Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li><keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword>, founder and CEO of OYO, has had quite a journey over the years. </li><li>He had founded the company when he wasn’t even 20. </li><li>Today, OYO is racing with speed to be one of the world’s biggest hotel chains.</li></ul>While he has not even attained 25 years of age, Ritesh Agarwal, the CEO of OYO has seen it all – popularity, business success and financial prosperity. He has made something unique at a time when others had not even thought of it – a hotel booking software that would assure room for anyone at their favorite hotel at competitive prices. Ritesh says, his success was not an easy one. Here are some interesting facts about Ritesh Agarwal that will inspire any reader. Ritesh Agarwal was not confident about his studies Ritesh doubted his own abilities to do well in college or working for someone. Hence he jumped into something like building OYO. He says, “I knew if I had gone to college, I would not have done well. And then my family would hate me. So I felt if my family was to hate me anyway, I would rather do what I feel very excited about!” He failed six times before succeeding Ritesh had once commented that he failed six times before he succeeded in his OYO venture. Ritesh says, “If you have not failed, you have not hardened yourself.” Hails from a simple family Ritesh hails from a family running a small local shop in Southern Orissa. If he had not chosen to take a different course for his life, he would have ended up overseeing the shop. Ritesh wanted to do something exciting. Every entrepreneur has a story behind him. He started working with SMEs and tried to bring them sales. It was only in his second venture, he started with making success that too slowly. Initially the VCs thought he was talking about real estate business Ritesh’s task of convincing the VCs to fund his venture was not an easy one. When he attempted to find a solution to the hotel booking process, something like OYO had not been built earlier. The investors asked if there was anything similar to what he was trying to build. While they all interpreted his venture as a real estate business, only two months later they all started when competition started building up. OYO had to climb a steep uphill The forward march of OYO into success was not easy as it sounds. Managing the component of predictability was a mammoth task for them. This challenge still continues. After they had standardized 45,000 rooms spread across 160 cities, managing the same set of facilities again and again, dealing with the issues that crop up, maintaining the 4* ratings on TripAdvisor and satisfying the customers on maximum deals were a tough job which they could manage efficiently with a lot of efforts. OYO has a favorable business scene in the international market Ritesh says OYO does not have an international competitor who will breathe down its way. So when it comes to discounting and cash burning, OYO possibly has the least amount of burning and so faces a favorable economics on its journey forward. See Also: <a href="https://www.businessinsider.in/unknown-facts-about-flipkart-founder-sachin-bansal/articleshow/70494717.cms">Flipkart founder Sachin Bansal</a> <a href="https://www.businessinsider.in/paytm-founder-vijay-shekhar-sharma-unknown-facts/articleshow/69941150.cms">Paytm Founder Vijay Shakhar Sharma</a> <a href="https://www.businessinsider.in/10-interesting-facts-about-gautam-adani-that-you-should-know/articleshow/69900616.cms">Interesting facts about Gautam Adani</a>

Ritesh Agarwal: Interesting facts about oyo founder ritesh agarwal

<keyword id="340376" type="General" weightage="20" keywordseo="ramesh-agarwal" source="Orion">Ramesh Agarwal</keyword>, the father of Ritesh Agarwal, Founder and Group CEO, OYO, has died after falling from the 20th floor of a high-rise located on the Golf Course Road in Gurugram. According to the police, whetehr he committed suicide or fell from the 20th floor accidentally will be known after a detailed investigation. Ritesh Agarwal said in a statement, "With a heavy heart, my family and I would like to share that our guiding light and strength, my father, Shri Ramesh Agarwal, passed away on March 10. He lived a full life and inspired me and so many of us, every single day. "His death is a tremendous loss for our family. My father's compassion and warmth saw us through our toughest times and carried us forward. His words will resonate deep in our hearts. We request everyone to respect our privacy in this time of grief." Further details are awaited.

