OYO Rooms has raised over $125 million from SoftBank, Greenoaks Capital, Sequoia Capital and Lightspeed India and several angel investors. "Forbes will assume that everything your company or firm talks about is a lie," the magazine's editor, Randall Lane, wrote. OYO never got success overnight. And into his approach. Its portfolio combines fully operated real estate (comprising more than 23,000 hotels and more than 850,000 rooms) and 46,000 vacation homes. Forbes. Thank you for your comment, we value your opinion and the time you took to write to us! Like. The OYO Rooms model is simple and differentiated (this is no me-too Airbnb, for instance): It partners with hotels to standardise rooms under the OYO Rooms brand so that the traveller experience is the same across cities, including free WiFi, breakfast and spotless white bed linen, with a per-night cost between Rs 999 and Rs 5,400. OYO Rooms works on a commission model, an average of 20 percent on the total booking value facilitated by it. A college dropout, he became the first resident Indian at 19 to win the prestigious Thiel Fellowship, a two-year programme started by PayPal founder Peter Thiel.This profile is part of the 2016 Forbes India’s 30 Under 30 project, which celebrates the talent and promise of India's 30 youngsters under the age of 30. I was 15 then. It's unlikely, Inside 'unicorn hunters' Accel India's VC play, and our PE/VC special, Challenging the myths of meritocracy, with Prof. Michael Sandel. He became the youngest chief executive officer (CEO) in India at his 17. Ritesh Agarwal of Oyo Rooms featured in the consumer tech segment. To visit our Archives, click here.). “Every week, I go to an OYO Rooms hotel to get first-hand experience,” says Agarwal. Ritesh Agarwal Of Oyo Is Giving Budget Travellers A Variety Of Options Across The Country. But still I have a lot more to come and make it usual for me to feature with them on such lists. We like his ability to communicate and convince; he gives us confidence that he can execute,” says Sanjay Mehta, an angel investor in OYO Rooms and founder of MAIA Intelligence.The boy who once sold mobile SIM cards has had a prodigious career so far, even penning a book, The Encyclopaedia of Indian Engineering Colleges, at 17. The founder of OYO Rooms believes in “living the experience” he is selling. For this 23-year-old founder of OYO, India’s largest branded network of budget hotels, it all comes from within. WATCH: Jadugar Anand’s blindfold stunt on motorbike in Bhubaneswar. https://www.forbes.com/pictures/56cbaa4ee4b062f6b59a425c/ritesh-agarwal At 16, Ritesh was among 240 children selected to be part of the Asian Science Camp held at the Tata Institute of Fundamental Research (TIFR) in Mumbai. You can buy our tablet version from Magzter.com. This advertisement has not loaded yet, but your article continues below. Stanley Cups won during Samueli's tenure : One — 2007. Ritesh Agarwal, the founder and CEO of OYO Rooms, is among the 45 Indians or Indian-origin people who have made it to Forbes’ annual list of achievers under the age of 30. Despite a string of negative publicity, Oyo founder Ritesh Agarwal has been named the youngest Indian in the rich list with a networth of $1.1 billion (Rs 7,800 crore) according to Hurun Global Rich List 2020.Interestingly, his net worth has increased by Rs 300 crore since last year. Ritesh Agarwal, founder of OYO Rooms, is the second youngest self-made billionaire in the world, according to the ninth edition of the Hurun Global Rich List 2020. https://incredibleorissa.com/oyo-rooms-founder-ritesh-agarwal-in-forbes-list Forbes has termed Agarwal’s OYO Rooms as the Airbnb of India. The OYO Success Story. Agarwal graduated from the St Johns Senior Secondary School and used to sell sim cards from the age of 13. He is among the 45 Indians or Indian-origin people who have made it to annual Forbes list of achievers under the age of 30. In Kota, where he was ostensibly preparing for his IIT entrance exams, Ritesh says he couldn’t wait every weekend to slip out to Delhi and meet those doing their own thing. Ritesh Agarwal . Story continues below. 