Tag: ritesh agarwal

Shark Tank India Judges Net Worth | Who Are the Richest Sharks on Shark Tank India?
Shark Tank India created quite a stir with its four seasons in the country and amongst its people. People love the angst, new ideas of young entrepreneurs, and all the great advice provided by the ‘Sharks’.

The first season premiered on Sony LIV and Sony Entertainment Television from 20 December 2021 to 4 February 2022. The show was produced by Studio NEXT Sony Pictures Television. Apart from the splendid business models and innovative ideas, the main attraction of the show was the ‘Sharks’. With great popularity and success, it has had 4 successful seasons. After a long wait, Shark Tank India Season 5 has been confirmed to return in Sony LIV’s 2025 schedule, bringing investors and start-up founders together once more.

The ‘Sharks’ here are some of the country’s most influential and prominent entrepreneurs and are the ones who have taken charge of investing in the businesses. If the investors are impressed by the products and services, they naturally become a part of their business by investing in them. The show itself is possible because of the investors; they are the one who provides the funds that will take the business of the young entrepreneurs forward.

Now, don’t you want to know about the richest shark on Shark Tank India and the sharks providing a ladder to reach the top to all the young entrepreneurs who dreamt of conquering the business world with their exceptional ideas? Well, here we will talk about the ‘Sharks’, their net worth, and the ones who have supported the exceptional business models of young entrepreneurs on the show. So, without any further ado, let’s get started.

Shark Tank India Judges Net Worth
Ritesh Agarwal

Name Ritesh Agarwal

Company OYO Rooms

Net Worth Rs 14,400 crore

Ritesh Agarwal – Shark Tank India Judges

Ritesh Agarwal is the founder and CEO of OYO Rooms. He was the newly added Shark for season 3 of Shark Tank India. He dropped out of college after a few days to pursue his entrepreneurial dreams. His net worth is Rs 14,400 crore as per Hurun Rich List 2024, making him one of the richest sharks in Shark Tank India Season 4.

OYO Rooms, a worldwide hospitality marketplace established in 2012, assists travellers in locating inexpensive accommodations all around the world. This business advertises its leased and franchised hotels on its website so that customers may choose the rooms and living areas they want at a price they can afford.

Ritesh Agarwal’s Journey from Oravel to OYO

Discover the inspiring story of Ritesh Agarwal, founder of OYO, from humble beginnings to global success. Explore the journey of innovation and determination that shaped his remarkable story.

StartupTalkyshifa ali

Ronnie Screwvala

Name Ronnie Screwvala

Company UpGrad

Net Worth $1.55 billion (Rs 13,000 crore)

Ronnie Screwvala – Shark Tank India Judges

Ronnie Screwvala is an Indian entrepreneur and Chairperson and Co-Founder of upGrad, an online higher education platform that provides various courses in partnership with universities and industry experts. The valuation of upGrad is $2.25 billion. Ronnie Screwvala is a prominent figure in the Indian business and entertainment industry and has made significant contributions in the fields of media, entertainment, and education. He was a new addition to Shark Tank India’s third season.

He co-founded UTV Software Communications (now part of The Walt Disney Company) in 1990. UTV became one of India’s leading media and entertainment conglomerates. He then founded RSVP Movies in 2017. The company is a private Indian film production and distribution company. RSVP stands for Ronnie ScrewVala Production. Screwvala is also the founder of Unilazer Ventures and Swades Foundation. He took a step back from filmmaking after selling his company in 2012. The net worth of Ronnie Screwvala is $1.55 billion.

List of 118 Unicorn Startups in India | Top Unicorns in India

India has already seen 118 unicorn startups. Here’s an exhaustive list of all unicorn companies in India, including those that joined the unicorn club in 2025.

StartupTalkyAnik Banerjee

Amit Jain

Name Amit Jain

Company CarDekho

Net Worth $355 million (Rs 3,017 crore)

Amit Jain – Shark Tank India Judges

Amit Jain is the co-founder and CEO of CarDekho. He replaced Ashneer Grover in the second season of Shark Tank India. Mr. Jain, an IIT graduate, is one of the most successful entrepreneurs in India. The net worth of the shark Amit Jain is $355 million (approx).

Cardekho.com – a car buying and selling platform, was launched in 2008. It went through many ups and downs until a Series-A funding of $15 Million was secured in 2013. Now Cardekho is a unicorn with a valuation of over $1.2 billion. Amit Jain reportedly charges INR 7 lakh per episode.

Deepinder Goyal

Name Deepinder Goyal

Company Zomato

Net Worth $1.8 billion (Rs 15,274 crore)

Deepinder Goyal – Shark Tank India Judges

Deepinder Goyal is the co-founder and CEO of Zomato. He was the newly added Shark for season 3 of Shark Tank India. Mr. Goyal has graduated from IIT Delhi. His company, Zomato, is a publicly listed company on the National Stock Exchange of India. Zomato’s subsidiaries are Blinkit and Urbanspoon. As of December 2024, Zomato has a Market Cap of $32.71 billion. The current net worth of Deepinder Goyal stands at $1.8 billion. He was one of the richest sharks in Shark Tank India season 3.

One of the most extensive and user-friendly apps for locating nearby eateries where you can eat or place an online food order is Zomato. In order to gather factual information on restaurants, it also provides menus, reviews, and ratings. The company became a unicorn in February 2018.

Deepinder Goyal is not part of Shark Tank India season 4. While rumours suggested his exit was due to Swiggy’s sponsorship, the show’s makers clarified that his absence was due to scheduling conflicts, and they would be happy to have him on future seasons.

Deepinder Goyal Success Story: Biography | Zomato | Net Worth

Deepinder Goyal is the Co-founder and CEO of Zomato. Know more about his education, his net worth, his idea of founding Zomato, and his Success Story. Know more on Deepinder Goyal Wikipedia.

StartupTalkyRishabh Rathi

Ashneer Grover

Name Ashneer Grover

Company BharatPe

Net Worth $108 million (Rs 900 crore)

Ashneer Grover – Shark Tank India Judges

Ashneer Grover was the managing director and founder of BharatPe, an Indian fintech company that was founded in 2018. This UPI-based app became a Unicorn in the year 2021 and currently, the value of the company is around $2.9 billion. The net worth of Ashneer Grover is $108 million.

BharatPe is an acquaintance of small-scale businesses and provides them with their payment service. Grover’s BharatPe gives intense competition to other online payment apps like Mobikwik, Paytm, and PhonePe. Ashneer Grover got INR 10 lakh per episode. However, he discontinued as a shark after season one.

Apart from BharatPe, he has also invested in companies like OTO Capital, The Whole Truth, IndiaGold, and Front Row. He has invested in various startups on the show, like TagZ Foods, Zoro, Fello, etc. Ashneer Grover announced his resignation from the BharatPe on 28 February 2022. He is currently the co-founder of Third Unicorn, Crickpe. The company provides a cricket fantasy gaming platform. The company allows players to participate in public, private, and “mega contests” to earn cash prizes.

Aman Gupta

Name Aman Gupta

Company boAt

Net Worth $87 million (Rs 720 crore)

Aman Gupta – Shark Tank India Judges

Aman Gupta is the co-founder and CMO of India’s biggest wearable brand boAt. The company has taken not only the country but the whole world by storm with its affordable and good-quality audio ear-wear. The net worth of the shark Aman Gupta is approximately $87 million.

boAt has captured the Indian electronic gadgets market brilliantly. He co-founded boAt in the year 2016 and has transformed the company into one of the biggest audio brands since then. He has invested in various startups on the show like Nuutjob, Altor, Revamp Moto, Ariro, etc. Aman Gupta received more than INR 9 lakh per episode in season 2.

List of All Startups Funded by Aman Gupta | Aman Gupta Investments

Aman Gupta is the co-founder and CMO of boAt and has invested in many companies in and out of Shark Tank India. Check out the list of all the Aman Gupta investments. Explore the list of Aman Gupta portfolio companies here.

StartupTalkyMuskaan Kapoor

Namita Thapar

Name Namita Thapar

Company Emcure Pharmaceuticals

Net Worth $67 million (Rs 600 crore)

Namita Thapar – Shark Tank India Judges

Namita Thapar is a businesswoman who is leading the pharmaceutical industry with Emcure Pharmaceuticals. It is a multinational pharma company founded in the year 1983 and Thapar is currently the CEO of the company. She has invested in various startups on the show like Brainwired, Sunfox Technologies, Kabaddi Adda, Sneakare, etc. Namita Thapar charged approximately INR 8 lakh per episode.

List of Namita Thapar Investments | Startups Funded by Namita Thapar of Emcure Pharmaceuticals

Namita Thapar is Emcure Pharmaceuticals’ Executive Director and Shark Tank India judge. Check out the entire list of Namita Thapar’s investments in startups here.

StartupTalkyBharath

Peyush Bansal

Name Peyush Bansal

Company Lenskart

Net Worth $72 million (Rs 600 crore)

Peyush Bansal – Shark Tank India Judges

Peyush Bansal made his name by launching India’s biggest eyewear retail chain Lenskart. It was founded in the year 2010 and has been increasing the bar simultaneously. The current value of the company is $5.6 billion. The eyewear industry in India has revolutionized because of Lenskart and has been turning heads worldwide. He has invested in various startups on the show like Loka, Hair Originals, Isak Fragrances, etc. Peyush Bansal got INR 7 lakh per episode. The net worth of Peyush Bansal stands at $72 million (approx).

How Valuation Is Calculated in Shark Tank India

Dive into the world of Shark Tank India and discover the secrets behind company valuation. Uncover the negotiation strategies and valuation methods employed as entrepreneurs pitch their ideas to the sharks.

StartupTalkyTejas Mundhada

Azhar Iqubal

Name Azhar Iqubal

Company Inshorts

Net Worth –

Azhar Iqubal – Shark Tank India Judges

Azhar Iqubal is the co-founder and Chairman of the well-known news aggregation app, Inshorts. He is a dropout from the Indian Institute of Technology (IIT). With Deepit Purkayastha and Anunay Arunav, he founded Inshorts as a Facebook page, which was introduced in 2013. The Inshorts app is currently worth around $550 million. Azhar was a new addition to Shark Tank India season 3 and will continue as a shark in season 4.

Success Story of Azhar Iqubal – Co-Founder and CEO of Inshorts

Dive into the Shark Tank India sensation, Azhar Iqubal, the visionary behind Inshorts, the news app disrupting the media landscape, and discover his entrepreneurial journey.

StartupTalkyKanimozhi Sivakumar

Vineeta Singh

Name Vineeta Singh

Company Sugar Cosmetics

Net Worth $36 million (Rs 300 crore)

Vineeta Singh – Shark Tank India Judges

Vineeta Singh is an entrepreneur who proves that following your dreams with courage is what you need. She is the CEO and Co-Founder of Sugar Cosmetics, one of the largest Indian brands of cosmetics that is growing at an intense speed. She is an Alumni of IIT Madras and IIM Ahmedabad, the amazing part is she rejected a INR 1 crore job offer to follow her dream of running her own company.

Sugar was founded in the year 2012 and is a cruelty-free makeup brand that has captured the heart of the Indian audience. The current value of Sugar Cosmetics is $700 million (approx). She has invested in various startups on the show like Booz, Humpy Farms, Wakao Foods, etc. Vineeta Singh charged INR 5 lakh per episode.

Vineeta Singh Success Story: The Driving Force of Sugar Cosmetics | Education | Net Worth

Vineeta SIngh is the co-founder of Sugar Cosmetics and is one of the Sharks in Shark Tank India. She is the most famous Indian Entrepreneur in the D2C Cosmetics industry. Learn about the life story of Vineeta Singh starting from her early life, her education, her age, her entrepreneurial journey, her struggles her current state, and much more.

StartupTalkySarika Anand

Anupam Mittal

Name Anupam Mittal

Company Shaadi.com, Makaan.com

Net Worth $21.81 (Rs 185 crore)

Anupam Mittal – Shark Tank India Judges Net Worth

Anupam Mittal is another popular shark in the business reality show. He is the founder and CEO of Shaadi.com and Makaan.com and is said to be one of the top angel investors in the country. The net worth of Anupam Mittal stands at $21.81 million. After graduating from Boston College, Mittal founded Shaadi.com in the year 1997 as Sagaai.com and changed its name in 2001. The total number of users of Shaadi.com in 2023 is estimated to be 35 million.

He has also invested in startups like OLA. In Shark Tank, he has invested in various startups on the show like Lysto, VivaLyf, Bamboo India, Tweek Labs, etc. Anupam Mittal received more than INR 7 Lakh per episode.

Anupam Mittal Story: Founder of Shaadi.com | Net Worth | Education |

Anupam Mittal the founder of People Group and Shaadi.com, is among the Judges of Shark Tanks India. Here’s his success story, about his personal life, education, net worth, and more.

StartupTalkyManav Makhija

Ghazal Alagh

Name Ghazal Alagh

Company Mamaearth

Net Worth $20 million (Rs 150 crore)

Ghazal Alagh – Shark Tank India Judges

Ghazal Alagh founded one of the most popular personal products brands, Mamaearth, in the year 2016. The brand specializes in chemical-free baby-care products, and it now manufactures personal products for everyone. Mamaearth entered the Unicorn Club in the year 2022. The company launched its IPO on November 7, 2023. Ghazal Alagh got INR 8 lakh per episode. However, she discontinued the show after Shark Tank India season 1.

Ghazal Alagh Success Story: Mamaearth Founder | Biography | Education

Explore the inspiring journey of Ghazal Alagh, a visionary mompreneur redefining success. Join us in discovering how she seamlessly integrates mom and entrepreneur roles, leaving a lasting impact on the business world. Find out about Ghazal Alagh’s success story, including her early life, history, net worth, childhood, personal life, education, achievements, and more.

StartupTalkyKanimozhi Sivakumar

Radhika Gupta

Name Radhika Gupta

Company Edelweiss Mutual Fund

Net Worth Rs 41 crore

Radhika Gupta – Shark Tank India Judges

Radhika Gupta is a successful entrepreneur and investor. She was a new addition to the Shark Tank India season 3 judging panel. She has been the Managing Director and CEO of Edelweiss Mutual Fund since 2017, and she has helped the company expand to become one of India’s top mutual fund houses. Under Gupta’s leadership, Edelweiss Mutual Fund has grown into a leading player in the Indian mutual fund industry. The company has launched a number of innovative products and services and has consistently outperformed the benchmark indices. The net worth of Radhika Gupta is Rs 41 Crores.

Edelweiss Mutual Fund has total assets under management (AUM) of Rs 1,64,554 crores. It manages 399 schemes, including 26 Equity schemes, 16 Debt schemes, 4 Hybrid schemes, and 2 Money Market schemes.

