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Founder <keyword id="20198157" type="General" weightage="20" keywordseo="Ritesh-Agarwal" source="keywords">Ritesh Agarwal</keyword> has invested Rs 830 crore through his Singapore-based entity Patient Capital in <keyword id="19901637" type="General" weightage="20" keywordseo="OYO" source="keywords">OYO</keyword>'s latest <keyword id="20080855" type="General" weightage="20" keywordseo="funding-round" source="keywords">funding round</keyword> -- wherein the <keyword id="21745043" type="General" weightage="20" keywordseo="travel-tech-platform" source="keywords">travel tech platform</keyword> raised Rs 1,457 crore, sources said. Post the equity dilution in the <keyword id="22756111" type="General" weightage="20" keywordseo="Series-G-funding" source="keywords">Series G funding</keyword>, Agarwal's holdings will increase from 29.97 per cent earlier, to 32.57 per cent post the investment, sources told PTI. According to sources close to the transaction, "Ritesh has invested to protect his ownership dilution in OYO as well as a signal of confidence in the company's prospects. The investment is backed by Singapore-based family offices." <keyword id="20517346" type="General" weightage="20" keywordseo="Oravel-Stays-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Oravel Stays Ltd" meta.hostid="261" meta.entityid="Oravel Stays Ltd">Oravel Stays Ltd</keyword>, the parent company of OYO, has raised Rs 1,457 crore from a consortium of investors in the latest funding round. The additional equity issuance was approved by 99.99 per cent shareholders in an Extraordinary General Meeting (EGM) held on August 8. The additional fundraise values the company at USD 2.4 billion, as the first Series G tranche issued to InCred in July. The investment is being made through Compulsory Convertible Cumulative Preference Shares, each priced at Rs 29, consistent with the valuation of the recent raise in Series G. The capital will be used to support OYO's growth and its global expansion plans, sources said.

Founder Ritesh Agarwal invests Rs 830 crore in OYO's latest funding round; Platform raises Rs 1,457 crore

Online learning platform <keyword id="6630114" type="UNKNOWN" weightage="20" keywordseo="unacademy">Unacademy</keyword> is now valued at $3.44 billion after the latest round of fundraising, where it got investments to the tune of $440 million. Over the last 18 months, the valuation of the <keyword id="9578177" type="UNKNOWN" weightage="20" keywordseo="unacademy-group">Unacademy Group</keyword> has risen almost 10 times, the company reportedly said in a statement. This was the Series H round of funding for Unacademy where Aroa Ventures, the family office of hotel chain <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword>’s Founder Ritesh Agarwal, and Deepinder Goyal, Co-Founder and CEO at Zomato, participated. Some angel investors of Unacademy have exited in this round. Aside from these, existing investors like General Atlantic, Tiger Global and <keyword id="3749718" type="PERSON" weightage="20" keywordseo="softbank-vision-fund">Softbank Vision Fund</keyword> put in more money.This is the second investment by Tiger Global, and General Atlantic who increased their stake in Unacademy in January this year. The different shades of India’s booming edtech The six-year old startup founded by Gaurav Munjal, Hemesh Singh and Roman Saini, Unacademy has a growing network of more than 50,000 registered educators and over 62 million learners, in 14 Indian languages across 5,000 cities. Unacademy is known for its offerings that help students prepare for competitive exams and it has been one of the biggest beneficiaries of the shift to online learning. Unacademy differentiates itself from Byju’s, which relies on pre-recorded content, and Vedantu that is known for its live-tutoring. India’s edtech industry, which had an annual revenue pool of $700 million at the end of March 2020, saw its business double in the following year due to the pandemic, according to data from Goldman Sachs. The global investment bank expects the entire edtech space to be worth $30 billion dollars by March 2024 as Indians spend the most on education, as a proportion of household consumption, after China. Unacademy has been acquiring other startups amidst an edtech boom Late last month, Unacademy announced that it has acquired game streaming platform <keyword id="11725251" type="UNKNOWN" weightage="20" keywordseo="Rheo-TV">Rheo TV</keyword>. Rheo TV is a platform that helps professional game streamers livestream their gameplays and monetise those feeds. In February, Unacademy acquired TapChief, a professional networking and "future-of-work" platform, at a valuation of ₹100 crore. SEE ALSO: <a href="https://www.businessinsider.in/business/news/byjus-last-two-acquisitions-and-a-deal-with-disney-reveal-its-american-dream/articleshow/84783749.cms">Byju's last two acquisitions and a deal with Disney reveal its American dream ⁠— one that is anchored in India</a> <a href="https://www.businessinsider.in/personal-finance/news/six-red-flags-for-investors-to-avoid-becoming-a-victim-of-misselling-by-agents-or-financial-advisors/slidelist/84782913.cms">Six red flags for investors to avoid becoming a victim of misselling by agents or financial advisors</a>