OYO founder Ritesh Agarwal's father falls to death from Gurugram high-rise

<ul><li><keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword> through his Cayman-registered company RA Hospitality Holdings, has invested $2 billion into <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword>. </li><li>OYO’s early investors <keyword id="455799" type="COMPANY" weightage="20" keywordseo="Lightspeed-Venture-Partners">Lightspeed Venture Partners</keyword>, and <keyword id="563136" type="ORGANIZATION" weightage="20" keywordseo="Sequoia-India">Sequoia India</keyword> are selling part of their stake in the company to increase Agarwal’s stake. </li><li>The company also claims that its revenue grew 4.4 times in June 2019 as compared to June 2018.</li></ul>In a first for the Indian startup community, OYO founder Ritesh Agarwal invested $2 billion into his own company. Agarwal made the investment through a Cayman-registered company, RA Hospitality Holdings. OYO’s early investors Lightspeed Venture Partners, and Sequoia India are selling a part of their stake in the company back to him. “It is a very exciting time for OYO right now as we make great living spaces come alive across all corners of the world from Texas to Tokyo. The deal remains subject to shareholder and regulatory approvals,” said Ritesh Agarwal, Founder &amp; CEO (Group), OYO Hotels &amp; Homes. Agarwal reportedly wants to raise his stake in the firm to over 30%. Currently, Agarwal holds 9.43% in the hospitality startup, while SoftBank, the Japanese investment firm, controls 45.69% of the company. Early investor Lightspeed has 13.4% stake, while Sequoia Capital has 10.24%. According to information sourced by paper.vc, Article 21.6 of Oyo’s Articles of Association prohibit Softbank from directly or indirectly, acquiring more than 49.99% of the fully diluted share capital of the company, without the consent of Aggarwal, Greenoaks, Lightspeed and Sequoia Capital. SoftBank has been an investor in OYO for a long time now. It was Softbank's investment that led OYO into the Indian unicorn club with a $5 billion valuation in September 2018, a huge jump from the $900 million valuation it had until then. The company also claims that its revenues grew 4.4 times in June 2019 as compared to June 2018). It has a million rooms, out of which over 200,000 are in India. OYO now has 20,000 buildings with its signature red and white logo branding on it. The Indian hospitality unicorn has been spreading its business far and wide. It recently became China’s largest hotel chain. OYO said that it will invest $300 million to expand its footprint in the United States – into cities like New York, Los Angeles and San Francisco. It already has 50 hotels across 15 states in the US. It also launched services in Vietnam.

OYO’s Ritesh Agarwal sets a new benchmark – invests $2 billion into his own company to increase his stake

<ul><li>Rating agency Moody downgraded its outlook from stable to negative.</li><li>OYO founder Ritesh Agarwal was recently booked in a cheating case by a hotel owner in Bengaluru.</li><li><keyword id="2404631" type="PERSON" weightage="20" keywordseo="Motu-Patlu">Motu Patlu</keyword>’s creators eye the big fat Chinese cartoon market with 5 new shows 
</li></ul>This week, rating agency Moody’s changed its outlook on India from stable to negative. Motu Patlu’s creator told Business Insider that they are going to launch five new shows in China. OYO founder Ritesh Agarwal was recently booked in a cheating case by a hotel owner in Bengaluru. The stalemate over <keyword id="13126" type="LOCATION" weightage="20" keywordseo="Maharashtra">Maharashtra</keyword> state government continues. Senior <keyword id="6358821" type="ORGANIZATION" weightage="20" keywordseo="shiv-sena">Shiv Sena</keyword> leader Sanjay Raut met NCP chief Sharad Pawar in Mumbai on Wednesday. <div type="Slideshow" msid="71972407" hostid="261" title="Here’s a rundown of what all happened this week" firstImageMsid="71972408" slideCount="4"></div>