Radhika Gupta: Edelweiss Mutual Fund CEO to Shark Tank Judge

Let’s dive into Radhika Gupta, CEO of Edelweiss Mutual Fund, and discover her journey to success in the world of business.

StartupTalkyKanimozhi Sivakumar

Varun Dua

Name Varun Dua

Company Acko

Net Worth Rs 107 crore

Varun Dua – Shark Tank India Judges Net Worth

Varun Dua is an Indian entrepreneur and the founder of Acko, an insurance technology (insurtech) startup that provides digital insurance solutions for individuals and businesses. He is recognized as a pioneer in the Indian insurtech space and has been credited with transforming the insurance industry through innovative technology and customer-centric approaches. The valuation of Acko Insurance is $1.4 billion.

Varun Dua was introduced as a new judge to the Shark Tank India season 3 panel. Dua’s entrepreneurial acumen and his commitment to innovation have earned him recognition as a leading figure in the Indian startup ecosystem. He has been featured in Forbes’ 30 Under 30 India list and has received numerous awards for his contributions to the insurance industry.

Varun Dua: The Visionary Behind India’s Insurtech Revolution | Education | Family | Net worth | Acko

Discover Varun Dua’s inspiring journey as the founder of Acko, India’s leading digital insurance platform, and his impact on the insurtech industry. Learn about Varun Dua’s family, education, net worth, age, and more from this article.

StartupTalkySarika Anand

Kunal Bahl

Name Kunal Bahl

Company Snapdeal, Titan Capital

Net Worth –

Kunal Bahl – Shark Tank India Judges

Kunal Bahl is an Indian entrepreneur known for co-founding Snapdeal, a leading e-commerce platform, and Titan Capital, a prominent venture capital firm. Bahl has significantly impacted the Indian startup ecosystem by investing in companies like Ola and Mamaearth. He also holds key positions in organizations such as NASSCOM and the National Startup Advisory Council, showcasing his influence in India’s business landscape. Kunal Bahl is the newest shark on Shark Tank India season 4.

Kunal has received various prestigious awards including Ernst & Young Entrepreneur of the Year (Startup), Fortune Global 40 under 40, and The Economic Times Entrepreneur of the Year, among others.

Kunal Bahl: The Newest Shark in Shark Tank India | Personal Life | Education | Snapdeal

Explore the biography of Kunal Bahl, co-founder of Snapdeal and Titan Capital. Learn about his early life, education, investments, and more.

StartupTalkyShubham Kumar

Viraj Bahl

Name Viraj Bahl

Company Veeba

Net Worth –

Viraj Bahl – Shark Tank India Judges

Viraj Bahl is the Founder and Managing Director of Veeba (VRB Consumer Products Pvt. Ltd.), a leading consumer food brand. He has joined the cast of Shark Tank India Season 4. Viraj is known for his deep understanding of the food industry. He is excited to share his knowledge and mentor entrepreneurs with great, scalable ideas.

His experience in building a successful business will help guide those looking for investments and advice. Viraj has studied Industrial Marine Engineering at Singapore Polytechnic.

Viraj Bahl: The Sauce King of India’s FMCG Sector | Education | Biography | Career |

Discover Viraj Bahl’s journey from a failed restaurant business to building an INR 1,000 crore brand and becoming a new shark on Shark Tank India. Learn more about Viraj Bahl’s education, career, etc.

StartupTalkySakshi Jadhav

Mohit Yadav

Name Mohit Yadav

Company Minimalist

Net Worth –

Mohit Yadav – Shark Tank India Judges

Mohit Yadav is the Co-Founder of Minimalist, a popular skincare and haircare brand known for its clean, transparent, and science-backed formulations. He has joined the cast of Shark Tank India Season 5. Mohit is recognised for his deep understanding of the beauty and consumer products industry and his commitment to honest, research-based innovation.

His entrepreneurial journey spans ventures like Freewill and Oto.com, and senior roles at CarDekho, Deloitte, and Credit Suisse. Mohit is a qualified Chartered Accountant, holding an ACA in Finance and Accounts from The Institute of Chartered Accountants of India, where he was a gold medalist.

His experience in scaling successful businesses will help him guide and mentor budding entrepreneurs seeking both investment and strategic insight.

Srikanth Bolla

Name Srikanth Bolla

Company Bollant Industries

Net Worth –

Srikanth Bolla – Shark Tank India Judges

Srikanth Bolla is the Founder and Chairman of Bollant Industries, a company based in Hyderabad. It makes eco-friendly and biodegradable packaging products. He has joined the cast of Shark Tank India Season 4. Srikanth is known for supporting people with disabilities and building a business that helps the environment.

Born blind, Srikanth faced many challenges but stayed determined. He studied Management Science at the Sloan School of Management, Massachusetts Institute of Technology (MIT), and was the first visually impaired student in that course.

Srikanth is excited and all set to guide new founders and support business ideas that are both smart and socially responsible.

How a Blind Man Built a Multi-Crore Business: The Srikanth Bolla Story

Discover the remarkable story of Srikanth Bolla, a visually impaired entrepreneur who defied all odds to build a successful business empire. A journey of courage, resilience, and inspiration. Learn about his career, biography, shark tank and more.

StartupTalkySakshi Jadhav

Vikas D Nahar

Name Vikas D Nahar

Company Happilo

Net Worth –

Vikas D Nahar – Shark Tank India Judges

Vikas D Nahar is an Indian businessman who has made a name for himself in the healthy food industry. He is the founder of Happilo International, a company that specializes in offering high-quality dried fruits, nuts, seeds, dates, hampers, and more. Despite facing numerous rejections, Vikas persevered and successfully raised funds for Happilo, which has now become a well-known health food brand.

Nahar was the guest shark for the grand finale of Shark Tank India Season 2. A special “digital-only” episode on SonyLiv called “Gateway to Shark Tank India 2” aired, wherein aspiring business owners got the chance to interact with Vikas and other sharks and pitch their ideas to them.

Conclusion

Shark Tank created a huge buzz in the country and has become a very popular business reality show in India. Various entrepreneurs from different parts of the country came here to showcase their innovative business plans in front of the sharks in the hope of getting investments for their companies. The Shark Tank India judges provided investments to their preferred business ideas and gave them a chance to flourish with their ideas. Season three of this show is anticipated to be bigger, with quality judges and creative business ideas.

FAQs

Who is the richest shark in Shark Tank India?

The richest sharks on Shark Tank India include Ritesh Agarwal, Ronnie Screwvala, Amit Jain, Aman Gupta, Anupam Mittal, and more.

Who were the newly added Sharks in Shark Tank India Season 3?

Ritesh Agarwal (Founder of OYO Rooms), Deepinder Goyal (Co-founder of Zomato), Azhar Iqubal (Co-founder of Inshorts), Radhika Gupta (CEO of Edelweiss Mutual Fund), Varun Dua (Founder of Acko), and Ronnie Screwvala (Co-founder of UpGrad) were the newly added sharks.

How much do Shark Tank India judges earn per episode?

The sharks earn between INR 5-10 lakhs per episode, with varying rates depending on their profile and involvement.

Will Deepinder Goyal return to Shark Tank India season 4?

Deepinder Goyal is not part of Shark Tank India season 4. While rumours suggested his exit was due to Swiggy’s sponsorship, the show’s makers clarified that his absence was due to scheduling conflicts, and they would be happy to have him on future seasons.

Is there a Billionaire in Shark Tank India?

Deepinder Goyal, the founder of Zomato, has a net worth of $1.7 billion, and Ronnie Screwvala, with a net worth of $1.53 billion, has been among the billionaires featured on Shark Tank India in previous seasons.

What is Aman Gupta net worth?

The net worth of Aman Gupta is $93 million (INR 720 Crores).

What is Anupam Mittal net worth?

The net worth of Anupam Mittal is $21.8 million (INR 185 Crores).

Who is the newest shark in Shark Tank India season 4?

Kunal Bahl, co-founder of Snapdeal and Titan Capital, and Viraj Bahl, Founder and Managing Director of Veeba, have joined the panel of judges on Shark Tank India Season 4. In March 2025, Srikanth Bolla, Founder and Chairman of Bollant Industries, also joined the judges’ panel.
March 17, 2025

Name	Ritesh Agarwal
Company	OYO Rooms
Net Worth	Rs 14,400 crore

Name	Ronnie Screwvala
Company	UpGrad
Net Worth	$1.55 billion (Rs 13,000 crore)

Name	Amit Jain
Company	CarDekho
Net Worth	$355 million (Rs 3,017 crore)

Name	Deepinder Goyal
Company	Zomato
Net Worth	$1.8 billion (Rs 15,274 crore)

Name	Ashneer Grover
Company	BharatPe
Net Worth	$108 million (Rs 900 crore)

Name	Aman Gupta
Company	boAt
Net Worth	$87 million (Rs 720 crore)

Name	Namita Thapar
Company	Emcure Pharmaceuticals
Net Worth	$67 million (Rs 600 crore)

Name	Peyush Bansal
Company	Lenskart
Net Worth	$72 million (Rs 600 crore)

Name	Azhar Iqubal
Company	Inshorts
Net Worth	–

Name	Vineeta Singh
Company	Sugar Cosmetics
Net Worth	$36 million (Rs 300 crore)

Name	Anupam Mittal
Company	Shaadi.com, Makaan.com
Net Worth	$21.81 (Rs 185 crore)

Name	Ghazal Alagh
Company	Mamaearth
Net Worth	$20 million (Rs 150 crore)

Name	Radhika Gupta
Company	Edelweiss Mutual Fund
Net Worth	Rs 41 crore

Name	Varun Dua
Company	Acko
Net Worth	Rs 107 crore

Name	Kunal Bahl
Company	Snapdeal, Titan Capital
Net Worth	–

Name	Viraj Bahl
Company	Veeba
Net Worth	–

Name	Mohit Yadav
Company	Minimalist
Net Worth	–

Name	Srikanth Bolla
Company	Bollant Industries
Net Worth	–

Name	Vikas D Nahar
Company	Happilo
Net Worth	–

List of Ritesh Agarwal Investments: Companies Funded by Shark Tank India’s Youngest Shark

The Indian hospitality industry is booming, and one person who has made a significant mark is Ritesh Agarwal with his company, OYO. His journey began with a small venture, Oravel Stays, which evolved into OYO, now a multi-billion-dollar business. Agarwal was listed among the top 10 youngest Indian billionaires in the Hurun Rich List of 2024.

He gained even more popularity when he joined the panel of judges on Shark Tank India in 2023. He also got the tag of being the youngest shark on the show. His calm personality, strong advice, and investment skills as seen on the show have earned him the trust of the entrepreneurial community.

In this article, we’ll explore Ritesh Agarwal’s investment portfolio and his strategic investment approach.

Who is Ritesh Agarwal?

Ritesh Agarwal, born in 1993 in Odisha, India, is the Founder and Group CEO of OYO, a leading player in the hospitality industry. Growing up in a small town, Ritesh’s family ran a local shop, giving him early exposure to business. He attended St. John’s Senior Secondary School before moving to Delhi for his higher studies. However, he soon decided to drop out to pursue his entrepreneurial dreams.

In 2011, Ritesh founded Oravel Stays, which later became OYO Rooms in 2013. His idea was to provide affordable and reliable accommodation for travellers, disrupting the budget hospitality sector in India. Ritesh’s unique approach led him to be selected for the Thiel Fellowship in 2013, a program that supports young entrepreneurs. He was the first Asian resident to be accepted to the Thiel Fellowship.

Apart from leading OYO, Ritesh gained great recognition as a judge on Shark Tank India. In 2023, he became the youngest “Shark” on the show, where his practical advice and investment skills have made him a respected figure among budding entrepreneurs.

Today, Ritesh Agarwal’s OYO Rooms operates globally, and he continues to play a key role in shaping India’s startup ecosystem. With his sharp business skills and investment acumen, Ritesh is undoubtedly one of the most influential young entrepreneurs in India.

List of Ritesh Agarwal Investments

Here is a comprehensive list of all the Ritesh Agarwal invested companies as sourced from Tracxn (as of February 2025):

Ritesh Agarwal Invested Companies	Founded Year	Headquarters	Sector & Sub-sector
JoySpoon	2020	Gujarat	Consumer > Food & Beverage > Mukhwas and Mouth Fresheners
Bambinos	2020	Karnataka	EdTech > K-12 EdTech
BorderPlus	2025	Maharashtra	Enterprise Applications > HRTech
Shyle	2016	Rajasthan	Consumer > Fashion Tech
Aquapeya	2017	Maharashtra	Food and Agriculture > Food & Beverage Products
Speed Kitchen	2020	Delhi	Food and Agriculture Tech > Food Tech
Tripole Gears	2017	Uttar Pradesh	Consumer > Fashion Tech
Culture Circle	2023	Haryana	Consumer > Fashion Tech
Centricity	2022	Delhi	FinTech > Investment Tech
First Bud Organics	2017	Uttarakhand	Food and Agriculture > Food & Beverage Products
Sama	2015	Karnataka	Enterprise Applications > Legal Tech
Allter	2019	Delhi	Retail > Mom & Baby Care
Coratia	2021	Odisha	Environment Tech > Water and Wastewater Management Tech
XMachines	2017	Telangana	High Tech > Industrial Robotics
WhySoBlue	2015	Maharashtra	Consumer Goods > Apparel Brands
Katidhan	2017	Karnataka	Business Services > Robotics Services
iDreamCareer	2012	Delhi	EdTech > K-12 EdTech
Dharaksha Ecosolutions	2020	Haryana	Environment Tech > Solid Waste Management Tech
WiseLife	2020	Haryana	HealthTech > Fitness & Wellness Tech
Nasher Miles	2016	Maharashtra	Consumer > Fashion Tech
Toffee Coffee Roasters	2019	Maharashtra	Food and Agriculture > Food & Beverage Products
Gud Gum	2022	Karnataka	Food and Agriculture Tech > Online Grocery
Yes Madam	2016	Uttar Pradesh	Retail > Beauty Tech
Jewelbox	2022	West Bengal	Consumer > Fashion Tech
HoneyTwigs	2015	Delhi	Food and Agriculture > Food & Beverage Products
Eva Scalp Cooling	2020	Maharashtra	Life Sciences > Oncology
Dil Foods	2022	Karnataka	Food and Agriculture Tech > Food Tech
FroGo	2022	Haryana	Food and Agriculture Tech > Online Grocery
Emversity	2023	Karnataka	Education > Higher Education Institutions
Pepper Content	2017	Delaware	Enterprise Applications > MarketingTech
Josh Talks	2015	Haryana	EdTech > Continued Learning
Hood	2021	Haryana	Consumer > Social Platforms
Dukaan	2019	Karnataka	Retail > E-Commerce Enablers
Nektar AI	2020	Singapore	Enterprise Applications > Sales Force Automation
Unacademy	2015	Karnataka	EdTech > Test Preparation Tech
Easy Eat	2019	Singapore	Food and Agriculture Tech > Food Tech
Zingbus	2019	Haryana	Consumer > Online Travel
RepUp	2012	Haryana	Enterprise Applications > MarketingTech
OYO	2012	Haryana	Consumer > Online Travel

Ritesh Agarwal is not just building his own company, but he is also supporting other entrepreneurs by believing in and investing in them. Throughout his journey, he has invested in various businesses across education, travel, food, SaaS, and more.