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Click here to see Forbes India's comprehensive coverage on the Covid-19 situation and its impact on life, business and the economy​, (This story appears in the 19 February, 2016 issue of Forbes India. OYO Rooms is a website where Hotel owners can list and customers can make their bookings. Ritesh Agarwal, founder, Oyo Hotels. 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Designed by Peter Thiel, The founder of brand PayPal awarded a twenty two year old Indian college drop-out with a fund of $100, 000 which helped him to turn his dreams into a reality. He received the business world young entrepreneur award in the year 2015. Worth: $1.1 BillionRitesh Agarwal, founder of OYO Rooms, is the second youngest self-made billionair... Read More. According to Wikipedia Ritesh Agarwal’s Net Worth is $365 Million. Entrepreneurship can’t be taught in college. Born in Bissamcuttack, a village in Rayagada district of Odisha, Ritesh started coding software when he was eight years old. After 3 months of research work, Ritesh Agarwal founded Oyo Rooms in 2013when he was just 18 years old. 2020 Bentley Flying Spur Review: Superior comfort and … In the consumer tech segment is 22-year-old Ritesh Agarwal, the founder and CEO of OYO Rooms, billed to be the Airbnb of India. The self-made billionaire was praised by US President, Donald Trump, when he was … “He is very receptive to investor ask and in filling his own gaps. "We're going to … He went to Delhi to attend college where he dropped out at the age of 17 to start a business. Ritesh Agarwal | Pune Area, India | Business Development Manager - Maharashtra at Forbes Facility Services Pvt Ltd | 138 connections | View Ritesh's homepage, profile, activity, articles The 26-year-old college dropout, Ritesh … “In a country that lacks a steady supply of budget hotel chains, OYO has developed a network of 2,200 small hotels in 100 cities across India,” Forbes said. When he was 17, Ritesh authored a best-selling book; The Encyclopaedia of Indian Engineering Colleges. Ritesh Agarwal | 22Founder, OYO RoomsCategory: Ecommerce The next time you stay in an OYO Rooms branded hotel and notice a tall, thin guy with tousled hair staying in the room next to yours, chances are you’ve spotted Ritesh Agarwal. OYO Rooms offered standardized services like free wife, breakfast, clean bed, Flat LEDs and much more. And hence knowing the story is more important. Investors have bought into his story. Tags: Travel, Sequoia Capital, Lightspeed Venture Partners, Steve, Ritesh Agarwal, Forbes, Albrecht, Oyo, NACD, Association of Certified Fraud Examiners, Aditya Ghosh, Troy Alstead, United Nations FBI, American Accounting Association, Mohit Bhatnagar, Brigham Young University He. The Forbes fifth annual ’30 Under 30′ list features 600 women and men, who are America’s “most important young entrepreneurs, creative leaders and brightest stars” and are “changing the world” across … Ritesh Agarwal came up with an aggregator business model that helped OYO to get more reach. The OYO Rooms Success plays a significant role in Ritesh Agarwal Wiki. Highest-paid player : Ducks … Ritesh Agarwal is the only Asian who has won the prestigious Thiel Fellowship in the same year in which he launched his start-up Oravel Travels. He started the start-up with the objective to provide budgeted hotels to the travelers, couples, and peoples on the trip. Of a company called Worth Growth Partners. At just 18, Ritesh set up Oraval Stays in 2011, a hotel rental startup, which is now Oyo Rooms in a new avataar. He was named in the Forbes list of 30 under 30 in the consumer tech sector which in itself is such a great venture. Ritesh Agarwal, founder and CEO of Oyo Rooms, is among the 45 Indians or Indian-origin people who have made it to Forbes’ annual list of achievers under the age of 30. Ritesh Agarwal was born on 16th November 1993 in Bissam Cuttack in the state of Odisha in India. The company CEO Ritesh Agarwal founded six years ago has since secured investment from Airbnb, SoftBank Vision Fund, Greenoak Capital, Sequoia Capital and Hero Enterprise. He even sold sim cards to survive, afraid his well off family would end his