Ritesh Agarwal, the visionary founder of OYO Rooms, has made history by becoming the youngest member of the esteemed panel on Shark Tank India Season 3. Joining a stellar lineup of entrepreneurs and investors, including Aman Gupta, Amit Jain, Anupam Mittal, Namita Thapar, Vineeta Singh, and Peyush Bansal, Agarwal's presence adds a new dynamic to the upcoming season.
As a self-made billionaire and one of India's most accomplished entrepreneurs, Ritesh Agarwal forged his path to success by establishing OYO Rooms in 2013 at the tender age of 19. Today, OYO Rooms stands as one of the world's largest hotel chains, with a staggering presence encompassing over 1.5 million rooms across more than 80 countries.
The news of Agarwal's participation in Shark Tank India Season 3 quickly went viral, generating immense excitement across social media platforms. SET India, the broadcaster of the show, unveiled a captivating video revealing the Sharks in their iconic chairs, culminating in the introduction of the latest addition, Ritesh Agarwal. The video, shared under the title "Shark Reveal! Welcoming our new Shark Ritesh Agarwal, Founder and CEO of OYO Rooms, to Shark Tank India. Stay tuned for more exciting updates! #SharkTankIndia season 3 streaming soon on Sony LIV," left fans eagerly anticipating the season's premiere.
Hailing from a Marwari family, the 29-year-old Agarwal has left an indelible mark as the visionary founder and CEO of OYO Rooms, a globally renowned hospitality brand. His entrepreneurial journey commenced with the launch of Oravel Stays, a budget accommodation portal catering to cost-conscious travelers.
In a serendipitous turn of events, Oravel Stays secured a spot in an accelerator program by Venture Nursery in 2012, setting the stage for Agarwal's future ventures. An impressive victory at the 2013 Thiel Fellowship program awarded him a substantial grant of $100,000, providing the crucial financial backing for his foray into a broader landscape. In May 2013, Agarwal unveiled OYO Rooms, forever altering the hospitality industry's landscape.
Under Agarwal's leadership, OYO Rooms secured a staggering $1 billion in funding. However, in a remarkable twist, in July 2019, the entrepreneur personally invested a staggering $2 billion to acquire shares in his own company. By 2020, Ritesh Agarwal's name proudly graced the prestigious Hurun Rich List, with an estimated net worth of approximately $1.1 billion (Rs 7253 crore).
Shark Tank India is the Indian rendition of the acclaimed American television show Shark Tank. The show revolves around entrepreneurs presenting their business propositions to a panel of seasoned investors or "sharks" who decide whether to invest in their ventures. The first season aired from December 2021 to February 2022, followed by the second season from January 2023 to March 2023, paving the way for an eagerly awaited Season 3.