The founders of OYO and Zomato pump in money to make edtech startup Unacademy worth $3.4 billion ⁠— a ten fold jump in 18 months

<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="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>

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

Business Insider is proud to announce that Ritesh Agarwal, founder and CEO of SoftBank-backed hotel chain <keyword id="2808667" type="PERSON" weightage="60" keywordseo="OYO">Oyo</keyword>, will speak at the inaugural <a href="https://trendsfestival.com/?utm_source=tf_usa&amp;utm_medium=referral&amp;utm_campaign=ticketn=ticket">BI Global Trends Festival</a>, a virtual event taking place the week of October 19-23, 2020.Agarwal, who founded Oyo when he was 18, predicts rapid changes in people's travel habits resulting from the coronavirus pandemic."The hospitality industry will never be the same again, that is absolutely clear," Agarwal <a href="https://www.businessinsider.com/small-the-new-big-for-hotels-post-pandemic-says-oyo-ceo-2020-9?r=US&amp;IR=TIR=T">told Reuters</a>. "Small hotels are going to be in vogue. In my view, small is going to be the new big, wherein people will rethink a lot about going back to that 1,000-room hotel versus going to a 40-room niche hotel."Oyo allows guests to book rooms on its mobile app. Promising more revenue to hotel owners, the company transforms local hotels into Oyo franchises and takes a cut on every booking.As a college student, <a href="https://www.businessinsider.com/indian-budget-hotel-startup-oyo-expands-to-the-uk-2018-9?r=US&amp;IR=TIR=T">Agarwal won $100,000 from the Thiel Fellowship</a>, a grant for young entrepreneurs. Oyo has since raised more than $3 billion in capital, including $700 million from Agarwal himself as <a href="https://www.businessinsider.com/oyo-raises-15-billion-from-ceo-and-other-backers-at-10-billion-valuation-2019-10">part of a deal that raised Oyo's valuation</a> to $10 billion. SoftBank has been funding the company since 2015.Hear Agarwal discuss the future of travel at the <keyword id="9732021" type="UNKNOWN" weightage="100" keywordseo="business-insider-global-trends-festival">Business Insider Global Trends Festival</keyword>. Get your tickets today.<h2><a href="https://trendsfestival.com/en/tickets-for-trends-festival.html?utm_source=tf_usa&amp;utm_medium=referral&amp;utm_campaign=ticketn=ticket">Buy tickets &gt;&gt;</a></h2>

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Founder Ritesh Agarwal invests Rs 830 crore in OYO's latest funding round; Platform raises Rs 1,457 crore

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The founders of OYO and Zomato pump in money to make edtech startup Unacademy worth $3.4 billion ⁠— a ten fold jump in 18 months

BI India Bureau

Ritesh Agarwal: Interesting facts about oyo founder ritesh agarwal

BI India Bureau

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

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Oyo CEO Ritesh Agarwal to speak at the Business Insider Global Trends Festival 2020

Business Insider

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