{"id":75,"date":"2024-04-18T07:46:00","date_gmt":"2024-04-18T07:46:00","guid":{"rendered":"https:\/\/blog.christmascrackrecipe.com\/?p=75"},"modified":"2026-08-07T00:48:09","modified_gmt":"2026-08-06T19:18:09","slug":"oyo-ritesh-agarwal-dynamic-indian-billionaire","status":"publish","type":"post","link":"https:\/\/moneymita.com\/?p=75","title":{"rendered":"OYO RITESH AGARWAL: DYNAMIC INDIAN BILLIONAIRE"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_86 ez-toc-wrap-left-text counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/moneymita.com\/?p=75\/#RITESH_AGARWAL_The_OYO_Visionary_Dynamic_Indian_Billionaire\" >RITESH AGARWAL: The OYO Visionary Dynamic Indian Billionaire<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/moneymita.com\/?p=75\/#Value_Addition_Model_Of_OYO\" >Value Addition Model Of OYO<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/moneymita.com\/?p=75\/#Behind_OYO_Unveiling_The_Parent_Company\" >Behind OYO: Unveiling The Parent Company<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/moneymita.com\/?p=75\/#The_Members_On_the_Board_of_OYOs_Parent_Company\" >The Members On the Board of OYO\u2019s Parent Company<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/moneymita.com\/?p=75\/#Annual_Report_OYOs_Parent_Company_FY_2022-23_Insights_Unraveling_The_Numbers\" >Annual Report (OYO\u2019s Parent Company) (FY 2022-23) Insights: Unraveling The Numbers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/moneymita.com\/?p=75\/#OYO_IPO_Insights_Exciting_Times_Ahead_For_Ritesh_Agarwal\" >OYO IPO Insights: Exciting Times Ahead For Ritesh Agarwal<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/moneymita.com\/?p=75\/#OYOs_Triumphs_In_Trophies_Awards_Earned_On_Journey_To_Success\" >OYO\u2019s Triumphs In Trophies: Awards Earned On Journey To Success<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/moneymita.com\/?p=75\/#Riteshs_Revisit_To_Good_Old_Days_Balancing_Books_And_Business\" >Ritesh\u2019s Revisit To Good Old Days: Balancing Books And Business<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/moneymita.com\/?p=75\/#Tech_Enthusiast_Riteshs_Love_For_Learning_Technology\" >Tech Enthusiast Ritesh\u2019s Love For Learning Technology<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/moneymita.com\/?p=75\/#Ritesh_Agarwals_Ticket_To_Kota_For_Engineering\" >Ritesh Agarwal\u2019s Ticket To Kota For Engineering<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/moneymita.com\/?p=75\/#The_TIE_New_Delhi_A_Transformative_Turning_Point_For_Ritesh_Agarwal\" >The TIE New Delhi: A Transformative Turning Point For Ritesh Agarwal<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/moneymita.com\/?p=75\/#How_Was_%E2%80%9COravel_Stays_Limited%E2%80%9D_Born_In_The_Hands_Of_Ritesh_Agarwal\" >How Was \u201cOravel Stays Limited\u201d Born In The Hands Of Ritesh Agarwal?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/moneymita.com\/?p=75\/#Funding_Crunch_Challenges_Faced_And_Solutions_Derived_By_Ritesh_Agarwal\" >Funding Crunch: Challenges Faced And Solutions Derived By Ritesh Agarwal<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/moneymita.com\/?p=75\/#THE_GAME_CHANGER_%E2%80%9CThiel_Fellowship%E2%80%9D_And_Embark_%E2%80%9COYO_CHAIN%E2%80%9D\" >THE GAME CHANGER \u201cThiel Fellowship\u201d And Embark \u201cOYO CHAIN\u201d<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/moneymita.com\/?p=75\/#Walking_and_Reaching_Milestones_By_Ritesh_Agarwal_Towards_Unicorn\" >Walking and Reaching Milestones By Ritesh Agarwal Towards Unicorn<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/moneymita.com\/?p=75\/#Blissful_Unions_A_Journey_Of_Marriage_And_Parenthood_By_Ritesh_Agarwal\" >Blissful Unions: A Journey Of Marriage And Parenthood By Ritesh Agarwal<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/moneymita.com\/?p=75\/#UNTIMELY_FAREWELL_Demise_Of_Ritesh_Agarwals_Father\" >UNTIMELY FAREWELL: Demise Of Ritesh Agarwal\u2019s Father<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/moneymita.com\/?p=75\/#Frequently_Asked_Questions_FAQ\" >Frequently Asked Questions (FAQ)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/moneymita.com\/?p=75\/#Concluding_Note\" >Concluding Note<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"RITESH_AGARWAL_The_OYO_Visionary_Dynamic_Indian_Billionaire\"><\/span>RITESH AGARWAL: The OYO Visionary Dynamic Indian Billionaire<span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Ritesh Agarwal<\/strong>, the visionary entrepreneur behind OYO, has carved a remarkable path in the hospitality industry in PAN India and globally, redefining the way the world experiences accommodation. Ritesh\u2019s journey is nothing short of inspirational. As the founder and CEO of OYO, Ritesh has not only transformed the landscape of budget accommodation but has also become one of India\u2019s youngest and most successful entrepreneurs, leaving an indelible mark&nbsp;on the global business stage.