“Ritesh Agarwal: The Self-Made Billionaire Joining Shark Tank India 3”
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The highly anticipated return of Shark Tank India is generating a wave of excitement among viewers as it gears up for its third season. The recent teaser released by the show’s makers has already sparked considerable buzz. What’s particularly intriguing is the addition of Ritesh Agarwal, a 29-year-old self-made billionaire and the founder and CEO of Oyo Rooms, who is set to join the show as one of the sharks.
1. Education
Born in 1993 in Cuttack, Odisha, Ritesh Agarwal embarked on his educational journey in Odisha before making his way to Delhi for higher studies. While enrolled in an engineering college in Delhi, he made the pivotal decision to drop out and chase his entrepreneurial dreams. During his college days, he was selected for the Thiel Fellowship, an initiative by Peter Thiel. Agarwal acknowledges the profound impact of this fellowship, stating, “People often ask me if I missed attending college and receiving a formal education. My answer has always been a resounding YES. The college experience is unmatched – it prepares you for the ‘real world,’ both personally and professionally. But for me, The Thiel fellowship was that big adventure. The learnings, experiences, and the people I met here, all in one way or the other – led to the eventual genesis of OYO.”
2. Previous Experience
Ritesh Agarwal initiated his entrepreneurial journey at the tender age of 13 by selling SIM cards after school hours. Following this early venture, he moved to Delhi to pursue further education after completing his 10th grade at St. John’s Senior Secondary School.
3. The Birth of OYO
During his college years, this young entrepreneur laid the foundation for a small hospitality chain called Oravel Stays, offering services akin to Airbnb. In 2013, after securing the Thiel Fellowship, Agarwal officially launched Oyo Rooms. Today, Oyo has grown into a global hospitality giant, providing accommodations in over 800 cities across 80 countries.
4. Net Worth
Established in 2012, Oyo Rooms, also known as Oyo Hotels & Homes, has experienced phenomenal growth. According to The Economic Times, the company’s total assets were valued at over $1 billion (approximately Rs 8,324 crore) in 2021. A Mint report indicates that Agarwal forecasts FY23 revenue to exceed Rs 5,700 crore, a remarkable 19% increase from FY22’s Rs 4,780 crore. This meteoric rise has catapulted Agarwal into the ranks of the world’s youngest self-made billionaires, with a net worth of $2 billion (approximately Rs 16,462 crore), as reported by DNA.
5. Views on Joining Shark Tank India
Expressing his enthusiasm about joining Shark Tank India Season 3, Agarwal took to social media, saying, “When I began my entrepreneurial journey, resources were hard to come by. However, the generosity and kindness of the ecosystem (mentors, VCs, other founders) that took me in made the journey a bit easier and more fulfilling. To be able to replicate this has been a long-standing goal of mine. Whenever the opportunity presented itself, it made me extremely happy to connect with, mentor and back entrepreneurs at every stage of their own personal journeys.” He continued, “Shark Tank India made entrepreneurship a household conversation, and I am excited to be a small part of Season 3 and support more entrepreneurs emerging out of every corner of India.”
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Genz Flash journalist was involved in the writing and production of this article.