Ritesh Agarwal Biography, Education, Age, Wife, Family, & More
Posted by | Navya Nanda
Ritesh Agarwal, born in 1993 and raised in the quaint town of Bisam in Cuttack, Odisha, serves as both the founder and CEO of OYO Rooms, India’s largest hotel network. OYO Rooms boasts a robust presence with operations in 154 cities across the nation, employing a workforce of 1,500 individuals and generating a substantial monthly revenue of $3.5 million. Agarwal completed his schooling within his home state. You can discover the entire Ritesh Agarwal biography within this article
Ritesh Agarwal Biography
Observing the impressive growth of his business, Ritesh Agarwal devised a strategic plan to expand its reach into international markets, with a keen focus on countries such as China, Europe, and the United States. His visionary leadership and entrepreneurial prowess have earned him a plethora of prestigious awards and accolades. Notably, he was recognized in Forbes’ esteemed “30 Under 30 Asia” list in both 2016 and 2018, a testament to his outstanding contributions to the business world.
|Real Name||Ritesh Agarwal|
|DOB (Date of Birth)||16 November 1993|
|Birthplace||Cuttack, Odisha, India|
|Hometown||Cuttack, Odisha, India|
|College/ University||Indian School of Business and Finance, Delhi|
|Feet & Inches||5’ 9”|
|Father Name||Ramesh Agarwal|
|Mother Name||Name Not Known|
|Net Worth||$1.1 billion (₹7253 crores)|
|Food||Mutton Akhni Briyani|
|Actors/Actress||Madhuri Dixit, Shahrukh Khan|
|Song||“Dil Tadap Tadap”|
|Destination||France, South Africa|
His birthdate is November 16, 1993, in Orissa, India, and he has reached the age of 29.
Ritesh Agarwal hails from a Marwari family and was born in Bissam Cuttack, Odisha, India. He spent his formative years growing up in Titilagarh. His family consisted of four members, including his father, Ramesh Agarwal, who sadly passed away on March 10, 2023. Ramesh Agarwal was also an accomplished businessman, contributing to the family’s entrepreneurial legacy.
After completing his education at St. John’s Senior Secondary School, he relocated to Delhi for college. However, he made the pivotal decision to discontinue his college studies shortly thereafter in order to launch OYO. This entrepreneurial journey led to a significant milestone when he became the inaugural Indian recipient of the Thiel Fellowship in 2013.
On March 7, 2023, Agarwal entered matrimony with Geetansha Sood, who hails from Lucknow.
At The Age of 19 Years
The young entrepreneur found great excitement in traveling, and this passion led him to embark on extended journeys at the tender age of 19. During these travels, he would often spend time at budget hotels. It was during these formative experiences that he laid the foundation for what would become OYO. In its initial stages, OYO primarily focused on budget accommodations.
First Indian Resident to Win the Thiel Fellowship
Ritesh became the first Indian resident to win the Thiel Fellowship award which is considered a coveted scholarship award.
In 2013, Oravel Travels was relaunched as OYO (On Your Own) Rooms
Software developers in the industry require not only technical skills but also a robust mindset and a clear vision. In the case of Ritesh Agarwal’s venture, the innovative model played a pivotal role in empowering small, independent hotel owners to enhance the quality of their services through both substantial and incremental improvements. As the company began to achieve gross billings exceeding 1 crore per month, it was evident that the idea of creating India’s largest platform for standardizing and optimizing accommodations had borne fruitful results. In the early stages of his entrepreneurial journey, Ritesh secured approximately $100,000 in funding, which served as a catalyst for the inception of OYO.
In the year 2011, Ritesh Agarwal initiated a venture akin to Airbnb, which he aptly named “Oravel Stays.” Recognizing the potential of his concept, he enrolled in the accelerator program called Venture Nursery in 2012. It was during this program that the company was not only accepted but also made considerable strides in its development.
A significant milestone arrived in 2013 when the company secured one of the prestigious Thiel Fellowships, a remarkable achievement that came with a grant of $100,000 in funding. This financial boost provided the necessary impetus for the company’s growth.
Awards & Recognition
- -First Resident Asian to win ’20 Under 20’ Thiel Fellowship in 2013.
- -One of the Top 50 Entrepreneurs by TATA First Dot Awards in 2013.
- -One of the 8 Hottest Teenage Start-up Founders in the World by Business Insider in 2013.
- -Received TiE-Lumis Entrepreneurial Excellence Award in 2014.
- -Forbes “30 Under 30” in the Consumer Tech Sector.
- -Young Entrepreneur Award by Business World.
Ritesh Agarwal’s estimated net worth stands at approximately $1.1 billion.
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