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In this article, I will try to acquaint readers with this young billionaire\u2019s journey&nbsp;(aged 30+ years now), from an ordinary small-town boy to an extraordinary architect who reshaped the unbranded accommodation industry with cutting-edge technology, and thus OYO was born.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Value_Addition_Model_Of_OYO\"><\/span>Value Addition Model Of OYO<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li>The company has developed a two-sided technology platform to address key points between patrons (owners, lessors, and operators in storefronts) on the supply side and customers on the demand side (travellers and guests) who book accommodation at their patron storefronts through a web platform.&nbsp;<\/li>\n\n\n\n<li>The intent is to transform fragmented and unbranded hospitality assets into branded, digitally-enabled hotels &amp; homes.<\/li>\n\n\n\n<li>The web platform includes OYO\u2019s App, web &amp; mobile web platforms, online travel agents, and corporate tie-ups. OYO offers 40+ integrated products and solutions to patrons who operate over 174,000+ hotels and homes across 35+ countries.<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Behind_OYO_Unveiling_The_Parent_Company\"><\/span>Behind OYO: Unveiling The Parent Company<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The Parent Company:&nbsp;<strong>ORAVEL STAYS LIMITED<\/strong>&nbsp;[ earlier Oravel Stays (P) Limited ]<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Date of Incorporation of the Company: February 21, 2012<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Category: A non-government, unlisted company domiciled in India incorporated under the provisions of the Companies Act and limited by shares.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Registered Office: Ahmedabad, Gujrat, India.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Corporate Office: Gurugram, Haryana, India.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Industry:- Hospitality.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The OYO Chain started in 2013.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"website:-http:\/\/www.oyorooms.com\"><strong><em>Website:-<\/em><\/strong><\/a><strong><em><a href=\"https:\/\/www.oyorooms.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.oyorooms.com\/<\/a><\/em><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Members_On_the_Board_of_OYOs_Parent_Company\"><\/span>The Members On the Board of OYO\u2019s Parent Company<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Mr. Ritesh Agarwal, Founder, Chairman and Non-Executive Director<\/li>\n\n\n\n<li>Mr. Aditya Ghosh, Non-Executive Director<\/li>\n\n\n\n<li>Besides, among the four (4) non-executive independent directors, there is one (1) woman director and two (2) key management personnel.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Annual_Report_OYOs_Parent_Company_FY_2022-23_Insights_Unraveling_The_Numbers\"><\/span>Annual Report (OYO\u2019s Parent Company) (FY 2022-23) Insights: Unraveling The Numbers<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The issued, subscribed and paid-up capital of the company stands as of March 31, 2023, at INR&nbsp; 1,33,92,29,327\/- (Indian rupees, One Hundred and Thirty-Three crores, Ninety-Two lakhs, Twenty-Nine Thousand, Three Hundred and Twenty-Seven), comprising of<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">1,32,81,23,967 Equity Shares of INR 1 each,&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">80,160 preference shares of INR 1 each &nbsp; and&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">11,02,520 preference shares of INR 10 each.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company\u2019s consolidated financials show that operations have grown in recent years, as shown below.