As one of the youngest sharks, he knows what it takes to scale a brand. He believes the right support can turn small ideas into big successes. Agarwal’s diverse investment portfolio is clear proof of his commitment to emerging businesses across different sectors.

FAQs

What companies has Ritesh Agarwal invested in?

Some of the key companies Ritesh Agarwal has invested in include Nasher Miles, Toffee Coffee Roasters, First Bud Organics, Speed Kitchen, Culture Circle, iDream Career, Josh Talks, Yes Madam, and more.

Is Ritesh Agarwal a judge on Shark Tank India?

Yes, Ritesh Agarwal joined the Shark Tank India judges panel in Season 3 and is also part of Season 4. He is the youngest shark to join the panel and has made various investments in companies featured on the show.

Did Ritesh Agarwal invest in JoySpoon on Shark Tank India?

Yes, Ritesh Agarwal made a bold investment in JoySpoon on Shark Tank India Season 4. The founders initially asked for INR 40 lakh for 1.5% equity but agreed to a deal with Agarwal for INR 40 lakh in exchange for 2% equity.

February 14, 2025

Sharks on Land: A Look at Shark Tank India Judges’ Achievements
The Shark Tank India judges each have an impressive resume full of varied skills and noteworthy accomplishments from their respective fields. Aside from their roles as judges on the show, these individuals have made significant contributions to a variety of industries, demonstrating remarkable leadership, creativity, and entrepreneurship.

Their travels are engraved with stories of victory and difficulties, capturing the essence of perseverance and vision. From pioneering ventures to leading multimillion-dollar enterprises, their footprints are felt across industries, making an everlasting influence on the Indian economic landscape. Their contributions will inspire future generations and pave the way for a more prosperous and promising future for humankind as the journey progresses.
Ashneer Grover

Name Ashneer Grover

Born 14 June 1982

Position Ex-founder and Managing Director of BharatPe

Achievements of Shark Tank India Judges – Ashneer Grover

As the ex-founder and Managing Director of BharatPe, Ashneer Grover has left an indelible mark on India’s fintech landscape. A graduate of the Indian Institute of Technology, Delhi, and the Indian Institute of Management, Ahmedabad, Grover’s journey includes stints at renowned companies like Kotak Investment Bank, Grofers, PC Jeweller Ltd., and American Express. His brainchild, the BharatPe app, launched in 2018, has garnered over one crore downloads on the Play Store.

Grover’s accolades include:
- The Entrepreneur of the Year award in January 2021
- The Young Achiever’s award was also bestowed upon him in January 2021
Vineeta Singh

Name Vinita Singh

Born 1983

Position Co-founder & CEO of Sugar Cosmetics

Achievements of Shark Tank India Judges – Vineeta Singh

Co-founder & CEO of Sugar Cosmetics, Vineeta Singh, has been instrumental in shaping the beauty industry in India.

Vineeta’s entrepreneurial journey has been decorated with numerous accolades:
- The Startup of the Year 2019 by Entrepreneur Awards, Delhi
- Singh’s leadership prowess landed her on the cover of Forbes Most Powerful Women (MPW) in Business in December 2021
- She was recognized in the Economic Times’ 40 Under 40 list in 2021
Aman Gupta

Name Aman Gupta

Born 4 March 1982

Position Co-founder and Chief Marketing Officer of boAt

Achievements of Shark Tank India Judges – Aman Gupta

A powerhouse in the tech industry, Aman Gupta is the co-founder and Chief Marketing Officer at boAt. Gupta’s entrepreneurial spirit has been lauded with several prestigious awards, such as the Businessworld Young Entrepreneur Award in 2019 and the Entrepreneur of the Year Award in 2020. Under his leadership, the boat achieved the distinction of being named the World’s Top 5 Wearable Brand in both 2020 and 2021.

Aman Gupta’s other achievements include:
- In 2019, he was on the list of Entrepreneur India Tech 25 Class
- In 2020, he was the winner of Super 30 CMOs
- In 2020, he was on the list of 40 under 40 Achievers by Businessworld, The Economic Times
- In 2021, he won the Lokmat Most Stylish Entrepreneur of the Year
- In 2021, he was on the list of 40 Under 40 list of Economic Times
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Anupam Mittal

Name Anupam Mittal

Born 23 December 1971

Position Founder & CEO of People Group and Shaadi.com

Achievements of Shark Tank India Judges – Anupam Mittal

As the founder & CEO of People Group and Shaadi.com, Anupam Mittal has revolutionized the online matchmaking industry. His impact extends beyond business, as he has been recognized among the top 25 people frequently searched by The Week magazine and listed among India’s 50 Most Powerful People by Business Week.

Anupam Mittal’s contributions have earned him below accolades:
- The Entrepreneur of the Year award by IT People
- The Karamveer Puraskar
Namita Thapar

Name Namita Thapar

Born 21 March 1977

Position Executive Director of Emcure Pharmaceuticals

Achievements of Shark Tank India Judges – Namita Thapar

Namita Thapar, Executive Director of Emcure Pharmaceuticals, is a trailblazer in the pharmaceutical sector.

Namita’s exemplary leadership has garnered numerous achievements:
- Recognition in The Economic Times Women Ahead List 2017
- The Economic Times’ 40 Under Forty
- India’s Hottest Young Business Leaders List 2017
- The Barclays Hurun Next Gen Leader Recognition and
- The World Women Leadership Congress Super Achiever Award
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Ghazal Alagh

Name Ghazal Alagh

Born 2 September 1988

Position Co-founder and Chief Mama of Mamaearth

Achievements of Shark Tank India Judges – Gazal Alagh

Co-founder and Chief Mama of Mamaearth, Ghazal Alagh, has made significant strides in the realm of sustainable and natural beauty products.

Gazal Alagh’s entrepreneurial journey has been punctuated with achievements such as receiving:
- The Best Brand of the Year award for Mamaearth in 2018-2019
- Named one of India’s forty under forty achievers in 2019.
- Alagh’s commitment to excellence was further underscored by the Super StartUps Asia Award in 2019.
Ritesh Agarwal

Name Ritesh Agarwal

Born 16 November 1993

Position Founder and CEO of OYO Rooms

Achievements of Shark Tank India Judges – Ritesh Agarwal

Founder and CEO of OYO Rooms, Ritesh Agarwal‘s entrepreneurial journey began at a young age and has catapulted him to global recognition. His remarkable achievements include being the first Asian resident to win the ’20 Under 20’ Thiel Fellowship and being listed in Forbes’s “30 Under 30” in the consumer tech sector. Agarwal’s innovative approach to hospitality has redefined the concept of budget accommodation worldwide.

Ritesh’s other achievements include:
- Top 50 Entrepreneurs by TATA First Dot Awards in 2013
- Listed as “One of the 8 Hottest Teenage Startup Founders in the World” by Business Insider in 2013
- Received TiE – Lumis Entrepreneurial Excellence Award in 2014
- Young Entrepreneur Award by Business World in 2018
Azhar Iqubal

Name Azhar Iqubal

Born 1993

Position Co-founder and CEO of Inshorts

Achievements of Shark Tank India Judges – Azhar Iqubal

Azhar Iqubal, co-founder and CEO of Inshorts, is a visionary entrepreneur who has disrupted the media landscape with his innovative news aggregation platform.

Iqubal’s achievements include:
- Business World 40 under 40
- Fortune India 40 under 40
- Business World Young Entrepreneur Award
- The Most Enterprising Brands
- Leaders of Asia Award
- Forbes India 30 under 30
- Forbes Asia 30 under 30
Ronnie Screwvala

Name Ronnie Screwvala

Born 8 September 1962

Position Co-founder of upGrad

Achievements of Shark Tank India Judges – Ronnie Screwvala

Co-founder of upGrad, Ronnie Screwvala, has been at the forefront of India’s digital education revolution. His contributions extend beyond business, as evidenced by the Swades Foundation, which aimed to lift a million people out of poverty. U Sports focused on nurturing talent in Kabaddi, E-Sports, and Football.

Ronnie’s achievements include:
- Esquire listed him as one of the 75 Most Influential People of the 21st Century in 2008
- The Time 100 placed him 78th out of the 100 most influential people worldwide
- Fortune Magazine ranked him as one of the 25 Most Powerful People in Asia.
Radhika Gupta

Name Radhika Gupta

Born 14 September 1983

Position Managing Director and CEO of Edelweiss Mutual Funds

Achievements of Shark Tank India Judges – Radhika Gupta

Managing Director and CEO of Edelweiss Mutual Funds, Radhika Gupta, is a stalwart in the finance sector and is recognized for her exemplary leadership and contributions. Gupta’s work in the finance sector has been acknowledged with various awards, including:
- LinkedIn Top Voices in India −2021 in Finance & Economy in 2020
- Fortune India’s 50 Most Powerful Women in Business in 2020
- Economic Times 40 Under 40 Business Leaders Award in 2021
- The Impact Creator Awards 2021, presented by the Governor of Maharashtra in 2021
- Business Today: Most Powerful Women in Indian Business Awards
- Young Global Leader by the World Economic Forum- 2022
- CII Young Women Leader of the Year from the Confederation of Indian Industry (CII) in 2022
- Forbes Women Power: Self-Made Women by Forbes India in 2022
- Business Book of the Year: Self Help (Limitless) by FICCI Publishing, awarded in 2023
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Deepinder Goyal

Name Deepinder Goyal

Born 26 January 1983

Position Co-founder and CEO of Zomato, Director of Upslope

Achievements of Shark Tank India Judges – Deepinder Goyal

Deepinder Goyal is the co-founder and CEO of Zomato, a leading food delivery and restaurant discovery company. He started Zomato in 2008 with Pankaj Chaddah. Before Zomato, he worked at Bain & Company as a consultant. Deepinder is an IIT Delhi graduate and has played a key role in Zomato’s global growth.

Deepinder Goyal won the ‘Entrepreneur of the Year’ award. Union Minister Ashwini Vaishnaw presented him with the award at the NDTV Indian of the Year—2024 event.

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Peyush Bansal

Name Peyush Bansal

Born 26 April 1985

Position Co-founder and CEO of Lenskart

Achievements of Shark Tank India Judges – Peyush Bansal

Peyush Bansal is the CEO and Co-Founder of Lenskart. He holds a Bachelor’s degree in Electrical Engineering — IT, Control, and Automation from McGill University. After a brief stint as a Program Manager at Microsoft, Bansal realized his desire to make a significant impact and returned to India to address the problem of vision correction. Peyush Bansal has been awarded with various accolades, some of his achievements are as follows:
- Awarded Innovator of the Year Award at NDTV Indian of The Year Awards 2023-24
- He received the ‘India TV Yuva Awards in 2015
- Red Herring Top 100 Asia Award 2013
- Emerging Entrepreneur of the Year Award in 2012
- British Honors Award at McGill University
- Best 40 under 40 Entrepreneurs 2019 Fortune India
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Varun Dua

Name Varun Dua

Born 1981

Position Co-founder and CEO of Acko, Co-founder of Coverfox & Glitterbug Technologies

Achievements of Shark Tank India Judges – Varun Dua

Varun Dua is the CEO and the founder of the company, Acko. He completed his education at MICA, Ahmedabad, and the University of Mumbai. After finishing his graduation, Varun served as a trainee at Leo Burnett Advertising for less than a year. He then started his career as a marketing manager at Tata AIG Life Insurance and Franklin Templeton Investments. Varun then founded Coverfox Insurance Broking Pvt. Ltd. Before he founded Coverfox in 2013, Varun founded Glitterbug Technologies. Varun Dua holds a prominent role as one of the Sharks on Season 3 of Shark Tank, adding his expertise and insights to the entrepreneurial landscape.

His achievements include:
- Featured in Forbes’ “30 Under 30” list for Finance.
- Won the Global New Venture Challenge in 2020, receiving $20,000 for his startup idea.
- Recognized as an influential entrepreneur by several business publications.
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Kunal Bahl

Name Kunal Bahl

Born 1 January 1984

Position Co-founder of Snapdeal and Titan Capital

Achievements of Shark Tank India Judges – Kunal Bahl

Kunal is the co-founder of Snapdeal. Bahl was a student at the University of Pennsylvania, where he completed a degree in Systems Engineering. He is also an alumnus of The Wharton School where he studied Marketing and Operations Strategy and also did Executive Program in Marketing from Northwestern University – Kellogg School of Management.

Bahl was also there in the Jerome Fischer M&T Program. In his professional career, Kunal started as an Independent Director of Piramal Enterprises Limited before co-founding Snapdeal in 2010. Bahl also co-founded Titan Capital in 2011 and AceVector Group in June 2022. Thus, Kunal can be summed up as an investor and entrepreneur who aims to create impact through entrepreneurship.

Kunal Bhal has been awarded with the following awards:
- BMA Entrepreneur of the Year 2014
- ET Top 50 Entrepreneurs of India 2014
- Ranked 25 on Fortune 40 under 40 most influential business leaders list 2014
- EY Entrepreneur of the Year – Startup 2014
- Nasscom NextGen Entrepreneur 2014
- The Economic Times Entrepreneur of the Year Award 2015
- AIMA Transformational Business Leader of the Year
- Indian Affairs Business Leader of the Year 2015
- The Joseph Wharton Award for Young Leadership 2018
- The Economic Times Comeback Award 2019
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Viraj Bahl

Name Viraj Bahl

Born 1980

Position Founder & Managing Director of Veeba

Achievements of Shark Tank India Judges – Viraj Bahl

Viraj Bahl is an innovative young entrepreneur with a passion for food. Viraj was born into a long line of entrepreneurs. He wanted to prove to his father that he could be more than just his son.

Viraj had a lifelong passion for working in the food industry. From a failed restaurant business to building an INR 1,000 crore brand and becoming a new panelist on Shark Tank India, Viraj Bahl is a visionary entrepreneur whose passion for food turned into a national success. With much hard work, along with a few roadblocks, today Veeba stands as one of the largest homegrown sauce and condiments brands in India.

