Uttarakhand, Rajasthan, Himachal Pradesh and he found hotel rooms are very costly there, but he found small guest house and holiday homes are at very low prices.
So he find that these places are very clean but these are very unknown places and then he started his website and made a list of small and budget-friendly hotel rooms with the name of Oravel company, but unfortunately, that business doesn’t work, because of service quality maintenance.
And then he decided to take service quality maintenance responsibility for one property, that property’s occupancy was 20% at that time, and when he look after the check-in, check-out, and cleaning monitoring, on his own and also checked how the other hotel and their rooms appear their photos and videos on the website and social media and he started adverting with good quality photos and videos, also started booking rooms at lowest booking value (i.e. Rs.999/-) and now that property’s occupancy was 90% after doing all these work, and that’s how OYO started.
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Facts of Ritesh Agarwal
- Ritesh Agarwal Drop out of his college because he was not interested to continue learning in college.
- He used to sell Sim Card at the age of 13.
- Ritesh Agarwal received $100000 for his startup from “Thiel Fellow” a company run by PayPal Co-Founder Peter Theil in America Surprisingly no one has applied for this fellowship from Asia and Ritesh Agarwal was the first Asian to apply for this fellowship and he was selected in that 40 applicants and 20 applicants will be selected after that he was the one from that 20 applicants who got the price of $100000.
- Ritesh Agarwal once said that he failed 6 times in his start-up journey before Oyo Journey.
- Ritesh Agarwals comes from simple family background his father had a small shop in Odisha.
- Ritesh Agarwal once said in his interview with Sandeep Maheshwari that if you’re surrounded by people who think big and your dreams are small, then you think big day by day because you’re surrounded by people who dream big. So Surround yourself who dream big.
Oyo Hotel Journey
- Started from Gurgaon, India’s first hotel of Oyo, and today Oyo company serves in more than 35 countries with 1,57,000 hotels.
- First Oyo hotel open is in Gurugram, India owner of the hotel was Rajesh Yadav.
- Oyo Serves in Asia, Europe, and America
- Oyo had 17000 employees all over the world
- OYO Stands for On Your Own.
- Oyo started working internationally in 2018 and the first country after India was Malaysia.
Ritesh Agarwal Interview with Sandeep Maheshwari
Funding History Of OYO
- In the year 2018, Oyo received $1 billion from Virtue Investment Ltd.
- In the next year 2019, again received $1 billion from a Chinese Vehicle for hire company.
- In July 2019, Mr. Agarwal received $2 billion from RA Hospitality Holdings in the Cayman Islands. Company Valuation was $10 billion in that deal.
- In October 2019, Oyo again received $1.5 billion from Soft Bank Group and Lightspeed Venture Partners.
- In July 2021 Microsoft also showed interest funding in Oyo before its IPO of Oyo.
- In October 2021 Oyo raise $1.2 billion through an IPO.
- In January 2022 more than 500 employees of Oyo purchased around 3 Crore shares in the Company. The value of the share was $ 41 million.
Conclusion:
A Common man can achieve his dreams by consistently working on his idea. You don’t have to come from a rich or business family, if your ready to work hard in your initial days like Ritesh Agarwal and understand that he was also did all things on his own in his initial days like taking care of Check in, Check Out, Cleaning and so on other things, no one can stop you to be successful in your life.
FAQ
Is Ritesh Agarwal the second youngest billionaire?
Ans: Yes Ritesh Agarwal is the second youngest billionaire
Who Owns Oyo Rooms
Ans: A boy from Odisha, saw a dream of budget-friendly hotel rooms and make it real and the name of that boy is Ritesh Agarwal.
At what age Ritesh Agarwal became a billionaire?
At the age of 26 Ritesh Agarwal became Billionaire.
What is the net worth of Ritesh Agarwal today?
Approximately more than 2 billion, Ritesh Agarwal earns today.
What does Oyo mean?
“On Your Own” is the long form of OYO.