&nbsp; [Amount in INR (R\/Off) in millions]<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th><em>PARTICULARS<\/em><\/th><th><em>FY 2022 \u2013 2023<\/em><\/th><th><em>FY 2021 \u2013 2022<\/em><\/th><\/tr><\/thead><tbody><tr><td>1. Gross Booking Value [ G.B.V ]<\/td><td>\u20b9 95,591 \/-<\/td><td>\u20b9 81,009 \/-<\/td><\/tr><tr><td>2. Revenue from contracts with customers<\/td><td>\u20b9 54,639 \/-<\/td><td>\u20b9 47,814 \/-<\/td><\/tr><tr><td>3. Net Loss after Tax<\/td><td>\u20b9 (12,865.18)<\/td><td>\u20b9 (19,415.63)<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\">\ud83c\udf10<strong>https:\/\/www.moneymita.com<\/strong><\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"OYO_IPO_Insights_Exciting_Times_Ahead_For_Ritesh_Agarwal\"><\/span>OYO IPO Insights: Exciting Times Ahead For Ritesh Agarwal<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Subject to necessary approvals and consideration, the company is proposing an IPO (initial public offering). In connection with the IPO, the company has filed the&nbsp;Pre-draft Red Herring Prospectus dated March 30, 2023, with the SEBI.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"OYOs_Triumphs_In_Trophies_Awards_Earned_On_Journey_To_Success\"><\/span>OYO\u2019s Triumphs In Trophies: Awards Earned On Journey To Success<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><em><strong>SLN<\/strong><\/em><\/td><td><strong>AWARD NAME<\/strong><\/td><td><strong><em>AWARD BESTOWER<\/em><\/strong><\/td><td><em><strong>AWARDEE<\/strong><\/em><\/td><td><strong><em>AWARD CATEGORY<\/em><\/strong><\/td><\/tr><tr><td>1.<\/td><td>Aegis Graham Bell Awards (AGBA)-13th edition [In February 2023]<\/td><td>Ministry of Electronics and Information Technology, Government of India.<\/td><td>O Y O<\/td><td>The most innovative AI product in Plutus pricing.<\/td><\/tr><tr><td>2.<\/td><td>The Travel and Hospitality Award&nbsp;[In October 2022]<\/td><td>MoEngage Customer Excellence Awards 2022<\/td><td>O Y O<\/td><td>Segmentation, personalization and DPM-based communication<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\">\ud83c\udf10<strong>https:\/\/www.moneymita.com<\/strong><\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Riteshs_Revisit_To_Good_Old_Days_Balancing_Books_And_Business\"><\/span>Ritesh\u2019s Revisit To Good Old Days: Balancing Books And Business<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Ritesh, born on November 16, 1993, was the youngest of four(4) siblings in a Marwari businessman family in Bissam Cuttak town, Rayagada district, Southern Orissa. His father, Ramesh Agarwal, operated a rented store selling packaged products for a living, while his mother, Bela Agarwal, managed the household.<br>Ritesh attended Sacred Heart School in Rayagada, Orissa, where he excelled academically, explored writing, and participated in sports. In grades 4 and 5, he began a small business selling railway tickets online, earning \u20b950\/- to \u20b9100\/-. By grades 7 and 8, he had expanded into selling AIRTEL SIM cards, gaining valuable insights into business fundamentals like revenue, cost, profit, loss, marketing, and distribution. He also learned accountability through managing his failures.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tech_Enthusiast_Riteshs_Love_For_Learning_Technology\"><\/span>Tech Enthusiast Ritesh\u2019s Love For Learning Technology<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Though Ritesh was indecisive about his future occupation, he showed a passion for learning digital technology. At the tender age of ten (10), he started taking lessons in computer programming from an engineer who came to stay in Rayagada with his family. Over the years, he started creating programs on his own. This coding knowledge later helped him build the global brand <strong>\u201cOYO.\u201d<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ritesh_Agarwals_Ticket_To_Kota_For_Engineering\"><\/span>Ritesh Agarwal\u2019s Ticket To Kota For Engineering<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Engineering was the only choice in his house as all his siblings pursued engineering, so post-schooling, he moved to Kota, Rajrajasthan, a place where many opportunities were waiting. During his school days, he was keen to do some business side by side while studying. So at weekends, he used to go to Delhi to do some internships at big companies. He used to design websites for clients, and marketing online events for clients are some areas where he tried his hand.