Viraj’s achievements include:
- Entrepreneur of the Year 2020 – Economic Times Awards for Innovation and Excellence in Indian Food Industry.
- Top 50 Most Admired Entrepreneurs in India, 2018 Business Today for visionary leadership in building Veeba Foods.
- Best Food Processing Brand, 2019 – Veeba, the Indian Food Forum has given an award that recognizes its high-quality and innovative offerings.
- Sustainable Business Excellence 2021 Winner from FSSAI for Veeba’s commitment towards sustainability and healthy food production practices.
- Fastest-Growing FMCG Brand, 2022 – Economic Times Edge Awarded to Veeba for fast growth and impact in the FMCG sector.
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Vikas D Nahar

Name Vikas D Nahar

Born 1984

Position Founder and CEO, Happilo

Achievements of Shark Tank India Judges – Vikas D Nahar

Born in Bangalore, Vikas D Nahar comes from a farming family background that grew pepper and coffee. He earned his Bachelor of Science in Computer Application from Bangalore University and began his career as a Senior Import Manager (Asia) at Jain Group Pvt. Ltd. Afterward, he pursued a Master of Business Administration in Marketing from the Symbiosis Centre For Management and Human Resource Development in Pune.

Following his MBA, Vikas joined Satvikk Speciality Foods Pvt. Ltd. as the Managing Director. Satvikk Speciality Foods is a health-focused food store that opened its first branch in Bangalore in December 2011. Vikas served as its Managing Director for almost five years. His experience at Satvikk finally helped him establish Happilo, the popular gourmet healthy food brand, in 2016.

Nahar has received numerous prestigious awards and recognitions, including:
- Entrepreneur of the Year 2021 by the Indian Achievers Forum
- ET Entrepreneur of the Year
- SIAL Innovation Awards 2022
- Times’ 40 Under 40
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FAQs

What is Shark Tank India?

Shark Tank India is an Indian business reality television series based on the popular global format Shark Tank. It has budding entrepreneurs pitching their business ideas to a panel of potential investors called ‘Sharks’ to secure investment deals.

Who will be the sharks in Shark Tank India?

Vineeta Singh, Peeyush Bansal, Namita Thapar, Anupam Mittal, Amit Jain, Deepinder Goyal, Varun Dua, Radhika Gupta, Ronnie Screwvala, Azhar Iquabal, Ritesh Agarwal, and Aman Gupta are the sharks in Shark Tank India. Season four of the show will feature two new sharks, Kunal Bahl and Viraj Bahl.

When will Shark Tank premiere in India?

Shark Tank Season Four premiered on Sony LIV on January 06, 2025.
January 15, 2025
OYO Modifies Check-in Policies to Bar Unmarried Couples from Entering

One of the top travel and hotel booking websites in India, OYO, announced a significant policy change for its partner hotels on 5th January. The new rules state that unmarried couples would no longer be permitted to check in at the establishments. According to the corporation, the new regulation will initially only be in effect in Meerut, Uttar Pradesh.

According to Pawas Sharma, OYO North India’s Region Head, maintaining responsible and safe hospitality practices is a priority for the brand. In addition to upholding individual liberties, the business must cooperate with law enforcement and local communities to provide a peaceful workplace.

Empowering Hotel Partners

The business added that unmarried couples might not be accommodated, and hotel partners have the right to turn down reservations in accordance with regional customs. OYO claims that the action is a part of a larger plan to respond to community input and change its reputation as a reliable and secure lodging option for families, business travellers, students, religious pilgrims, and lone travellers.

OYO’s ruling came after civil society organisations, especially in Meerut, repeatedly called for stronger laws prohibiting unmarried couples from staying. Residents of other cities have submitted similar petitions, so the company decided to test the policy in Meerut and, depending on response, consider extending it to other areas.

The policy is now only applicable in Meerut. OYO states that the feedback from the initial launch will determine whether or not the guidelines are extended to more places.

OYO’s Business and Financial Dynamics

Redsprig Innovation Partners, the company founded by Ritesh Agarwal, contributed INR 550 Cr, or around $65 million, to OYO last week. In order to obtain funds, the business issued 12.91 Cr equity shares at an issue price of INR 42.6 per share, according to its filings with the Ministry of Corporate Affairs.

OYO is a hospitality services firm that was founded in 2012 by Agarwal and offers reasonably priced lodging options to clients worldwide. It states that it provides over 40 integrated products and solutions in over 35 countries, including Southeast Asia, Europe, and India. In the second quarter of the current fiscal year, which concluded in September, OYO’s parent company reported a net profit of INR 158 Cr. This follows a profit of INR 132 Cr in the previous quarter (Q1 FY25). This represents a 19.6% sequential increase. From INR 1,413 Cr in Q1 FY25 to INR 1,578 Cr in Q2 FY25, the company’s revenue increased by 12%.

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January 7, 2025

Name	Ashneer Grover
Born	14 June 1982
Position	Ex-founder and Managing Director of BharatPe

Name	Vinita Singh
Born	1983
Position	Co-founder & CEO of Sugar Cosmetics

Name	Aman Gupta
Born	4 March 1982
Position	Co-founder and Chief Marketing Officer of boAt

Name	Anupam Mittal
Born	23 December 1971
Position	Founder & CEO of People Group and Shaadi.com

Name	Namita Thapar
Born	21 March 1977
Position	Executive Director of Emcure Pharmaceuticals

Name	Ghazal Alagh
Born	2 September 1988
Position	Co-founder and Chief Mama of Mamaearth

Name	Ritesh Agarwal
Born	16 November 1993
Position	Founder and CEO of OYO Rooms

Name	Azhar Iqubal
Born	1993
Position	Co-founder and CEO of Inshorts

Name	Ronnie Screwvala
Born	8 September 1962
Position	Co-founder of upGrad

Name	Radhika Gupta
Born	14 September 1983
Position	Managing Director and CEO of Edelweiss Mutual Funds

Name	Deepinder Goyal
Born	26 January 1983
Position	Co-founder and CEO of Zomato, Director of Upslope

Name	Peyush Bansal
Born	26 April 1985
Position	Co-founder and CEO of Lenskart

Name	Varun Dua
Born	1981
Position	Co-founder and CEO of Acko, Co-founder of Coverfox & Glitterbug Technologies

Name	Kunal Bahl
Born	1 January 1984
Position	Co-founder of Snapdeal and Titan Capital

Name	Viraj Bahl
Born	1980
Position	Founder & Managing Director of Veeba

Name	Vikas D Nahar
Born	1984
Position	Founder and CEO, Happilo

OYO Business Model | How OYO Makes Money

OYO is a global platform involved in technology for small businesses and entrepreneurs in the hospitality industry to enhance their revenue and operations. It is a means to provide affordable, easy, and trusted accommodations to guests around the world. OYO has more than 40 integrated products and services that comprise more than 157,000 hotels and homes in 35-plus countries, including India, Europe, and Southeast Asia around the globe.

The man behind the business is Ritesh Agarwal, who is also the first Asian resident to take up the Thiel Fellowship. OYO converts the existing and independent hospitality spaces into branded, technology-enabled assets that promise better revenue potential for the owners. These technology tools are offered through Co-OYO and OYO OS and provide features like digital onboarding, revenue management, and business management.

Booking can be done on OYO properties through the OYO app and website, apart from other third-party platforms. The OYO app has over 100 million downloads and provides services such as digital check-in, easy booking, and pre-post-stay services. With a membership base of about 9.2 million, OYO Wizard is the second-largest travel and food brand loyalty program in India.

About OYO

An innovative startup founded in 2013 by Ritesh Agarwal, OYO Rooms has seen an amazing journey through hospitality-treading its meteoric rise and coming across several hurdles on its way. OYO Hotels and Homes was launched as Oravel Stays in 2012, a website that showed budget accommodations and then rebranded as OYO (“On Your Own”) to set up a standard pool of budget hotels across the country, before finally being launched as Oravel Stays. At first, OYO had only five hotels in Gurugram, India, but growth was fabulous online bringing small-budget hotels into the purview.

By 2015, OYO had enlarged to 230 cities and was operating with a consolidated network of over 70,000 rooms. The year 2016 started into a new era for OYO international offerings, starting from Malaysia, and had joined the company in the other package that was to become an international company spreading into China, the United Kingdom, and the USA by 2019, with an estimated presence of around 800 cities in more than 80 countries. However, because of COVID-19, the travel industry went haywire; hotel demand slashed, saw massive layoffs, and many hotel partners closed operations or went out of business. OYO is presently caught up in litigation regarding mismanagement and has seen its valuation dip from $10 billion in 2019 to just $3 billion by 2020. However, OYO is focusing on recovery by integrating initiatives like VaccinAid and OYO Workspaces to keep up with the changing market conditions.

OYO Business Model

Incorporating a distinctive model that blends between franchising and aggregation, OYO Rooms has established itself. Initially, OYO rented Hotel Rooms which it then standardized under its brand and subsequently ensured that these would be consistently serviced through an agreement with partner hotels. Bookings can be made through the mobile app or website. Over the years, this business model has changed into a purely franchising model where the hotels now use OYO’s brand without having to lease. This has helped partners to create revenues that could even reach a “double bottom line.”

OYO has a range of ancillary services that should be able to address different customer needs. The partner hotels are also influenced by OYO standards in their services, thus, assuring quality and consistency. OYO Flagship thus leases and directly manages hotels to better control them. OYO Townhouse, provides further treatment to young travelers, blessing them with modern rooms, meeting space, kitchens open 24 hours a day, 7 days a week, and digital enhancements like Netflix-enabled TVs. OYO also has a Studio Stay for long-term residents like professionals and students. Event Stay is perhaps their newest segment for weddings or cofunction events. OYO’s clients can also find Commercial Spaces for coworking and office use. Finally, its loyalty program OYO Wizard offers subscribers exclusive discounts and deals.

How OYO Makes Money | OYO Revenue Model

OYO Rooms has always been a multistream revenue model, which inherently varies with time to ensure constant growth. On the other hand, the company makes revenue from a commission-based model it charges its hotel partner between 20%-30% of the gross booking value (GBV) for each booking made through the platform. The collation varies according to the services offered by hotels and booking frequency.

Today, OYO earns a sizable share of revenue from the franchise model, which now accounts for almost 90 percent of earnings. Under this business model, OYO partners with hotels to run their operations under the OYO brand, thus growing the network without property ownership and having standardized and equable services. Other value-added services provided by OYO, apart from the reservation fees which few add with a markup over the base room rate that they charge and OYO Wizard, are also factors contributing to OYO’s revenue.

Other ways of monetization for the OYO include the revenues from advertising and partnerships, where companies could promote their brands on the OYO platform. A significant number of bookings are not done through third parties, as they have developed direct-to-customer websites and mobile applications, such as OYO, with the resultant loss of dependence and better margins.

OYO Revenue

OYO Financials	FY23	FY24
Operating Revenue	INR 5464 crore	INR 5389 crore
Total Expenses	INR 6800 crore	INR 5726 crore

OYO made a profit of INR 158 crore in the second quarter of FY25, ending in September, as shared by the founder Ritesh Agarwal in a town hall meeting, according to sources. OYO’s parent company, Oravel Stays Ltd, had a loss of INR 50 crore during the same period last year in FY24. In the first quarterof FY25, OYO’s profit after tax was INR 132 crore, bringing its total profit for the first half of FY25 to INR 290 crore ($35 million). This is a big turnaround from the INR 91 crore net loss in the same period last year. OYO’s revenue in Q2 FY25 also grew to INR 1,578 crore, up from INR 1,413 crore in Q1.

OYO Revenue Y-o-Y

Year	Revenue (In INR crores)	Profits/Loss (In INR crores)
FY 2019	6,329	-2,364
FY 2020	13,168	-13,122
FY 2021	3,961	-3,943
FY 2022	4,781	-1,940
FY 2023	5,464	-1,287
FY 2024	5,388	229

OYO Unique Selling Proposition

OYO has transformed the budget hotel category by providing guests with standardized, high-quality spaces with bathrooms and charges for free wi-fi and breakfast, including other services, without compromising on price. The technology-driven online platform creates unprecedented seamlessness in booking, dynamic pricing, and real-time inventory management. For modern travelers, features like 24-hour check-in and excellent customer support address travel needs.

OYO now operates in over 80 countries and still manages to blend global coverage with localized service and standards for rigorous checks on quality. It provides marketing, technology, and access to large distribution networks to help small hotel partners increase occupancy levels in many locations. It offers a very diverse range of unique accommodation options from vacation homes to more premium Townhouse stays complemented with dynamic pricing and a customer-centric philosophy that engenders monopolistic loyalty.

OYO SWOT Analysis

OYO Strengths

Standardized Quality: OYO sets the provision of all the amenities and services across its locations such that they become unified into one experience in every property for the customers.
Extensive Global Network: Spread wide to include over 85000 hotels worldwide, OYO boasts of diversification, which greatly widens its market penetration.
Asset-Light Model: The company works with existing hotels and does not have any property by it; hence, the company has the possibility of speeding up in most of the cases where flexibility is given to investments made into real estate.
A Range of Accommodation Types: There are many offerings for customers’ different needs of budget hotels, vacation homes, co-living spaces, and even high-end accommodations.

OYO Weaknesses

Heavy Dependence on External Financing: It is becoming very dependent on venture capital for its future growth which brings the proposition about the sustainability of the business model and long-term profits in the shift into a self-sustaining business.
Brand Equity Problems: The speed with which operations grow often leads them to become quite inefficient and mishandle customer experience, which negatively affects the equities of the brand in a few markets and customer faith.
Regulatory Complexity: This diversity within the market operations provides for some further complications in laws and compliance under which these sporadic disputes and operating impediments take place.

OYO Opportunities

Emerging Markets: Emerging markets are cast in spotlight areas on the continents that include Africa and South-East Asia, which presently concern increasing underdevelopment with respect to hospitality.
Technological Integration: Technological arm in creating applications by innovations like artificial intelligence and IoT in which customer services will be improved, operations streamlined, and the experience with these intelligent technologies further focused on the guests.
Green Initiation: Since greener hotels are preferred by travelers, the same is financially beneficial for OYO once it becomes sustainable as a claim within this segment mind of travelers.
Strategic Alliance: This is the development of an engine, joined with a travel agent and a local business network adding plenty more revenues into the company in exclusive packages for the customers.

OYO Threats

Highly Competitive Market: Competition is quite a challenge for OYO as it is a competitor with established hotel chains like Marriott and Hilton, and the likes of Airbnb, all betting for the same space in the market.
Economic Sensitivity: Economic downturns entail cutting back on travel budgets, leading to reduced demand for budget-friendly accommodation and inexpensive lodgings.
Concern for Safety and Innovation: Safety standards are maintained, which sustains consumer trust; keeping up with rapid developments will, however, ensure constant disruptive competition.

