Trivias Around start... • 10m
A Brief Timeline: Ritesh Agarwal Picture Ritesh Agarwal, born in 1993 in Odisha, India. At just 13, he's already hustling, selling SIM cards and making his first entrepreneurial strides. By 16, he's earned enough to buy his first computer for ₹50,000 ($600). At 17, in 2010, Ritesh takes a leap of faith to Delhi with barely ₹8,000 ($100) in his pocket. Imagine him in a tiny 100 sq. ft. apartment, sharing space with 5 others, often sleeping on the floor. He's living on a shoestring budget of ₹300 ($4) per day. Fast forward to 2013. Ritesh, now 19, launches Oravel Stays with an initial investment of ₹30 lakh ($40,000). Picture him pitching to skeptical hotel owners, aiming to onboard just 10 properties in the first month. By 2014, OYO Rooms is born. Ritesh, at 21, becomes the first Indian to win the Thiel Fellowship, receiving $100,000. The company raises its first major funding of $1 million. Ritesh in 2015, at 22, as OYO secures a massive $100 million in funding. The company goes from 30 hotels in 1 city to over 1,000 hotels across 100 cities in just 2 years. By 2017, at 24, Ritesh is overseeing OYO's expansion to Malaysia, its first international market. The company's valuation soars to $850 million. 2018 sees OYO becoming a unicorn, valued at $5 billion. Ritesh, at 25, buys back $1.5 billion worth of shares from early investors. Then comes 2020 and the pandemic. OYO's valuation drops from $10 billion to $8 billion. Ritesh, now 27, faces the tough decision of laying off 5,000 employees globally and furloughing thousands more. Through it all, Ritesh remains that same ambitious boy from Odisha. By 2022, at 29, he's steered OYO to operate over 157,000 storefronts across 35 countries. His journey from a small town to building a company once valued at $10 billion (currently $2.4 Billion) exemplifies the potential of young Indian entrepreneurs.
Building-HatchUp.ai • 7m
Oyo CEO Ritesh Agarwal is set to increase his stake in the company from 30% to 32% by investing another ₹550 crore, reports said. Agarwal will buy over 12.9 crore shares at 42.60 apiece and the investment will value Oyo at 32,000 crore, reports added
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OYO Rooms In the early days, OYO's founder Ritesh Agarwal went door-to-door convincing budget hotel owners to join their network without any upfront investment from OYO. With limited funds, the team operated ultra-lean - reusing office supplies and
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From a Dropout to a Billion-Dollar Empire – The OYO Story At 17, Ritesh Agarwal dropped out of college with a dream to revolutionize the hospitality industry. Facing rejections, financial struggles, and skepticism, he kept pushing forward. What sta
See MoreTrying to do better • 8m
Ritesh Agarwal-led hospitality giant OYO recorded a net profit of Rs 158 crore and revenue of Rs 1,578 crore in Q2 FY25, PTI reported. This marks a significant turnaround, as the company had posted a net loss of Rs 50 crore during the same period la
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Sajith Pai recently posted TIL that Doug Leone was v unhappy w Masa for 'overfunding' Oyo, and giving their voting rights to Ritesh Agarwal. The culture clash is real: Doug Leone: "Oyo doesn't need the money" Masa: "We will give him so much mon
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