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_TIE_New_Delhi_A_Transformative_Turning_Point_For_Ritesh_Agarwal\"><\/span>The TIE New Delhi: A Transformative Turning Point For Ritesh Agarwal<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>In 2010<\/strong>, he managed to participate in the famous TIE (The IndUS Entrepreneurs) program in New Delhi, and for the first time, he met all the big entrepreneurs, CEOs, and vice presidents of big companies all under one umbrella. Meeting Sanjeev Bikhchandani was a dream come true for him. It helped him later in the process of building entrepreneurship.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>WEBSITE:&nbsp;<a href=\"https:\/\/www.delhi.tie.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/delhi.tie.org\/<\/a><\/em><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_Was_%E2%80%9COravel_Stays_Limited%E2%80%9D_Born_In_The_Hands_Of_Ritesh_Agarwal\"><\/span>How Was \u201cOravel Stays Limited\u201d Born In The Hands Of Ritesh Agarwal?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/Oravel-Stays-Limited-1024x576.png\" alt=\"\" class=\"wp-image-549\" title=\"\" srcset=\"https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/Oravel-Stays-Limited-1024x576.png 1024w, https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/Oravel-Stays-Limited-300x169.png 300w, https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/Oravel-Stays-Limited-768x432.png 768w, https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/Oravel-Stays-Limited-1536x864.png 1536w, https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/Oravel-Stays-Limited.png 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">\ud83c\udf10<strong><em>https:\/\/www.moneymita.com<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Ritesh\u2019s nightmare stay at hotels in India with a limited budget prompted him to feel the inconvenience of travellers. On the contrary, he noticed that many budget-friendly, neat, and clean hotels were not listed online. These two opposite scenarios triggered him to create an online portal for affordable accommodations, and thus ORAVEL STAYS (P) LTD was born in 2011, inspired by &#8220;<strong>The Airbnb Model&#8221;<\/strong> <strong>of the<\/strong> <strong>United States of America.<\/strong> It was later converted to Oravel Stays Limited in 2012.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Funding_Crunch_Challenges_Faced_And_Solutions_Derived_By_Ritesh_Agarwal\"><\/span>Funding Crunch: Challenges Faced And Solutions Derived By Ritesh Agarwal<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Now, to run a portal like this, the basics were <strong>\u201cListing information about hotels and accommodations\u201d<\/strong> and looking for a <strong>Santa Claus<\/strong> to finance his model. He took help from the interns at \u201cINTERNSHALA\u201d to feed information for his portal, and for financing, he approached <strong>Vishal Gondal, an angel investor<\/strong>, for INR thirty lakhs (\u20b930,00,000\/-) instead of a 15% stake in his company. On refusal, he approached a start-up financier in India, <strong>\u201cVenture Nursery,\u201d<\/strong> to finance his brand, \u201cOravel,\u201d and this time Ritesh succeeded.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>In the middle of 2012,<\/strong> Ritesh, along with partner Manish Sinha, launched&nbsp;<strong>&#8220;OYO INNS &amp; SUITS\u201d<\/strong>.&nbsp; At OYO, the company signs contracts with property owners for services like vendor management and technology. The idea was to take old hotels, renovate them, and list them on the Oravel portal to attract bookings. But somehow OYO Inns failed to catch the&nbsp;public eye, and learning from his mistakes led him to start the game-changer \u201cOYO Chain Hospitality\u201d in the next year.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"THE_GAME_CHANGER_%E2%80%9CThiel_Fellowship%E2%80%9D_And_Embark_%E2%80%9COYO_CHAIN%E2%80%9D\"><\/span>THE GAME CHANGER \u201cThiel Fellowship\u201d And Embark \u201cOYO CHAIN\u201d<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/OYO-Game-Changer-1024x576.png\" alt=\"\" class=\"wp-image-552\" title=\"\" srcset=\"https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/OYO-Game-Changer-1024x576.png 1024w, https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/OYO-Game-Changer-300x169.png 300w, https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/OYO-Game-Changer-768x432.png 768w, https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/OYO-Game-Changer-1536x864.png 1536w, https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/OYO-Game-Changer.png 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">\ud83c\udf10<em><strong>https:\/\/www.moneymita.com<\/strong><\/em><\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>On May 10, 2013,<\/strong> Ritesh became the only winner from India out of twenty (20) winners of the prestigious&nbsp;<strong>\u201cThiel Fellowship,\u201d<\/strong>&nbsp;sponsored by Peter Thiel (co-founder of PayPal &amp; Facebook). The fellowship grants $1,00,000\/- to budding entrepreneurs under the age of twenty (20) and to sign a non-revocable contract for two years. Ritesh had no choice but to drop college to make the most of the fellowship, but his parents did not welcome the discontinuance of formal education. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This year, <strong>Ritesh launched the OYO chain<\/strong>. He opened the first OYO with patron Rajesh Yadav in Gurugram, India, and the portal was named <strong>\u201cOyorooms.com.\u201d<\/strong>. The OYO app launched in 2015 works well for price-conscious travellers who search locations out of many choiceable options.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Walking_and_Reaching_Milestones_By_Ritesh_Agarwal_Towards_Unicorn\"><\/span>Walking and Reaching Milestones By Ritesh Agarwal Towards Unicorn<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>2015:<\/strong>&nbsp;Expanded to 100 cities and exceeded 10,000 rooms.&nbsp;&nbsp;At 22 years of age, Ritesh was featured in&nbsp;<strong>FORBES \u201c30 UNDER 30\u201d&nbsp;<\/strong>List for Asia<\/li>\n\n\n\n<li><strong>2016:<\/strong>&nbsp;Expanded to Malaysia, hit the 1 million check-in mark for the first time.<\/li>\n\n\n\n<li><strong>2017:&nbsp;<\/strong>Launched OYO Farmhouse.<\/li>\n\n\n\n<li><strong>2018:<\/strong>&nbsp;Expanded to China, Indonesia, and the United Kingdom; launched the long-stay&nbsp;rental service&nbsp;<strong><em>\u201cOYO LIFE<\/em><\/strong>\u201d launched the customer loyalty program&nbsp;<strong><em>\u201cOYO WIZARD<\/em><\/strong>\u201d.&nbsp;To expand global footprints, venture funding of USD 1 billion came from Japan\u2019s Softbank Visions Fund, Silicon Valley\u2019s Sequoia Capital, and other investors, thereby making OYO an&nbsp;<strong><em>\u201cUNICORN.\u201d<\/em><\/strong><\/li>\n\n\n\n<li><strong>2019:&nbsp;<\/strong>Launched in the USA, Europe, and the Middle East,&nbsp;<strong><em>\u201cOYO LITE\u201d&nbsp;<\/em><\/strong>and<strong><em>&nbsp;\u201cYO! Chat\u201d&nbsp;<\/em><\/strong>for automated customer service.<\/li>\n\n\n\n<li><strong>2020:<\/strong>&nbsp;Launched<strong><em>&nbsp;\u201cDISCOVER OYO,\u201d<\/em><\/strong>&nbsp;a low-cost new user acquisition engine.<\/li>\n\n\n\n<li><strong>2021:<\/strong>The OYO app crossed the 1 billion download mark and launched&nbsp;<strong><em>\u201cOYO 360\u201d,<\/em><\/strong>&nbsp;an&nbsp;onboarding platform for patrons<\/li>\n\n\n\n<li><strong>2023:<\/strong>&nbsp;He became the judge for the show \u201cShark Tank India, Season 3, which was telecasted on Sony LIV. His estimated net worth of INR 15,000 crore at the tender age of 30 makes him a shark\u2014<strong>one of the youngest billionaires in INDIA.<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"has-vivid-cyan-blue-color has-text-color has-link-color wp-elements-331b13a3e167c22cd5874fa673c62afa wp-block-paragraph\"><em>To know about Unicorn, please read our Blog Post &#8220;<strong><a href=\"https:\/\/moneymita.com\/?p=1057\" target=\"_blank\" data-type=\"link\" data-id=\"https:\/\/moneymita.com\/?p=1057\" rel=\"noreferrer noopener\">INDIAN UNICORN STARTUPS 2026<\/a>&#8220;<\/strong>.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Blissful_Unions_A_Journey_Of_Marriage_And_Parenthood_By_Ritesh_Agarwal\"><\/span>Blissful Unions: A Journey Of Marriage And Parenthood By Ritesh Agarwal<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/Ritesh-Geetansha-reception-1024x576.png\" alt=\"\" class=\"wp-image-554\" title=\"\" srcset=\"https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/Ritesh-Geetansha-reception-1024x576.png 1024w, https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/Ritesh-Geetansha-reception-300x169.png 300w, https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/Ritesh-Geetansha-reception-768x432.png 768w, https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/Ritesh-Geetansha-reception-1536x864.png 1536w, https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/Ritesh-Geetansha-reception.png 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">\ud83c\udf10<em><strong>https:\/\/www.moneymita.com<\/strong><\/em><\/figcaption><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>On March 7, 2023, Ritesh tied the knot with his college friend Geetansha Sood, who hails from Lucknow, Uttar Pradesh, and is now a director of the Kanpur-based company Formation Ventures Limited, as reported by DNA newspaper.