Conclusion

OYO is growing steadily in the global hospitality industry. It has grown phenomenally, become dynamic over the years, and continues to develop. Having an entirely different business model, based on the principles of standardization and low-cost budgets, has allowed OYO to occupy a market open for competition in one of the existing highly competitive markets. OYO holds certain advantages that will contribute to success, primarily, an extensive network of properties, brands, and technology.

Among the major challenges facing the company will include an economy of scale, brand reputation issues, complex governmental regulations, and some stiff competition from international and local chains of hospitality and a new generation of platforms. Tackling some of its weaknesses and taking off opportunities from developing markets, emerging technologies, and sustainability would create commercial value in OYO. Above all, the place and customer experience will matter for the gradual growth and sustainability of the business as it will involve an ongoing evolution and change according to the dynamics of the market.

Particularly, adopting these principles will prove critical in business continuity, optimization of performance post-COVID, and ensuring that OYO handles growth and profitability consistently well. Indeed, in the coming years, it will probably be fine to discuss whether this company has a future in hospitality.

FAQs

What is OYO?

OYO is a global hospitality company founded in 2013 by Ritesh Agarwal. It provides affordable and standardized accommodations, including hotels, homes, and vacation rentals, across multiple countries. OYO uses technology to simplify booking and improve guest experiences.

How does OYO make money?

OYO earns money through commissions from hotels, franchise fees, room bookings, leased properties, and extra services like food and event spaces.

What is OYO USP?

OYO’s USP is affordable, standardized, and tech-enabled accommodations with easy booking, consistent quality, and wide availability across locations.

January 2, 2025

Exploring the Educational Backgrounds of All the Judges on Shark Tank India

In a world where each individual is a unique mosaic of experiences, passions, and goals, the path to success is as varied as the individuals themselves. The many educational backgrounds people bring are crucial to this variation fabric.

Every choice made on Shark Tank India is based on a wealth of experience and expertise fashioned by the different educational backgrounds of its respected judges. These diverse fields provide a thorough understanding of business principles and invaluable insights into various industries and market dynamics.

In this post, we’ll look at all Shark Tank India judges’ educational backgrounds and how they’ve applied their qualifications and expertise in the real world.

Vineeta Singh
Aman Gupta
Anupam Mittal
Namita Thapar
Peyush Bansal
Amit Jain
Ritesh Agarwal
Deepinder Goyal
Azhar Iqubal
Kunal Bahl
Ronnie Screwvala
Varun Dua
Viraj Bahl
Radhika Gupta
Ashneer Grover
Ghazal Alagh
Vikas D Nahar

Vineeta Singh

Name	Vineeta Singh
Position	Co-founder & CEO of Sugar Cosmetics
Education	B.Tech (IIT-Madras), MBA (IIM-Ahmedabad)

Vineeta Singh was born in Anand, Gujarat, India, in 1983 and is 40 years old as of 2023. She completed her schooling at Delhi Public School R. K. Puram, New Delhi, from 1987 to 2001. She graduated from the Indian Institute of Technology, Madras, with a B.Tech in Electrical Engineering. While at IIT Madras, she did her three-month summer internship with I.T.C. Limited in Kolkata. In 2005, she graduated from the Indian Institute of Management in Ahmedabad with an MBA She worked as an intern for three months at Deutsche Bank in both London and New York while she studied for her MBA. Vineeta Singh worked on projects with the strategic equity transaction group in New York and the emerging markets structuring team in London during her internship.

Aman Gupta

Name	Aman Gupta
Position	Co-founder and Chief Marketing Officer at boAt
Education	Delhi University, Institute of Chartered Accountants of India, Indian School of Business, Kellogg Graduate School of Management

Aman Gupta finished his education at Delhi Public School, R. K. Puram, New Delhi. He later pursued a Bachelor of Commerce (Hons.) degree at Shaheed Bhagat Singh College. He attended the Institute of Chartered Accountants of India from 1999 to 2002 to pursue his studies in accounting, finance, and chartered accountancy. He then enrolled in the Indian School of Business to pursue an M.B.A. in Finance and Strategy. Following that, in 2011, he enrolled in Northwestern University’s Kellogg School of Management’s student exchange program to pursue an M.B.A. in General Management and Marketing.

Anupam Mittal

Name	Anupam Mittal
Position	Founder & CEO of People Group and Shaadi.com
Education	MBA in Operations & Strategic Management (Boston College, US)

Anupam Mittal’s widespread fame stems from his position as CEO and founder of Shaadi.com and the People Group. Having started internet enterprises before the internet bubble, Mittal is among the pioneering technology-driven entrepreneurs in India. In addition, he has produced Bollywood films Flavors and 99 under the banner of his parent firm, People Group. He was born in Mumbai, India, and completed his education at Jai Hind College. He earned his M.B.A. degree in operations and strategic management from Boston College in Massachusetts.

Namita Thapar

Name	Namita Thapar
Position	Executive Director of Emcure Pharmaceuticals
Education	Institute of Chartered Accountants of India, Duke’s Fuqua School of Business

Emcure Pharmaceuticals’ Executive Director and Shark Tank India investor Namita Thapar is an incredibly successful businesswoman. Her professional accomplishments are matched by her ownership of luxurious mansions, a fleet of exquisite cars, and a net worth in the crores. She finished her primary and secondary schooling at a school in Pune. Namita gave up all extracurricular activities in school to focus solely on academics. She was an excellent student who consistently ranked top in her class. Following her education, Namita enrolled in the B. Com. program at Savitribai Phule Pune University in Pune. She also pursued her ICAI chartered accountancy degree in the interim. Namita then attended Duke University’s Fuqua School of Business in Durham, North Carolina, to get an MBA.

Peyush Bansal

Name	Peyush Bansal
Position	Founder & CEO of Lenskart
Education	McGill University, Canada, IIM, Bangalore

Peyush Bansal, born in Delhi, India, began his education at Don Bosco School in New Delhi. Peyush Bansal has demonstrated his inventive energy and passion for value creation through his entrepreneurial experience. His academic aspirations led him to prestigious schools such as McGill University, where he earned a Bachelor of Electrical Engineering. He then enrolled in the Management Programme for Entrepreneurs and Family Businesses (MPEFB) at the Indian Institute of Management, Bangalore.

Amit Jain

Name	Amit Jain
Position	Co-founder and CEO of Car Dekho
Education	IIT, Delhi

Amit Jain received his early education at St. Xavier’s School in Jaipur. After finishing school, Amit passed the IIT entrance exam and was accepted into IIT Delhi in 1999.

Ritesh Agarwal

Name	Ritesh Agarwal
Position	Founder and CEO of OYO Rooms
Education	College Dropout, Sacred Heart School, and St. Johns Senior Secondary School

Ritesh attended Sacred Heart School in Rayagada, Odisha, and later graduated from St. Johns Senior Secondary School in Meerut Cantt, Uttar Pradesh, India. Then, to prepare for the IIT entrance exam, he traveled to Kota, Rajasthan. Following that, he enrolled in the Indian School of Business and Finance in Delhi’s University of London International Program in 2011 and eventually dropped out. He became the first Asian recipient of the $100,000 Thiel Fellowship grant, equivalent to Rs. 55 Lakh at the time.

Deepinder Goyal

Name	Deepinder Goyal
Position	Co-founder and CEO of Zomato
Education	IIT, Delhi

During his school years, Deepinder Goyal performed below average and had difficulty passing his classes until he reached class 8. For the first time, Deepinder placed third in the class during his first semester of study sessions in class 8 when one of his teachers provided him with a solved answer sheet. Inspired by the praise he got from his parents and professors, he decided to continue his studies henceforth diligently. After two years of improved grades, his parents moved him to D.A.V. College in Chandigarh for classes XI and XII, where he studied science.

He was able to pass the Indian Institutes of Technology, Joint Entrance Examination on his first attempt despite the difficulties he encountered throughout his academic career. He subsequently attended the Indian Institute of Technology, Delhi, to pursue an engineering degree.

Azhar Iqubal

Name	Azhar Iqubal
Position	Co-founder and CEO of Inshorts
Education	Mathematics and Computer Science, IIT Delhi (Dropped out)

Azhar Iqubal is an Indian entrepreneur who co-founded and serves as the CEO of the news app Inshorts. After completing his schooling, he began preparing for the IIT JEE. He began studying at the Indian Institute of Technology Delhi in 2009, pursuing engineering and computer science. In 2012, he left IIT to pursue his entrepreneurial dreams.

Kunal Bahl

Name	Kunal Bahl
Position	Co-founder of Snapdeal and Titan Capital
Education	B.S.E in Entrepreneurship, Operation & Information Management, Wharton B.A.S in Engineering

Kunal Bahl grew up in India and went to Delhi Public School R.K. Puram for his early education. He later studied at the University of Pennsylvania, where he joined the prestigious Jerome Fisher Program in Management and Technology. He secured two bachelor’s degrees—one in Entrepreneurship, Operations & Information Management from The Wharton School and another in Engineering from the School of Engineering and Applied Science respectively. He also completed an executive marketing program at the Kellogg School of Management to further build his business skills.

Ronnie Screwvala

Name	Ronnie Screwvala
Position	Co-founder of upGrad
Education	Sydenham College of Commerce & Economics

Ronnie Screwvala’s name is synonymous with innovation and achievement in the realm of educational technology. As the founder of upGrad, he has transformed online education in India, enabling thousands of students to advance their careers and thrive in the digital era. He completed his education at Mumbai’s Cathedral and John Connon Schools before earning his degree from Sydenham College. His father worked in the film business, instilling a passion for entertainment and media in him from an early age. Ronnie Screwvala’s parents had other plans for him. However, he still aspired to start his own business while attending university in Mumbai.

Varun Dua

Name	Varun Dua
Position	Founder and CEO of Acko
Education	MBA from Mudra Institute of Communications Ahmedabad

Varun Dua is the founder and CEO of Acko. He is also the owner of CoverFox. Having worked in the insurance industry for over a decade, Varun was responsible for technology-enabled efficient customer service and marketing analytics for primary business acquisition. He earned a commerce degree from the R. A. Podar College Of Commerce & Economics in Mumbai, Maharashtra. After graduation, he took the C.A.T. exam. Later, he earned a master’s in Strategic Marketing and Communications from Mudra Institute of Communications in Ahmedabad, Gujarat.

Viraj Bahl

Name	Viraj Bahl
Position	Founder & Managing Director of Veeba
Education	Industrial Marine Engineering at Singapore Polytechnic

Viraj Bahl is the Founder and Managing Director of Veeba (VRB Consumer Products Pvt. Ltd.), a leading consumer food brand. He will join the panel of Sharks for Shark Tank India season 4. Viraj is known for his deep understanding of the food industry. He is excited to share his knowledge and mentor entrepreneurs with great, scalable ideas.

His experience in building a successful business will help guide those looking for investments and advice. Viraj has studied Industrial Marine Engineering at Singapore Polytechnic.

Radhika Gupta

Name	Radhika Gupta
Position	Managing Director and CEO of Edelweiss Mutual Funds
Education	B.Sc in Economics

Radhika Gupta is the managing director and CEO of Edelweiss Mutual Fund, which established a mutual fund company worth Rs 1 trillion in just five years. Due to her father’s transferable employment, Radhika Gupta finished her education at various institutions across multiple nations. She graduated from Delhi Public School in India, the American International School in Abuja, Nigeria, and Marymount International School in Rome, Italy.

She later graduated from the University of Pennsylvania’s Wharton School with a B.S.E. in economics in 2005. She also finished the Jerome Fisher Program in Management and Technology.

Ashneer Grover

Name	Ashneer Grover
Position	Ex-founder and Managing Director of BharatPe
Education	B.Tech (IIT-Delhi), MBA (IIM-Ahmedabad)

Ashneer Grover is a graduate of IIM Ahmedabad and IIT Delhi. Ashneer Grover finished his schooling in Delhi. Following that, he received his B.Tech from the Indian Institute of Technology. While studying at IIT Delhi, he was chosen for a student exchange program at the National Institute of Applied Sciences, known as INSA Lyon, France. This engineering school is among the most prestigious and largest in Europe. With a €6,000 grant from the French Embassy, he relocated to INSA Lyon in 2002. Grover then attended the Indian Institute of Management, Ahmedabad in 2004 to pursue an MBA in finance and graduated in the year 2006.

Ghazal Alagh

Name	Ghazal Alagh
Position	Co-founder and Chief Mama of Mamaearth
Education	BCA, Punjab University

Ghazal Alagh is an Indian businesswoman and the Chief Mama of Mamaearth, a natural, toxins-free cosmetics brand. Ghazal Alagh graduated from Punjab University with a Bachelor of Science in Computer Applications. 2013 she completed a Summer Intensive Course in Modern Art in Design and Applied Arts. She also completed a rigorous figurative painting course at the New York Academy of Art that same year.

Vikas D Nahar

Name	Vikas D Nahar
Position	Co-founder and CEO of Happilo
Education	Bangalore University, Symbiosis Centre for Management & Human Resource Development, Pune

Co-founder and CEO of Happilo, Vikas D. Nahar is a Special Guest Judge on Shark Tank India. Nahar hails from a farming family that produces coffee and pepper. After completing his schooling in Bangalore, he attended Bangalore University to acquire a Bachelor’s in Computer Applications in 2005. After that, he completed his MBA in marketing at Pune, Maharashtra’s Symbiosis Centre for Management & Human Resource Development (SCMHRD).

Conclusion

In conclusion, the judges of Shark Tank India have a variety of educational backgrounds, which emphasizes the value of interdisciplinary knowledge and practical experience in the business world. Each judge contributes a distinct viewpoint influenced by their academic journey, drawing from famous institutions such as IITs and IIMs as well as international universities and specialized programs.

FAQs

Who is Aman Gupta?

Aman Gupta is the co-founder and Chief Marketing officer of the company boAt.

What is the education of Peyush Bansal?

Peyush Bansal began his education at Don Bosco School in New Delhi. His academic aspirations led him to prestigious schools such as McGill University, where he earned a Bachelor of Electrical Engineering. He then enrolled in the Management Programme for Entrepreneurs and Family Businesses (MPEFB) at the Indian Institute of Management, Bangalore.

Who is Vineeta Singh?

Vineeta Singh is the co-founder and CEO of Sugar Cosmetics.

What is Shark Tank India?

Shark Tank India is a platform that provides opportunities to new entrepreneurs who will be able to entice the sharks with their ideas. The Sharks will invest in those businesses that they will find suitable.

