by Major Events Of Ritesh Agarwal’s Life
1993: Ritesh Agarwal was born on November 16, 1993, in Rayagada, Odisha, India.
2005: At the age of 12, Ritesh began coding and designing websites.
2011: Ritesh moved to Delhi to pursue a degree in engineering at the Indian School of Business and Finance.
2012: Ritesh became the first Indian to win the Thiel Fellowship, which is a prestigious two-year program that supports young entrepreneurs. He dropped out of college to pursue his entrepreneurial dream.
2013: Ritesh founded Oravel Stays, which was a budget hotel aggregator. The company was later renamed OYO Rooms.
2014: OYO Rooms raised its first funding round of $650,000 from Lightspeed Venture Partners.
2015: OYO Rooms raised $100 million in a funding round led by SoftBank Group, which valued the company at $400 million.
2016: OYO Rooms expanded internationally and launched in Malaysia.
2017: OYO Rooms raised $250 million in a funding round led by SoftBank Group and became the largest hotel chain in India.
2018: OYO Rooms acquired @Leisure Group, which is a vacation rental company in Europe, and raised $800 million in a funding round led by SoftBank Group.
2019: Ritesh Agarwal bought back $2 billion worth of shares in OYO Rooms from early investors, which increased his stake in the company from 10% to 30%.
2020: OYO Rooms faced financial difficulties due to the COVID-19 pandemic and had to lay off thousands of employees.
2021: OYO Rooms recovered from the pandemic and raised $660 million in a funding round led by SoftBank Group.
Ritesh Agarwal’s entrepreneurial journey is an inspiration to many young entrepreneurs in India and around the world. He has shown that with hard work, determination, and a great idea, it is possible to build a successful startup and make a positive impact in the world. Ritesh Agarwal’s entrepreneurial journey is an inspiration to many young entrepreneurs in India and around the world. Despite facing several challenges, he has continued to build and grow OYO Rooms, which is now valued at more than $10 billion.
