Ritesh Agarwal: How a College Dropout Built OYO into a Global Hospitality Empire

In a country where entrepreneurship often battles tradition, Ritesh Agarwal broke the mould. The young mastermind behind OYO Rooms, a revolutionary hospitality brand, has turned heads across the globe. From being a dropout to becoming one of India’s most influential startup founders, his story is nothing short of cinematic.

This blog unpacks Ritesh Agarwal’s journey from small-town Odisha to global boardrooms.

Humble Beginnings in Odisha

Born on November 16, 1993, in Bissam Cuttack, Odisha, Ritesh was raised in the town of Titilagarh. A tech-savvy teenager, he sold SIM cards and explored the internet to fuel his curiosity. While most students followed academic routes, Ritesh was busy understanding hotel booking platforms.

He briefly enrolled at a college in Delhi but dropped out at age 18 to build his dream—an affordable and reliable network of hotels.

The Birth of OYO Rooms

At just 19, Ritesh launched Oravel Stays, a platform to book budget accommodations. But he soon realized that listing hotels wasn’t enough. What travelers wanted was standardized, affordable, clean, and safe rooms.

Thus, in 2013, OYO Rooms (On Your Own) was born.

💡 Fun Fact: In 2013, he became the first Indian to receive the Thiel Fellowship, a $100,000 grant awarded by PayPal founder Peter Thiel to young visionaries.

Global Expansion and Billion-Dollar Valuation

Under Ritesh’s leadership, OYO grew rapidly:

• Standardized budget rooms in Tier 2 and 3 Indian cities

• Acquired hotel chains and real estate abroad

• Expanded to 35+ countries, with a presence in 185,000+ hotels globally

By 2019, OYO had raised over $1 billion in funding from giants like SoftBank and Lightspeed Ventures. The company was valued at nearly $10 billion, making Ritesh one of India’s youngest billionaires.

Trials, Comebacks, and Profitability

OYO’s fast-paced growth also came with scrutiny—employee layoffs, franchisee complaints, and COVID-19 setbacks. But Ritesh showed resilience.

In FY24, OYO announced its first-ever annual profit and strong EBITDA performance, signaling a remarkable turnaround.

Ritesh on Shark Tank India

In 2024, Ritesh joined the elite panel of investors on Shark Tank India Season 3, becoming an instant favorite. His honest feedback, calm demeanor, and experience in scaling a unicorn made him one of the most sought-after sharks.

Awards and Recognitions

Ritesh Agarwal’s achievements include:

• Thiel Fellow (2013)

• Forbes 30 Under 30 (Asia)

• Bloomberg 50

• Business World Young Entrepreneur Award

• GQ Young Tycoon Award

• Hurun Rich List 2024 – Net worth: ₹1,900 crore

Beyond OYO: Investor & Mentor

Ritesh is not just a founder but also a strategic investor. He has backed multiple startups in:

• Education – Unacademy

• Mobility – Zingbus

• Automotive – Cars24

• Technology & Commerce

He continues to mentor young entrepreneurs and supports India’s growing startup ecosystem.

Key Takeaways from Ritesh’s Journey

 Age is just a number when vision is clear
 Failure is a pitstop, not the destination
 Disruption begins with understanding gaps
 Scaling is possible even from small towns
 Resilience wins over hype

Conclusion

Ritesh Agarwal isn’t just a tech entrepreneur. He’s a storyteller, a risk-taker, and an example for millions of Indian youth who dare to dream. From a college dropout to a global disruptor in hospitality, his story proves that “thinking big” is the first step towards making it big.

With OYO’s return to profitability and a growing media presence, Ritesh Agarwal remains a name to watch in the global startup landscape.