entrepreneurial dreams and summon him back home to Odisha if they knew of his struggles. A college dropout, who once wanted to sit for an engineering exam, Ritesh now heads among the most valuable start-up by a person who never studied beyond school. With the help of, Jadugar Anand’s blindfold stunt on motorbike in Bhubaneswar. “If you want to change the world, being under 30 is now an advantage,” Forbes said. I had the same idea a little different 3 years ago but because of my age I was not able to capitalise on the idea. One would have read the signs … Ritesh Agarwal Founder OYO. Forbes is a global media company, focusing on business, investing, technology, entrepreneurship, leadership, and lifestyle. Paramita Chatterjee. Oyo Rooms founder (CEO), Ritesh Agarwal is just 22 years old. This attention to detail is paying off: OYO Rooms is the largest branded network of budget hotels in India, with over 4,000 hotels in more than 160 cities. The firm supports hotel owners by training their staff in house-keeping and services, uniformity of supplies and technology integration. Forbes estimates the franchise is now worth $415 million. Not at least to Ritesh Agarwal. Ritesh Agarwal Oyo Rooms founder is the first Indian resident to win the Thiel Fellowship which is a coveted scholarship award. … The first on our list is Byju Raveendran, founder of the major ed-tech startup Byju’s Next on the list is Ritesh Agarwal -- CEO of Oyo Rooms Sachin Bansal, an ex-Amazon employee, teamed up with his friend Binny Bansal to start an Amazon-like marketplace for the Indian market in 2007, dubbed Flipkart Fifth on the list is Karan Bajaj, the founder of WhiteHatJr -- an ed-tech startup that aims … A college dropout in a country where university pedigree is obsessed over, Agarwal has become an unlikely business star, with frequent appearances on televised award shows and a cover story last year in Forbes India. 2. The next time you stay in an OYO Rooms branded hotel and notice a tall, thin guy with OYO Hotels & Homes was founded by 26-year-old Ritesh Agarwal, the first resident Asian to be accepted to the Thiel Fellowship (started by Paypal founder Peter Thiel). 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According to 5th Annual Forbes list under 30 list features 600 women and men, who are America’s most important young […] A look at how Ritesh Agarwal, a Forbes India 30 Under 30 2016 alumnus, is carving a niche in the global hospitality market New York: 22-year-old Ritesh Agarwal, founder and CEO of Oyo Rooms, is among the 45 Indians or Indian-origin people who have made it to Forbes' … BTVi National Awards for Marketing Excellence: CEO of the year (2019) -Ritesh Agarwal; Forbes Tycoons of Tomorrow List; EY Entrepreneur of the Year 2018 – Services; StartAP Entrepreneur of the Year Award (2018) Dataquest IT Person of the Year (2018) Best Entrepreneur of 2018 by the International Hospitality Council (IHC) (2018) GQ India – 50 Most Influential Young Leaders … Travelling across India at the age of 17, Ritesh stayed in more than 100 bed and breakfasts, guest houses, and hotels to realize there was a massive dearth of affordable and … Stay invested in the markets, despite global challenges, Hero Cycles will surprise its customers soon, says Pankaj Munjal, Hike joins Unicorn club; raises over $175 mln from Tencent, Foxconn, India is leading Panasonic's growth, says president Tsuga, Myntra acquires Jabong to become the biggest online fashion shopping destination, Byju's in advanced talks with investors to raise $50 million, The three must-haves angel investors look for, Sahil Barua: Leading E-commerce logistics with Delhivery, the 2016 Forbes India’s 30 Under 30 project, How Indian personal care brands are going niche, Accel India: Decoding founders' mentality to spin success, Ace of Club: How Mahindra Holidays & Resorts rode the Covid storm, How PE firms are becoming bullish on startups in India, How India is pulling off the world's largest Covid-19 vaccination programme, 93.5% vs 45%: The inside story on how Ajay Piramal clinched DHFL, Could a small city become the next Silicon Valley? 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