<\/li>\n\n\n\n<li>On December 7, 2023, son Aryan came into Ritesh and Geet\u2019s lives to start a new era, as announced by Ritesh in his X handle.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"UNTIMELY_FAREWELL_Demise_Of_Ritesh_Agarwals_Father\"><\/span>UNTIMELY FAREWELL: Demise Of Ritesh Agarwal\u2019s Father<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/Ramesh-Agarwal-1024x576.png\" alt=\"\" class=\"wp-image-556\" title=\"\" srcset=\"https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/Ramesh-Agarwal-1024x576.png 1024w, https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/Ramesh-Agarwal-300x169.png 300w, https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/Ramesh-Agarwal-768x432.png 768w, https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/Ramesh-Agarwal-1536x864.png 1536w, https:\/\/moneymita.com\/wp-content\/uploads\/2024\/09\/Ramesh-Agarwal.png 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">\ud83c\udf10<em><strong>https:\/\/www.moneymita.com<\/strong><\/em><\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">On March 10, 2023, three days after his marriage, Ritesh lost his father, Ramesh Agarwal (65 years old), who fell from a high-rise building in Gurugram, Haryana.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_FAQ\"><\/span>Frequently Asked Questions (FAQ)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Q. 1: What is an IPO<\/strong>&nbsp;<strong>in India<\/strong>?<strong><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Ans.&nbsp;<\/strong>IPO stands for&nbsp;<strong><em>\u201cInitial Public Offering.\u201d<\/em><\/strong>. Shares of a company are sold to the public for the first time through the primary capital market to raise capital.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Q. 2: What is TIE in India?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Ans<\/strong>. The Indus Entrepreneurs (TIE) is a non-profit company incorporated to nurture Start-Ups in India by educating, mentoring, networking, providing funding, etc.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Q. 3: What is an Airbnb?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Ans.<\/strong>&nbsp;Airbnb stands for \u201cAirbed and Breakfast,\u201d a service that lets property owners rent out their spaces to travellers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Q. 4: What is a UNICORN?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Ans.<\/strong> A privately owned start-up with a valuation of over USD 1 billion. A term coined by venture capitalist Aileen Lee in the year 2013 to describe rare tech start-ups that were valued at more than USD 1 billion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Q. 5: Who is Sanjeev Bikhchandani?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Ans.<\/strong>&nbsp;He is an Indian billionaire businessman and a <strong>Padma Shri<\/strong> awardee (Year 2020) in the category of trade &amp; industry. He is the founder and executive vice chairman of&nbsp;<strong><em>\u201cInfo&nbsp;<\/em><\/strong><em><strong>Edge<\/strong><\/em>&nbsp;<em><strong>(India) Limited,\u201d<\/strong><\/em>&nbsp;an Indian technology company that owns job portal&nbsp;<strong><em>Naukri.com<\/em><\/strong>, education portal&nbsp;<strong><em>Shiksha.com<\/em><\/strong>, matrimony portal&nbsp;<em><strong>Jeevansathi.com<\/strong><\/em>, and real estate portal&nbsp;<strong><em>99Acres.com<\/em><\/strong>. Famously known as&nbsp;<em><strong>\u201cThe Godfather of the Indian Internet\u201c<\/strong><\/em>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Concluding_Note\"><\/span>Concluding Note<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Ritesh once quoted in his X Handle (Old name &#8220;Twitter&#8221;), <strong>\u201cIt\u2019s better to be a key player in a small but rapidly growing market versus being a small player in a large market.\u201d<\/strong> He truly justifies the line.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>RITESH AGARWAL: The OYO Visionary Dynamic Indian Billionaire Ritesh Agarwal, the visionary entrepreneur behind OYO, has carved a remarkable path [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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