December 24, 2024

OYO Founder Ritesh Agarwal’s ‘7-Day Startup Challenge’ Rewards Emerging Innovators
- Challenge organized in partnership with Nas.io and Back To Back SWE
- Five startups awarded Rs 10 lakh equity-free grant
- Founders get chance to directly interact with Agarwal and seek feedback
16^thSeptember 2024, New Delhi: Ritesh Agarwal, founder & group CEO of travel-tech company OYO, recently joined forces with global influencer Nuseir Yassin’s (popularly known as NAS) creator platform NAS.io and online learning portal Back To Back SWE for the 7-Day Startup Challenge, a program designed to guide early-stage startups through the foundational steps of building and refining a business idea, with Agarwal awarding a Rs 10 lakh equity-free grant to five winners.

The challenge attracted nearly 3,000 participants from around the world, including India, the US, Canada, and the UAE. The event, which was hosted on NAS.io, revolved around seven distinct daily themes, each covering a crucial aspect of business development, ranging from goal setting and market research to product roadmap and branding.

The five winners included Bharat Anubhav, an Odisha-based company building a marketplace for certified tourist guides; Ekogalaxy, a climate education platform; Harmony Sourcing, which is helping global buyers connect with factories in India; Farmkrate, an agricultural solutions startup in Andhra Pradesh; and Aura, a mental wellbeing initiative out of Bengaluru.

Over the years, several people have helped me in my entrepreneurial journey. I feel it is only fitting that I return the favour to the next generation of entrepreneurs by sharing my experience. NAS.io, with its large network of aspiring startup founders, and BackToBackSWE, which offers comprehensive mentorship programs, were ideal partners for such an initiative, said Agarwal.

Ritesh Agarwal also shared his thoughts on the challenge on Twitter:

I recently teamed up with @Nascommunities & @backtobackswe to help budding entrepreneurs with the foundational steps of building and refining their business ideas in a 7 day challenge.

From drafting a business plan to creating a financial model to getting product market fit, we…

— Ritesh Agarwal (@riteshagar) September 13, 2024

“This program will hopefully not only equip them with essential business skills but also foster a spirit of innovation and community. India is in the throes of a startup revolution, with young founders solving real-world problems. With the right support, startups can power the next wave of economic growth.”

Roshan Paul, co-founder at Aura, one of the winners, added: “The simple, step-by-step approach made it easy to refine our idea, and the support we received from the community members was invaluable. Competing with so many talented participants made this a rewarding experience.”

Agarwal is also mentoring startups through his stint at the reality TV series Shark Tank India, where he made his debut during the third season earlier this year, becoming the youngest judge on the show. Last year, he announced an equity-free grant of Rs 5 lakh each to four startups from Ladakh in partnership with the Naropa Fellowship.

About OYO

OYO is a global platform that aims to empower entrepreneurs and small businesses with hotels and homes by providing full-stack technology products and services that aim to increase revenue and ease operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate over 175K hotels and home storefronts in more than 35 countries including India, Europe, and Southeast Asia. For more information, visit www.oyorooms.com.

OYO Success Story | Founder | Business Model | Funding

The growth of OYO is incredible and the story of its founder is truly inspiring. Know about OYO startup story, history, founder, revenue, funding, & more.

StartupTalkyBharath
September 16, 2024

Ritesh Agarwal’s Journey From Oravel to OYO

Ritesh Agarwal, the visionary entrepreneur behind OYO, has become a trailblazer in the hospitality industry, changing how people view and experience budget accommodations worldwide. From a small-town dreamer to the head of one of the world’s fastest-growing hospitality chains, his journey speaks to his persistence, strategic thinking, and steadfast belief in his vision. He started with Oravel Stays in 2012, a platform for budget accommodations, and in 2013, he conceptualized OYO Rooms, transforming the hospitality landscape.

OYO, short for ‘On Your Own,’ was founded with a mission to offer standardized and affordable accommodations. Agarwal’s deep understanding of the challenges in budget lodging, combined with his innovative approach, propelled OYO’s rapid growth. The platform provided a range of budget hotels, guesthouses, and homes, each subject to strict quality checks to ensure a consistent and comfortable stay. This commitment to quality, along with Agarwal’s relentless drive, attracted attention and investments.

Under Agarwal’s leadership, OYO expanded not only in India but globally. The company’s aggressive expansion involved strategic partnerships, acquisitions, and a robust technological infrastructure. By using technology to streamline operations, improve customer experiences, and support hotel partners, OYO disrupted traditional hospitality models. Agarwal’s ability to navigate challenges and adapt when necessary played a key role in OYO’s remarkable success.

Beyond business, Agarwal is known for his leadership style marked by innovation, adaptability, and a strong commitment to social impact. His efforts to empower small hotel owners have transformed the hospitality sector and created economic opportunities in various communities.

As a young and dynamic entrepreneur, Ritesh Agarwal continues to inspire aspiring business leaders globally. His story illustrates that with a compelling vision, determination, and readiness to embrace change, one can overcome obstacles and reshape industries.

Ritesh Agarwal – Biography

Name	Ritesh Agarwal
Birthplace	Bissam, Cuttack. Odisha
Born	16 November, 1993
Education	College Dropout, Sacred Heart School, and St. Johns Senior Secondary School
Nationality	Indian
Position	Founder and CEO, OYO Rooms
Net worth	$2 billion

Ritesh Agarwal – Personal Life
Ritesh Agarwal – Early Life
Ritesh Agarwal – Career
Ritesh Agarwal – OYO Rooms
Ritesh Agarwal – Journey so Far
Ritesh Agarwal – Shark Tank India
Ritesh Agarwal – Investments
Ritesh Agarwal – Philanthropy
Ritesh Agarwal – Controversies
Ritesh Agarwal – Awards and Recognition

Ritesh Agarwal – Personal Life

Ritesh Agarwal was born into a Marwari family in Bissam Cuttack, Odisha, and grew up in Titilagarh. His family operated a small shop in Rayagada, Odisha. He completed his education at Sacred Heart School and later at St. Johns Senior Secondary School. In 2011, he relocated to Delhi for college.

On March 7, 2023, Agarwal married Geetansha Sood, a native of Lucknow. Unfortunately, just three days after their wedding, Agarwal’s father passed away, which came as a shock.

Ritesh Agarwal – Early Life

Ritesh Agarwal initiated his entrepreneurial journey at the young age of 13 by selling SIM cards. Despite his father’s aspirations for him to become an engineer, Agarwal had different plans. In pursuit of his dreams, he moved to Delhi during 10th grade to prepare for the IIT-JEE entrance exam. During this period, he began selling SIM cards, not only to develop business skills but also to financially support himself independently. Despite enrolling in an engineering college, he made a daring choice to drop out and venture into entrepreneurship.

In 2013, at the age of 19, he earned a spot in the prestigious Thiel Fellowship initiated by Peter Thiel, receiving a $100,000 grant to materialize his ideas. Utilizing this opportunity, he launched Oravel Stays in September 2012, a budget accommodation portal similar to Airbnb, marking the commencement of his journey in the hospitality industry.

The success of Oravel Stays paved the way for the establishment of OYO Rooms in May 2013. This ground-breaking hotel network rapidly gained popularity, providing affordable and standardized accommodations throughout India. Agarwal’s commitment and innovative approaches attracted substantial funding, with the company securing $1 billion by September 2018. Through the visionary entrepreneur’s leadership, OYO Rooms expanded its reach to 154 cities in India, becoming the largest hotel network in the country.

Ritesh Agarwal – Career

OYO Rooms is identified as a potential future unicorn in a study by CB Insights, as reported in The New York Times. The company has secured a total funding of $125 million through four rounds from seven investors. Ritesh Agarwal, the founder, has received numerous awards, including the Business World Young Entrepreneur Award, acknowledging his notable contributions. He is a frequent speaker at entrepreneurial events globally and holds a fellowship with the Thiel Foundation.

Ritesh Agarwal – OYO Rooms

Ritesh Agarwal, a college dropout, stands as the wealthiest self-made Indian under 40, boasting a net worth of $2 billion. His remarkable journey from a modest background to the forefront of the hospitality industry underscores his resolute determination and entrepreneurial drive.

OYO Rooms’ success transcended national borders. In 2016, Agarwal achieved a significant milestone as the hotel chain surpassed one million check-ins and ventured into Malaysia. The subsequent year they witnessed the launch of OYO Rooms in Nepal, solidifying its footprint in South Asia. Expanding further, the company entered the UK, UAE, Dubai, China, Singapore, and Indonesia in 2018. By 2019, OYO Rooms had acquired over 330,000 rooms in 500 cities globally, showcasing Agarwal’s exceptional leadership and expansion prowess.

Ritesh Agarwal – Journey so Far

Under the leadership of Agarwal, OYO, the hospitality and travel tech startup, reached a noteworthy milestone by achieving positive cash flow in the fourth quarter of the financial year 2023. As per a presentation shared with employees, the company concluded Q4FY23 with a cash flow surplus of Rs 90 crore, signaling a positive financial trajectory. This accomplishment sets OYO on a path to mark its first profitable year since its inception in 2013, with an estimated adjusted EBITDA of about Rs 245 crore for FY23.

In September 2018, the company secured $1 billion in funding. By July 2019, reports indicated that Agarwal had invested $2 billion in shares, tripling his stake in the company. In August 2020, OYO Rooms achieved a valuation of $9.6 billion after raising $5 million from tech giant Microsoft. OYO Rooms initiated the IPO filing process in October 2021.

During challenging times, OYO had to make adjustments, laying off 400 employees in December 2019 and more during the lockdown imposed in India in March 2020. Despite this, OYO remains committed to expansion, with plans in key markets such as India, China, Southeast Asia, the Middle East, and Europe.

OYO Rooms has garnered support from notable investors including SoftBank Group, Didi Chuxing, Greenoaks Capital, Sequoia India, Lightspeed India, Hero Enterprise, Airbnb, and China Lodging Group.

Ritesh Agarwal – Shark Tank India

Agarwal, the self-made billionaire and highly successful entrepreneur behind OYO Rooms, has earned the distinction of being the youngest Shark on the panel for Season 3 of Shark Tank India. He will join other accomplished Sharks such as Aman Gupta (co-founder and CMO of boAt), Amit Jain (CEO and co-founder of CarDekho Group, InsuranceDekho.com), Anupam Mittal (founder and CEO of Shaadi.com – People Group), Namita Thapar (Executive Director of Emcure Pharmaceuticals), Vineeta Singh (Co-Founder and CEO of SUGAR Cosmetics), and Peyush Bansal (founder & CEO of Lenskart.com) in the upcoming season.

Ritesh Agarwal – Investments

Ritesh Agarwal has made 22 investments. Their latest investment was Venture Round – Beyond Odds on Dec 19, 2023, when Beyond Odds raised ₹910M.

Announced Date	Organization Name	Funding Round
December 19, 2023	Beyond Odds	Venture Round
November 2, 2023	FroGo	Seed Round
January 19, 2023	The Forest Collective	Grant
January 19, 2023	Siachen Naturals	Grant
January 19, 2023	Nima Goos Goos	Grant
January 19, 2023	Ladakh Brew	Grant
November 30, 2022	Vetic	Seed Round
June 8, 2022	Pepper Content	Series A
May 8, 2022	Josh Talks	Seed Round
January 27, 2022	Growth School	Seed Round

Ritesh Agarwal – Philanthropy

During the challenging period of the coronavirus crisis, Agarwal took a proactive stance, announcing his decision to forgo his entire annual salary to support the government. In a show of solidarity, other executive leaders at OYO also voluntarily accepted pay cuts of up to 50%, contributing to building a financial runway for the company. Agarwal expressed his gratitude towards the leadership team for their collective effort during these unprecedented times.

In response to the global business challenges, OYO committed not to reduce the salaries of its employees. The company assured its workforce in India, including over ten thousand OYOpreneurs and numerous OYO-managed assets staff, that their salaries and benefits would remain uninterrupted throughout the nationwide initial 21-day lockdown.

OYO also demonstrated social responsibility by offering its hotels to various groups affected by the lockdown, including frontline medical staff, aircrew, corporates, tourists, paying guests, and stranded foreign nationals. This initiative aligned with government directives and aimed to provide support to those impacted by the pandemic.

Venturing into the healthcare sector, Agarwal has revealed plans to set up five healthcare centers dedicated to the underprivileged in Odisha, his home state. As per an official announcement, the strategic positioning of these centers is intended to address areas with restricted healthcare accessibility, effectively reducing the disparity between healthcare services and marginalized communities.

OYO Founder Ritesh Agarwal’s Speech Leaves Audience Speechless | Youngest BILLIONAIRE from India

Ritesh Agarwal – Controversies

Agarwal faces allegations of deceiving OYO’s co-founder, Manish Sinha, during the company’s early stages. Accusations suggest that Agarwal, through his company OYO, entered into agreements with U.S. hotel owners to rebrand their properties under the OYO name, promising compensation and guaranteed income. However, crucial information was omitted, OYO lacked authorization to operate a franchise business in California. In March 2019, California regulators fined OYO $200,000, and a cease and desist order was issued by Washington after discovering unauthorized offers made to hotel owners and managers.

In September 2020, Agarwal faced a case in Dera Bassi, lodged by a Chandigarh-based businessman, charging him with fraud and conspiracy under IPC 420 (cheating) and 120 B (criminal conspiracy).

An October 2019 report revealed police cases filed against OYO by hotel operators in Bangalore, Mysore, and other Karnataka cities, accusing Agarwal of fraud. Despite this, he successfully secured a stay order on one case in Bangalore.

OYO encountered opposition from 10,000 hotel owners in India who claimed that undisclosed fees, amounting to half or more of their revenues, were charged by OYO when hotels joined the platform.

Ritesh Agarwal – Awards and Recognition

In 2016, Ritesh Agarwal earned a spot in Forbes’ “30 under 30: Consumer Tech” list for his role as the founder and CEO of the innovative hospitality business and app.

Reflecting his remarkable achievements, Agarwal’s net worth in 2020 was estimated at around $1.1 billion (Rs 7253 crore). This positioned him as the youngest self-made billionaire globally, a recognition acknowledged by the Hurun Rich List.

In 2023, Agarwal achieved another milestone by becoming the youngest Shark to be featured in Shark Tank India.

FAQs

Who is Ritesh Agarwal?

Ritesh Agarwal is the founder and CEO of OYO Rooms.

What are OYO Rooms used for?

OYO rooms are popular choices for budget-conscious travelers, tourists, and individuals seeking affordable and convenient accommodations.

What is the full form of OYO?

The full form of OYO is On Your Own.

January 8, 2024

List of 16 Biggest Dropout Entrepreneurs in the World
The saying “Winners never quit, and quitters never win” is true, but it seems ironic in the case of entrepreneurs who have quit their academics to pursue their goals instead. Guess what, though? They have accomplished much more than getting good grades from school or university.

