Ritesh Agarwal is popularly known as a young Indian entrepreneur who is best known for founding OYO Rooms, one of the fastest-growing hotel chains in the world. Agarwal was born on 16 November 1993 and in this post, we will take a look at who his parents are. Keep reading for more.
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Ritesh Agarwal Biography
Ritesh Agarwal, the founder of OYO Rooms, was born on November 16, 1993, in Rayagada, India. He showed an interest in technology and entrepreneurship from a young age, having started coding at 8 and building his first website at 13.
After completing his schooling at St. Johns Senior Secondary School in Rayagada, he moved to Delhi to study finance and entrepreneurship at the Indian School of Business and Finance. However, he dropped out in his second year to pursue his entrepreneurial dreams.
In 2013, at just 19 years old, Agarwal founded OYO Rooms with a single hotel room in Gurgaon, India, providing budget accommodation to people looking for a comfortable stay at affordable prices. OYO Rooms grew quickly, expanding to over 200,000 rooms in more than 5,000 hotels across India by 2016. That year, the company secured $100 million in funding from investors such as SoftBank and Sequoia Capital, which helped it to expand further into international markets.
Today, OYO Rooms is one of the world’s largest hotel chains, with more than 1.5 million rooms in over 80 countries and a valuation of over $10 billion. Agarwal remains an active CEO and has overseen the company’s expansion into new markets such as China, the United States, and Europe. The company has also diversified into other segments, including OYO Homes, OYO Townhouse, and OYO Workspaces.
Agarwal’s entrepreneurial journey has been recognized by various organizations, including Forbes’ 30 Under 30 list for Asia in 2018, the Business World Young Entrepreneur of the Year award in 2019, and being named on the Fortune 40 Under 40 list and Time 100 Next list.
Who Are Ritesh Agarwal’s Parents?
Ritesh Agarwal was born into a Marwari family on November 16, 1993, in Rayagada, India. His father works at Infrastructure Corporation and his mother is a homemaker. The names of Ritesh Agarwal’s parents are currently not made public. However, his success today is attributed to the support he received from his family.