After two successful seasons, Shark Tank India is back with another and the fans can’t keep calm. With the entrepreneurial fever going on in the country, this show sure added fuel to the fire. We came to know about so many unique products and innovative ideas from the outstanding pitches on the show.
During this season, we will have a new Shark joining the judges’ panel, Ritesh Agarwal, who will be the youngest Shark on board. In this article, we will discuss about Ritesh Agarwal net worth, lifestyle, and investments.
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Who is Ritesh Agarwal?
It is nearly impossible that at this point you do not know about OYO Rooms. It is an Indian multinational chain of leased hotels and living spaces. Ritesh Agarwal is one of the youngest self-made billionaires in India. He was born in a Marwari family in 1993 in Cuttack. Ritesh did his schooling at St. Johns Senior Secondary School and the entrepreneurial spirit sparked within him in his early school days.
He started selling SIM cards after school hours when he was at the age of 13. After getting done with school, he moved to Delhi to pursue his bachelor’s degree from the Indian School of Business and Finance. Ritesh even got himself enrolled in the University of London’s International Programme provided by his Institute but dropped out to pursue his dreams.
He got nominated for the Thiel Fellowship programme offered by Peter Thiel, founder of PayPal back in 2013. Although he didn’t continue with college, he is very grateful for this fellowship programme and says it shaped him for the better. In fact, he even got paid $10000 during that time and made history by being the first Asian to get the fellowship.
How did Ritesh come up with the idea of OYO rooms?
If you win the Thiel fellowship grant of $10000 then you have to immediately jump into the entrepreneurial world and establish a start-up within 2 years. Ritesh came up with the business idea of OYO rooms back in his college days when it was called Oravel Stays.
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The interesting business model of Airbnb is what inspired his own business model. The main motive behind this idea was to provide budget accommodation to the public. Oravel Stays which was later renamed to OYO, which stands for On Your Own, did undoubtedly change the hospitality sector of India. This hotel chain has witnessed immense growth over the years and is even infamous for many things.
Ritesh Agarwal investments
Reportedly, Ritesh Agarwal has made investments in various organizations like The Forest Collective, Unacademy, Siachen Naturals, Hood, etc. OYO announced two joint ventures with Yahoo! Japan and Softbank in 2019. In 2019, the organization also partnered with Airbnb where OYO properties would be listed on Airbnb’s platform.
Ritesh Agarwal net worth
Ritesh Agarwal was named as the second youngest self-made billionaire in the World. Currently Ritesh Agarwal net worth stands at USD 2 billion (Ritesh Agarwal net worth in rupees approx Rs 16,000 crore).
Appearance in Shark Tank Season 3
Ritesh Agarwal is joining as a Shark on Shark Tank India Season 3. So, this season the judges’ panel will include Aman Gupta – CMO of boAt, Namita Thapar – CEO of Emcure Pharmaceuticals, Amit Jain CEO of CarDekho Group, Anupam Mittal – Founder of Shaadi.com, Vineeta Singh CEO of SUGAR Cosmetics, Peyush Bansal Founder Lenskart.com and new judges are Deepinder Goyal – Founder of Zomato and Ritesh Agarwal – Founder and CEO of OYO Rooms.
What are your expectations from Shark Tank Season 3? Let us know in the comments below.
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