People continue to question the decisions that were made by dropouts, asking, “Will they thrive as successful contributors to society?” But trust me when I say that going from being a dropout student with nothing in their pocket to becoming one of the most successful millionaire entrepreneurs in the world has greatly increased respect for determination and commitment to one’s aims.

Biggest Dropout Entrepreneurs in the World
Bill Gates
Mark Zuckerberg
Henry Ford
Steve Jobs
Larry Ellison
Larry Page
Jan Koum
Evan Williams
Jack Dorsey
Amancio Ortega
Orji Uzor Kalu
Michael Dell
John Mackey
Azim Premji
Kunal Shah
Ritesh Agarwal

Biggest Dropout Entrepreneurs in the World

Dropping out of school or college is considered one of the biggest mistakes in one’s life. However, there are certain people who have proved this notion wrong by turning this mistake into huge achievements. The following is a list of the biggest entrepreneurs in the world, who dropped out of their education in the middle.

Bill Gates

Name Bill Gates

Net Worth $114 Billion (2022)

Source Microsoft Corporation

Dropout From Harvard University

Bill Gates

Bill Gates is known to be the inventor of the college-dropout billionaire trope in 1975 when he left Harvard to start his career in establishing Microsoft. At the age of 13, he wrote his first software program to get admission to a private Lakeside school, which revealed his affinity for programming.

Whilst at Lakeside school, Gates earned the title of National Merit Scholar, in which he scored 1590 out of 1600 on the SAT. To support his father’s dream of making him becoming a lawyer, he enrolled at Harvard as a pre-law student in 1973, and aced mathematics and computer science courses.

After dropping out of Harvard, in 1975 Gates founded ‘Microsoft’ with his friend Paul, and produced the first-of-its-kind programming language BASIC for the MITS Altair 8800 ‘Microcomputer,’ an early personal computer. He had chosen the path, which he is good at, not the path his parents wanted him to choose.

Mark Zuckerberg

Name Mark Zuckerberg

Net Worth $70 Billion (2022)

Source Meta (formerly Facebook)

Dropout From Harvard University

Mark Zuckerberg

One of the famous media magnates is the CEO of Meta Platforms- Mark Zuckerberg. He attended his schooling at Ardsley High school before transferring to Phillips Exeter Academy. He started using computer and software programming in middle school, where he built a program that connected wireless communication between his and his father’s dental office.

In 2002, Mark got into Harvard to study Psychology and Computer Science and was already known as a ‘programming prodigy’. At that time, Mark came up with a new code for his new website- Facebook, however, faced a lot of problems in establishing it, so he decided to quit Harvard in 2005 to focus on building his dream, Facebook.

Henry Ford

Name Henry Ford

Net Worth $190 billion, (1947, adjusted for inflation)

Source Ford Motor Company

Dropout From High School

Henry Ford

The automobile ruler created a revolutionary movement in transportation and the automobile industry. Ford completed his eighth grade at a one-room school and instead of attending sophomore, he enrolled in a bookkeeping course at a commercial school.

Contradictory, Ford was much more interested in building something big than sitting at a desk & bookkeeping. When he was 12 years old, that was the first time he found a purpose in his life when he witnessed the operation of a Nichols and Shepard road engine from a watch gifted by his father. In 1882 Ford returned to his family farm after working as an apprentice machinist in Detroit.

While he was working on the family farm, he became adept at operating the Westinghouse portable steam engine, whereby he completed his first gasoline car powered by a two-cylinder, four-horsepower engine and eventually built three cars in his home workshops, which was a stepping stone to the development of the renowned brand ‘Ford’.

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Steve Jobs

Name Steve Jobs

Net Worth $10.2 billion (2011)

Source Apple Inc.

Dropout From Reed College

Steve Jobs

Steve Jobs, the innovation king, was also once a problematic child during his school times, where he played a lot of pranks on teachers and never showed a slight interest in studies.

He even skipped 5th Grade and transferred straight into 6th grade at Crittenden Middle school, where he became a victim of the bully. In fact, his family moved to Los Altos and joined Homestead High school for a better life, which was surrounded by an environment of engineering families.

In 1971, Steve Jobs decided to join the electronics club with his best friend Wozniak, who got into the University of California, Berkeley. At that time, Wozniak designed a low-cost digital ‘blue box’ to manipulate the telephone network, by allowing free long-distance calls.

In 1971, Steve Jobs dropped out of Reed College after the very first semester, because he didn’t want to waste his parent’s money on an education that seemed meaningless to him and worked as a technician at Atari, Inc. in 1972. In 1976, Jobs, and fellow college dropout Steve Wozniak, built the Apple I in his parent’s garage.

Larry Ellison

Name Larry Ellison

Net Worth $91 Billion (2022)

Source Oracle Corporation

Dropout From University of Chicago

Larry Ellison

Larry Ellison was once a dropout student, but now he was listed as one of the wealthiest people on the planet by Bloomberg Billionaires Index in July 2022. Larry Ellison attended South Shore High school and later enrolled as a pre-med student at the University of Illinois in Urbana-Champaign.

At the University, he was rewarded and named ‘Science student of the year. Unexpectedly, he hadn’t appeared for his final exams as his adoptive mother passed away. In 1966, he attended the University of Chicago for one term, where he learned computer design and technology, and later dropped out of it.

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Larry Page

Name Larry Page

Net Worth $83 Billion (2022)

Source Google

Dropout From Stanford University

Larry Page

Larry Page, the co-founder of Google, found himself attracted to computers when he was 6 years old and even became the first kid in the rudimentary school to turn in an assignment from a word processor.

At the age of 12, he wanted to start a company by inventing new things and eventually developed an interest in technology and business. Larry Page was a radiant student in schooling as well as an undergrad. He did his schooling at Montessori Radmoor and East Lansing High School.

Page received a Bachelor of Science from the University of Michigan and a Master of Science from Stanford both in the field of computer science. After joining his: Ph.D. and he started his research in Computer Science at Stanford University and pursued his full-time interest in building the World Wide Web. However, in 1999 Larry couldn’t complete his Ph.D. degree and dropped out of college to focus more on his main aim.

Jan Koum

Name Jan Koum

Net Worth $13.3 Billion (2022)

Source WhatsApp

Dropout From San Jose University

Jan Koum

The co-founder of Whatsapp Jan Koum enrolled at San Jose State University because he was interested to learn to program. At the same time, he worked at Ernst & Young as a security tester. In 1997, He left his studies mid-way, because he was hired by Yahoo as an infrastructure engineer.

Evan Williams

Name Evan Williams

Net Worth $1.8 Billion (2022)

Source Twitter

Dropout From University of Nebraska

Evan Williams

In Clarks, Nebraska, Evan Williams was raised on family property. Before quitting, he spent three semesters enrolled at the University of Nebraska at Lincoln.

Williams worked as a contractor writing software for Hewlett-Packard and Intel and then also secured a position at Google. Later, he left his position at Google to start his entrepreneurial journey of establishing Twitter.

Jack Dorsey

Name Jack Dorsey

Net Worth $4.2 Billion (2022)

Source Twitter

Dropout From New York University

Jack Dorsey

A 1999 New York University dropout is the co-founder of Twitter and Square, two of the most talked-about firms in recent memory. Jack founded Twitter along with Ev Williams, Biz Stone, and Noah Glass after briefly working as a masseur and a fashion designer. At this time, Dorsey is valued around $5.6 billion.

The above graph shows the percentage of Forbes Billionaires by their educational institute type. The graph is made as per the data shared by entrepreneur.com and the study conducted by Wai & Rindermann.

Amancio Ortega

Name Amancio Ortega

Net Worth $61.6 Billion (2022)

Source Inditex

Dropout From School

Amancio Ortega

Amancio Ortega, dropped out of school at the age of 14, because his father was a railway worker and couldn’t afford much to pay. So, Amancio Ortega joined a local shirtmaker named ‘Gala’, which actually taught him how to make clothes by hand and inspired him to build one of the largest clothing retailer companies, Inditex, known for its chain of Zara and Bershka.

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Orji Uzor Kalu

Name Orji Uzor Kalu

Net Worth $1.1 Billion (2022)

Source SLOK Holding

Dropout From Nigerian University

Orji Uzor Kalu

Orji Uzor Kalu was 19 years old when he was dismissed from the Nigerian university after being found instigating a series of student riots. In order to start trading goods like rice, sugar, and palm oil, he requested $35 from his mother.

By diversifying his investments, he became a millionaire by the age of 20. He was ranked by Forbes as the 49th richest person in Africa in 2015. He originally established SLOK Holding, a West African company with profit shareholding in shipping, banking, manufacturing, etc.

Michael Dell

Name Michael Dell

Net Worth $56.1 Billion (2022)

Source Dell Technologies

Dropout From University of Texas

Michael Dell

In 1983, Michael Dell was a student at the University of Texas, although he occupied much of his energy in his college dorm room updating and hawking devices. Dell founded PCs Ltd. at the age of 19, which eventually grew into Dell Computer Corporation in 1987.

He then obtained a license from the State of Texas to submit bids for big contracts after starting to sell upgrade modules for personal computers from his hostel. At the age of 27, Michael Dell was the youngest CEO on the Fortune 500 list. He currently has a net worth of almost $20 billion.

John Mackey

Name John Mackey

Net Worth $85 Million (2022)

Source Whole Foods Market

Dropout From Texas University

John Mackey

John Mackey studied Philosophy and Theology at Texas University, Austin in 1978. Renee Lawson Hardy and he first met when he enrolled in a vegetarian co-op at the university.

The couple dropped out of school and founded SaferWay, the first vegetarian supermarket in Austin. It ultimately paved the way for Whole Foods, the 30th leading retailer in the United States measured by revenues in 2014.

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Azim Premji

Name Azim Premji

Net Worth $9 Billion (2022)

Source Wipro

Dropout From Stanford University

Azim Premji

Azim Premji is another biggest entrepreneurs on the list of dropout entrepreneurs. is the son of a very famous businessman, who is also known as the Rice king of Burma, Mohamed Hashem Premji. Azim had to drop out of his education at Stanford because he had to take care of his family’s oil business after his father’s sudden demise.

Subsequently, Azim Premji became solely responsible to look after his father’s business in India. He completed his studies to get a Bachelor of science in electronic engineering degree from Stanford University after 30 years.

Kunal Shah

Name Kunal Shah

Source CRED

Net Worth $809 Million (2022)

Dropout From Narsee Monjee Institute of Management Studies

Kunal Shah

Kunal Shah graduated from Wilson College with a Bachelor of Arts in Philosophy. He then enrolled at the Narsee Monjee Institute of Management Studies for an MBA degree, which he ultimately left. His initial business was PaisaBack, which provided kickbacks from merchants. Among many of the top college dropout Indian entrepreneurs, Kunal Shah is one of the most well-known names.

He is a founding member of FreeCharge, a reputable internet recharge service. 2012 saw the launch of the business, which Snapdeal soon bought. With its first three recharges and matching-value incentives, FreeCharge completely changed the way that internet recharges work. He is currently known best for being the founder of one of India’s unicorn startups CRED.

Ritesh Agarwal

Name Ritesh Agarwal

Net Worth $1.1 Billion (2020)

Source OYO Rooms

Dropout From Indian School of Business & Finance, New Delhi

Ritesh Agarwal

One of the youngest Indian Billionaires, Ritesh Agarwal, the founder of OYO Rooms. He was from a middle-class family. He completed his higher schooling at St. John’s Senior Secondary School and moved to New Delhi for college in 2011.

But, shortly, he quit as his project idea of Oravel stays Pvt Ltd was selected by the Thiel Fellowship program in 2013, which granted 100,000 USD, with which he launched OYO rooms.

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Conclusion

These are some of the most successful entrepreneurs who have found greatness despite not having the appropriate education. They serve as the best illustration that what you study doesn’t define you. It is your hard work and determination and passion that speaks for you.

FAQs

Who is the most successful dropout?

Bill Gates is the most successful dropout in terms of net worth. He possesses a net worth of $110.5 billion as of July 2022.

How many billionaires have no college degree?

As per the billionaire census by Wealth X (2015), about 3 out of the 10 billionaires have no proper college degree. Some of the most popular names who became successful without a proper college degree include Bill Gates, Mark Zuckerberg, Steve Jobs, Amancio Ortega, and more.

Who is a famous Harvard dropout?

Some of the famous Harvard dropouts are:
- Bill Gates
- Mark Zukerberg
- Robert Frost
- David Foster Wallace
- Matt Damon
December 26, 2022

The Current Insights and Challenges Faced by OYO Rooms

Back in 2013, a college dropout spotted the untouched opportunity in organizing India’s budget hotels while travelling through the country. His startup has reached up to 3.5x growth in revenue when it was valued at 10 Billion dollars in October 2019.

It’s easy to guess that OYO Rooms, a thriving venture by a young entrepreneur Ritesh Agarwal, is being spoken about.

The funding marks OYO’s presence as India’s most successful unicorn. OYO has successfully raised a whopping $4.1B, as of August 20, 2021. The company has marked its footprints beyond India—in China, Malaysia, Nepal, and the UK. Here’s an insight into Oyo Rooms subsidiaries, growth and the challenges faced by Oyo.

Oyo Rooms – Latest News
Oyo Rooms – Growth, Expansion and Valuation
Oyo Rooms Subsidiaries
Oyo Rooms – Funding
Challenges Faced by Oyo Rooms

Oyo Rooms – Growth, Expansion and Valuation

In 2012, Ritesh Agarwal launched Oravel Stays to enable the listing and booking of budget accommodations. After months of research and experiencing various bed and breakfast homes, guest houses, and small hotels across India, he pivoted Oravel to OYO in May 2013.

OYO partners with hotels to offer world-class guest experiences across cities. Shortly after launching Oravel Stays, Ritesh Agarwal received a grant worth $100,000 as part of the Thiel Fellowship from Peter Thiel, which greatly contributed to shaping his startup.

OYO Rooms currently houses 17,000 employees globally, of which approximately 8000 are in India and South Asia. OYO Hotels & Homes is now recognized as a full-fledged hotel chain that leases and franchises assets.

Over a span of six years, the startup expanded globally with thousands of hotels, vacation homes, and millions of rooms in hundreds of cities in India, Malaysia, UAE, Nepal, Brazil, Mexico, UK, Philippines, Japan, Saudi Arabia, Sri Lanka, Indonesia, Vietnam, the United States and more. It is even valued higher than the renowned Taj group of hotels and Oberoi hotel chain.

As per the DRHP filed by the company recently, the total income of OYO, which stood at Rs 13,413.26 crore in the previous FY20 fell by nearly 70% in FY21, standing currently at Rs 4,157.38 crore. All of these can be pointed out as the adverse effects of the pandemic, which restricted the Indians largely to their homes. However, it is important here to note that the company saw a massive 70% contraction in losses though.

