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Ritesh Agarwal, the youngest self-made billionaire
Hurun Rich List 2020
Ritesh's net worth in 2020 was estimated to be approximately $1.1 billion (INR 7253 crore) according to Hurun Rich List 2020. He is currently the youngest self-made billionaire in the world.
The huge expansion of Oyo
With the backing of Greenoaks, Sequoia India, Lightspeed India, Hero enterprise and China Lodging Group like solid group of investors, Oyo is not far from becoming a global success story, perhaps to some extent it has. Today it has more than 330,000 rooms in 500 cities globally.
Conquering the Asian Territory and Stepping into the International Markets
The year 2018, that marked the establishment of the Oyo empire in Asia-Pacific and kick-started international proliferation by establishing operations in UK, UAE, Dubai, China, Singapore and Indonesia. It also became a unicorn in September when it raised funding of $800 million from SoftBank and already had raised $200 million from its existing investors.
Launched business outside India
Continuing its expansion aspiration, Oyo launched a business in Nepal. Nepal and Malaysia was just a hint of the monstrous development that was to follow.
Oyo hit the 1 million check-ins mark
In January, first month of the year 2016, the hotel chain hit the 1 million check-ins mark and also made an advent outside India into the Asia Pacific market, beginning with Malaysia.
Oyo got the most prominent and powerful investors in the world
Oyo bagged $100 million in Series C Round of funding from Japanese investor SoftBank. This year proved to be a financially fulfilling year. Oyo now had the backing of one of the most prominent and powerful investors in the world.
Rapid growth of Oyo
Oyo app was launched. The mobile app was a catalyst in writing the success story of this hotel chain start-up that was to follow. Oyo, by now had expanded to Kolkata, Mumbai, Goa, Bangalore and was spreading at a massive pace. It has almost come up to 2000 hotels, 20,000 rooms and 100 cities in India.
Indian investors started investing in Oyo
Lightspeed India, Seqoiua and other Indian Investors
Oyo received funding of a whopping amount of $25 million from its investors namely Lightspeed India, Seqoiua and others.
Oyo received the first funding
Thiel Fellowship Program
Oyo received its first Series A funding from the Thiel Fellowship Program.
Got selected for the Theil Fellowship program
Agarwal was also selected for Thiel Fellowship, a 2-year-old program started by the founder of Paypal which gave him funding of $100,000 to pursue and make real the idea of his start-up. Thus, Oyo was launched in Gurgaon.
Oravel was established
Ritesh, an 18-year-old college dropout, seemed to harbour dreams of entrepreneurship which compelled him to take the plunge with his first start-up Oravel. Oravel enabled listing and budget accommodation of hotel rooms and it, later on, got converted to become Oyo rooms.
St. Johns Senior Secondary School
Ritesh graduated from St. Johns Senior Secondary School.