Here’s a rundown of what all happened this week

<keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">Oyo</keyword> Oyo CEO <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword>. <ul class="summary-list"><li>Indian hotel platform Oyo has confirmed that CEO and founder Ritesh Agarwal will raise his stake in his company as part of a $1.5 billion financing round. </li><li>Agarwal is to acquire shares from Oyo's existing investors Lightspeed and Sequoia to increase his stake.</li><li>The deal will see Agarwal inject $700 million in fresh capital into his company, with a further $800 million coming from existing backers. In total, Oyo will raise $1.5 billion in fresh capital.</li><li>The deal comes as Oyo faces intensifying media scrutiny over its budget hotel platform, and after the canned IPO of another SoftBank-backed property firm, WeWork.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul>Ritesh Agarwal, chief executive and cofounder of budget hotel platform Oyo, is to raise his stake in the SoftBank-backed firm in a $2 billion <keyword id="6357455" type="UNKNOWN" weightage="20" keywordseo="Funding">funding</keyword> deal. The financing, announced on Monday, is an unusual move for a founder, and see the 25-year-old executive boosting his stake by buying shares from Oyo's existing backers Sequoia and Lightspeed. The two investors will remain shareholders and committed to the company. A spokesperson told Business Insider that Agarwal is financing the deal via support from "global institutionalized banks and his financial partners," without giving specific details. Along with the buyback, Agarwal and Oyo's backers will inject $1.5 billion of fresh capital into the business, with $700 million of that coming from Agarwal. The new funding values the firm at $10 billion. Read more: <a href="https://www.businessinsider.com/wework-uber-oyo-what-like-living-on-softbank-companies-2019-7?r=US&amp;IR=T">I spent 24 hours living on SoftBank services like Uber, WeWork, and Oyo. It revealed some flaws in Masayoshi Son's grand $100 billion investment vision.</a> Oyo is a fast-growing platform for budget hotels and operates on a franchise basis. The company turns failing local hotels into Oyo franchises, provides some capital to redecorate and ensure there's functioning WiFi, then sells those rooms through its booking platform. The promise to hotel owners is a boost in occupancy rates and revenue. The company has expanded to more than 80 countries, including China. It has more than 500,000 rooms on its platform, and says it's seen a 3.8 times increase in revenue growth year-on-year. It employs some 20,000 staff. The firm has raised more than $2 billion in total, giving it a massive war chest to fund its expansion. It has also attracted growing scrutiny from critics <a href="https://www.reuters.com/article/us-india-oyo-focus/as-softbanks-oyo-booms-some-indian-hotels-cry-foul-and-check-out-idUSKBN1WM075">and the press</a>, partly thanks to its apparent similarity to another <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword> backed property business, WeWork. Scott Galloway, an NYU professor who has been heavily critical of WeWork, compared the two. "Just like WeWork, OYO is a REIT [real estate investment trust] with too much SoftBank capital," <a href="https://www.profgalloway.com/mdma">he wrote last week</a>. WeWork's CEO Adam Neumann announced <a href="https://www.businessinsider.com/wework-co-founder-adam-neumann-is-stepping-down-as-ceo-2019-9?r=US&amp;IR=T">at the end of September that he would step down</a> and the firm was forced to delay its IPO after an onslaught of negative press about the business model behind its core office sharing offering, its valuation, and unconventional company culture. Oyo's business has ballooned beyond budget hotel rooms <a href="https://www.oyorooms.com/officialoyoblog/2019/07/16/introducing-oyo-workspaces-a-better-way-to-work-for-everyone-in-india">to office-sharing</a>, student accommodation, high-end Airbnb-style "homes," upmarket business hotels, and <a href="https://www.oyorooms.com/officialoyoblog/2019/08/29/weddingz-in-launches-the-wedding-trunk-a-bi-annual-magazine-to-serve-as-the-perfect-wedding-guide">even magazine publishing</a>. <h3>NOW WATCH: <a href="https://www.businessinsider.com/how-to-use-ps4-xbox-controllers-iphone-ios13-2019-9">How to use PS4 And Xbox controllers with the iPhone</a></h3> <pre style="display: none;">function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</pre>

You Searched For "Ritesh Agarwal" and got 5 results

Ritesh Agarwal: Interesting facts about oyo founder ritesh agarwal

BI India Bureau

OYO founder Ritesh Agarwal's father falls to death from Gurugram high-rise

IANS

OYO’s Ritesh Agarwal sets a new benchmark – invests $2 billion into his own company to increase his stake

Sanchita Dash

Here’s a rundown of what all happened this week

BI India Bureau

Oyo to raise $1.5 billion of which $700 million will come from its founder Ritesh Agarwal

Shona Ghosh

Popular Keywords

Buying Guides