The losses of Oyo became as less as Rs 3,943.8 crore in FY21 when compared to the loss of Rs 13,122.77 crore in FY20. This is due to the reason of the huge fall in the expenses of the company, which was recorded at Rs 22,800.12 crore in FY20 and came down to Rs 6,936.07 crore. The company’s expenses on employee benefits also drastically declined by 63% to Rs 1,742.12 crore in FY21, from Rs 4,765.28 crore in FY20 because of numerous layoffs.

The business that undoubtedly bore a considerable amount of the brunt of the pandemic is looking to rise again after the lockdown relaxation this year 2021. Oyo took its first step towards growth by raising funding from the American software giant, Microsoft, as part of strategic investment.

Along with Microsoft, Oyo has a set of other strategic investors, which includes Chinese ride aggregators Didi Chuxing; South-East Asian ride-hailing giant, Grab and Airbnb, American online marketplace for lodging, tourism, and homestays.

The total valuation of OYO is $9.6 Bn, as of August 20, 2021, after the company raised $5 Mn from Microsoft.

Oyo Rooms Subsidiaries

Oyo Rooms have acquired 8 companies to date. Denmark-based data science firm, Danamica was the last company that was acquired by OYO on September 2, 2019, at $10M, after which Oyo acquired Direct Booker on May 9, 2022. The Croatia-based hospitality service provider has more than 3200 homes with it and has serviced 2 mn+ customers so far. The acquisition of the Nikola Grubelic and Nino Dubretic-founded company is expected to strengthen Oyo’s presence in Europe, especially in Croatia.

Acquired	Date	Amount
Direct Booker	May 9, 2022	–
Danamica	Sep 2, 2019	$10M
Leisure Group	May 1, 2019	$415M
Qianyu Islands	March 26, 2019	–
Innov8 Coworking	March 15, 2019	$30M
Weddingz	Aug 13, 2018	–
AblePlus Solutions Pvt. Ltd.	July 10, 2018	–
Novascotia Boutique Homes	March 18, 2018	–

Oyo Rooms – Funding

Oyo has raised a funding of $3.1B in total, as of January 13, 2022. The company raised $29.72Mn in funding on January 13, 2022. Oyo previously raised an undisclosed debt financing round on December 16, 2021. The Ritesh Agarwal-led company raised its Series F round worth $5Mn on 20th August 2021, which was led by Microsoft. The company has seen 22 funding rounds to date.

Softbank Group, Lightspeed Venture partners, Airbnb, Sequoia India, Microsoft, Chinese Didi Chuxing, Garb, and more make up the lead investors’ panel for OYO.

Date	Stage	Amount	Lead Investors
January 13, 2022	Secondary Market	$29.72M	Qatar Insurance Company
August 20, 2021	Corporate Round	$5M	Microsoft
July 29, 2021	Corporate Round	–	Microsoft
July 16, 2021	Debt Financing	$660M	–
March 11, 2021	Debt Financing	$200M	Softbank Vision Fund
Jan 6, 2021	Series F	$7M	Hindustan Media Venture
Dec 10, 2019	Series F	$1.5B	Ritesh Agarwal, Softbank
Nov 30, 2019	Debt Financing	$6.73M	MyPreferred Transformation
April 1, 2019	Series E	$75M	Airbnb
Feb 14, 2019	Series E	$100M	Didi
Dec 7, 2018	Series E	$100M	Grab
Sep 25, 2018	Series E	$1B	Softbank Vision Fund

Oyo is currently eyeing an IPO soon for which the company is likely to file its Draft Red Herring Prospectus (DRHP) within the next 10 days, according to the reports dated September 23, 2021. The company is looking forward to raising around $1 Bn through its IPO round, which will consist of an offer for selling shares from the existing shareholders along with some fresh issues of shares.

Oyo has shortlisted 3 investment banks – JP Morgan, Kotak Mahindra Capital, and Citi eyeing its IPO that is to be worth over $1 billion, as per the last reports on August 9, 2021. The hotel and hospitality industry was among the most affected industries due to the strike of the Covid19 pandemic.

Now that the world is unwinding, this industry has the potential of witnessing a record recovery. This is also the reason why the software giant, Microsoft is planning to invest in this sector, and Oyo will not lose out on this opportunity of receiving the much-needed funds from Microsoft, which is why it is gearing up towards an IPO.

Furthermore, OYO has allegedly decided to proceed with a domestic IPO, however, they would also keep other options open.

Oyo has filed its Draft Red Herring Prospectus (DRHP) along with the details of its upcoming IPO round on October 1, 2021. The hospitality giant is looking to raise around Rs 8430 crores, which will be consisting of an offer for sale (OFS) of Rs 1,430 crores and a fresh issue worth 7,000 crores. SoftBank Vision Fund will offload shares worth Rs 1,328.5 crores and shall be standing as the biggest beneficiary of the OFS whereas, Global Ivy Ventures and China Lodging Holdings will be selling Rs 23.13 crores and Rs 51.62 crores worth of stakes respectively.

Oyo might raise close to Rs 1,400 crores with the help of a private placement in a pre-IPO round before the listing. This might reduce the size of its IPO to Rs 7,030 crores.

The upcoming IPO of OYO is on the back foot. This is because the Federation of Hotel & Restaurant Associations of India (FHRAI) the regulatory body of the hotels, has written to SEBI, charging the company over alleged fraudulent and unfair business practices, as reported on October 26, 2021.

Oyo was earlier charged by FHRAI for the ‘anti-competitive’ measures that the company has embraced, with the Competition Commission of India (CCI). Furthermore, FHRAI also noted that an investigation by the anti-trust body is still pending and in its advanced stages. Besides, the company has also significantly failed to disclose the information.

According to the hotel’s regulatory body, Oravel did not make a fair disclosure on the nature and consequence of the CCI-directed investigation and in turn, “has tried to confound investors by conflating irrelevant issues relating to the interim reliefs sought by RubTub Solutions Private Limited (Treebo) and Casa2Stays Private Limited (FabHotels)”

All these are reasons enough that the IPO of Ritesh Agarwal-led Oravel Stays will more likely be rejected because no past incidents where a company was under the CCI probe have been allowed to go ahead with the IPO.

Challenges Faced by Oyo Rooms

Despite the shiny, successful exterior, OYO’s reputation has been dubious soon after its founding. OYO’s work culture raises questions about the proficiency of its business, according to financial filings, court documents and interviews with 20 current and former employees along with the others familiar with the startup’s operations.

Unethical growth strategies

OYO offers rooms from unavailable hotels, those that have halted its service, according to the company’s chief executive and nine of the current and former employees. This boosts the number of rooms listed on OYO’s site.

Thousands of rooms are from unlicensed hotels and guesthouses, its executives have acknowledged.

To save the trouble from the authorities over the illegal rooms, OYO sometimes provides free stays to the police and other officials, according to nine of the current and former employees and internal WhatsApp messages, as viewed by The New York Times.”

Having a huge base of unmarried couples, a scheme involved workers at properties run directly by OYO conspiring to keep the guests checked in after they left. The workers then cleaned and resold the rooms for cash to other guests and nabbed the money, says an ex-worker.

Complaint of unpaid dues

OYO charges extra on hotels while refusing to pay the amounts to the hotels, which they claimed they were owed, according to the interviews with several hotel owners and employees, legal complaints, and emails viewed by The New York Times. Some hotel operators have filed criminal complaints against OYO, which said it retained payments. Aditya Ghosh, OYO’s head of India operations, dismissed the argument as “noise,” he said, “the disagreement is about the penalties we charge on customer service failure”.

Protests by hotel owners

Independent protests by small-scale hotel owners are surfacing up in mid-tier towns like Pune, Kota, Manali, Ahmedabad and Jaipur as well as Delhi and Bengaluru. They claim that OYO has been eluding them of their promised returns and minimum guarantees by imposing a ream of charges, often without informing them. Many of these charges are not specified in the contract between the owner and OYO.

The protestors state that OYO’s accounting and auditing process, and the penalties associated with petty faults and errors, are so heavy that they sometimes find themselves owing money to OYO at the end of the month.

Covid-19 Impact

Almost every business suffered a lot due to Covid-19, OYO was not any different. The hospitality business suffered a lot, and the occupancy rates of the hotels slow down due to all the lockdown curbs imposed by the Government. Even after the lockdown was over, people were being cautious and were avoiding travelling, so naturally, the occupancy rates were not increasing.All the restrictions created a negative impact on the revenues of the business

Conclusion

Despite the hurdles, OYO has broadened its horizons beyond the bounds of India as well as just hotels. “Anyone who’s tried to innovate and attempted creating large organizations has faced bad press; Mark Zuckerberg, Steve Jobs, Elon Musk, Bill Gates—so I think he’s in the regal company,” said Ankur Nigam, a partner at KPMG. “I don’t think it’s fair to judge whether he’s a good leader. What’s visible is that he’s managed to build a $5 billion company and nothing succeeds like success”.

Oyo happened to be one of India’s most gifted startups. It witnessed its valuation jump to $10 billion in 2019. Additionally, Ritesh Agarwal also had in his hand 30% of the profits. However, belonging to the hotel and hospitality industry, Oyo also happened to bear the brunt of the coronavirus pandemic. This is the sole reason why it saw a drop in its valuation in 2020.

The unicorn startup was valued at $8B by the Hurun Global Unicorn Report 2020. After the last funding round led by the software giant, Microsoft, Oyo’s valuation jumped $9.6 Bn, as reported on August 20, 2021. Oyo has bigger plans upcoming that the company feels too early to disclose.

It’s one thing to think of business tactics, and another to be morally wrong. OYO should realize the fact that integrity is what makes the pillars strong in the long run. If it loses its ethics in the first few successful years, it’s impossible that the company would ever be remembered for any good.

Diversification of its humble beginnings as a budget hotel chain, Oravel Stays—the entity that owns and operates the OYO brand clearly aims for the sky and has accomplished triumph in the last five years to mark its eminence.

FAQs

What is the problem with Oyo?

Oyo rooms is facing challenges like protests from hotel owners, Complaints of unpaid dues and unethical growth strategies.

Is Oyo losing money?

Although Oyo has managed to narrow its losses from ₹12,799 crores in 2020 to ₹3,929 crores in 2021. The revenue of the company has plunged rapidly during the Covid-19 pandemic.

Who are Oyo’s competitors?

OYO Rooms’s top competitors are MakeMyTrip, ClearTrip, Yatra, Treebo and Fabhotels.

May 9, 2022

Name	Bill Gates
Net Worth	$114 Billion (2022)
Source	Microsoft Corporation
Dropout From	Harvard University

Name	Mark Zuckerberg
Net Worth	$70 Billion (2022)
Source	Meta (formerly Facebook)
Dropout From	Harvard University

Name	Henry Ford
Net Worth	$190 billion, (1947, adjusted for inflation)
Source	Ford Motor Company
Dropout From	High School

Name	Steve Jobs
Net Worth	$10.2 billion (2011)
Source	Apple Inc.
Dropout From	Reed College

Name	Larry Ellison
Net Worth	$91 Billion (2022)
Source	Oracle Corporation
Dropout From	University of Chicago

Name	Larry Page
Net Worth	$83 Billion (2022)
Source	Google
Dropout From	Stanford University

Name	Jan Koum
Net Worth	$13.3 Billion (2022)
Source	WhatsApp
Dropout From	San Jose University

Name	Evan Williams
Net Worth	$1.8 Billion (2022)
Source	Twitter
Dropout From	University of Nebraska

Name	Jack Dorsey
Net Worth	$4.2 Billion (2022)
Source	Twitter
Dropout From	New York University

Name	Amancio Ortega
Net Worth	$61.6 Billion (2022)
Source	Inditex
Dropout From	School

Name	Orji Uzor Kalu
Net Worth	$1.1 Billion (2022)
Source	SLOK Holding
Dropout From	Nigerian University

Name	Michael Dell
Net Worth	$56.1 Billion (2022)
Source	Dell Technologies
Dropout From	University of Texas

Name	John Mackey
Net Worth	$85 Million (2022)
Source	Whole Foods Market
Dropout From	Texas University

Name	Azim Premji
Net Worth	$9 Billion (2022)
Source	Wipro
Dropout From	Stanford University

Name	Kunal Shah
Source	CRED
Net Worth	$809 Million (2022)
Dropout From	Narsee Monjee Institute of Management Studies

Name	Ritesh Agarwal
Net Worth	$1.1 Billion (2020)
Source	OYO Rooms
Dropout From	Indian School of Business & Finance, New Delhi

Tag: ritesh agarwal

Ritesh Agarwal

Ronnie Screwvala

Amit Jain

Deepinder Goyal

Ashneer Grover

Aman Gupta

Namita Thapar

Peyush Bansal

Azhar Iqubal

Vineeta Singh

Anupam Mittal

Ghazal Alagh

Radhika Gupta

Varun Dua

Kunal Bahl

Viraj Bahl

Mohit Yadav

Srikanth Bolla

Vikas D Nahar

Conclusion

FAQs

Who is the richest shark in Shark Tank India?

Who were the newly added Sharks in Shark Tank India Season 3?

How much do Shark Tank India judges earn per episode?

Will Deepinder Goyal return to Shark Tank India season 4?

Is there a Billionaire in Shark Tank India?

What is Aman Gupta net worth?

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Who is the newest shark in Shark Tank India season 4?

Who is Ritesh Agarwal?

List of Ritesh Agarwal Investments

FAQs

What companies has Ritesh Agarwal invested in?

Is Ritesh Agarwal a judge on Shark Tank India?

Did Ritesh Agarwal invest in JoySpoon on Shark Tank India?

Ashneer Grover

Vineeta Singh

Aman Gupta

Anupam Mittal

Namita Thapar

Ghazal Alagh

Ritesh Agarwal

Azhar Iqubal

Ronnie Screwvala

Radhika Gupta

Deepinder Goyal

Peyush Bansal

Varun Dua

Kunal Bahl

Viraj Bahl

Vikas D Nahar

FAQs

What is Shark Tank India?

Who will be the sharks in Shark Tank India?

When will Shark Tank premiere in India?

Empowering Hotel Partners

OYO’s Business and Financial Dynamics

About OYO

OYO Business Model

How OYO Makes Money | OYO Revenue Model

OYO Revenue

OYO Revenue Y-o-Y

OYO Unique Selling Proposition

OYO SWOT Analysis

OYO Strengths

OYO Weaknesses

OYO Opportunities

OYO Threats

Conclusion

FAQs

What is OYO?

How does OYO make money?

What is OYO USP?

Vineeta Singh

Aman Gupta

Anupam Mittal

Namita Thapar

Peyush Bansal

Amit Jain