Ritesh Agarwal Startup's current valuation is around $9 billion. The company's valuation touches $10 billion with this fresh infusion, sources said. The valuation Oyo is targeting would be lower than the $12 billion initially reported in local media last year and probably lower than the $10 billion level the startup hit in 2019. One of the striking facts of Ritesh Agarwal is that at the age of 25 only, he had seen everything- fame, success, and money. OYO has a market valuation of $8 billion with over 10,000 hotels associated with it across 250 cities and 13 countries. Saritha Rai. With a current valuation of nearly 360Cr, OYO rooms does nothing out of the box but provides travellers the coolest yet cheapest efficient, young, standardized rooms with no add-ons attached to it! . The official changes in Oyo's ownership pattern happened after India's anti-trust regulator Competition Commission of India (CCI) gave necessary regulatory approval to Agarwal's ambitious buyback plan. The company's valuation can double to $10 Bn with this deal compared to the already existing $5 Bn. Today OYO Rooms is the world's leading chain of hotels, homes, and spaces. With a current valuation of nearly 360Cr, OYO rooms does nothing out of the box but provides travellers the coolest yet cheapest efficient, young, standardized rooms with no add-ons attached to it!. It witnessed its valuation jump to $10 billion in 2019. As a part of this round, founder Ritesh Agarwal will infuse approximately $700 million in the company as primary capital through RA Hospitality Holdings, with the balance $800 million coming from other existing investors led by SoftBank. Within just a few years, OYO surpassed the valuation of India's oldest hotel company. The 27-year-old entrepreneur, who belongs from a humble background, in Odisha, has been known as the youngest billionaire in the year 2021 in India. Bangalore: Oyo Hotels and Homes is raising $1.5 billion from founder Ritesh Agarwal, SoftBank Group Corp. and other investors as the India lodging startup expands into foreign markets such as the U.S. and Europe. He started as many as six start-ups, but they failed. Ritesh Agarwal's salary was Rs 1.62 crore in the fiscal year 2020-21. Ritesh Agarwal, founder and chief executive officer of Oyo Hotels, told employees the Indian startup is making progress in recovering from the coronavirus fallout and has about $1 billion to fund operations until an initial public offering. The company was reportedly valued at around $147 million in May 2020 and at $100 million in November 2018. The company's valuation touches $10 billion with this fresh infusion, sources said. Back then, media reports claimed that the start-up, led by 28-year-old Ritesh Agarwal, would be targeting a valuation lower than $12 billion. New Delhi: Travel tech firm Oyo founder and CEO Ritesh Agarwal reflected upon his learnings from the Covid-19 pandemic and also shared the story of building his startup, which is soon set to bring out its IPO. Career & Education - Company, University, & College OYO nowadays is the world's leading chain of hotels, homes, and spaces. Magicpin has raised the fresh capital at a post-money valuation of $165 million. Gurugram-based hospitality major Oyo is in the advanced stages of raising . . Microsoft is said to be in advanced talks to invest in Ritesh Agarwal's hotel chain OYO at a $9 billion valuation. At 25, probably the youngest entrepreneur heading a company that has a private market valuation of $5 billion "it is still Day 0," according to Agarwal as he speaks to Sandeep Soni in a . Interestingly enough, Agarwal said that he came up with the valuation of $10 Bn by comparing OYO to Netflix, Uber and Peloton. Oyo's founder, Ritesh Agarwal will be undertaking a $1.5 billion stock buyback from early investors Sequoia Capital and Lightspeed . The wealth of Ritesh Agarwal is mainly due to his stakes in India's third-biggest start-up, OYO Rooms. He has also received the Business World Young Entrepreneur Award. Ritesh Agarwal India's small towns have now become the hotbed of entrepreneurship fuelled by the aspirations of the young population and these, along with the scaling up of small businesses will play a key role in creating many unicorns in the country through the startup ecosystem, OYO Founder and Group CEO Ritesh Agarwal said on Thursday. old bexley and sidcup by-election 2021 . Unacademy has raised the fresh round at a post-money valuation of $3.44 billion, said the company in a . The man that changed the landscape of the hotel industry-Ritesh Agarwal and his brand OYO are growing with every passing day. OYO founder Ritesh Agarwal was just 18 when he came up with the idea. Image Source: Ritesh Agarwal's official Twitter handle. At age 20 he raised money from investors, at age 21 he hired 50 people, at age 22 he had 500 hotels, at age 24 he raised one billion dollars and at age 26 right now he has 46,000 hotels and built the second-largest hotel chain in the world and he's not even 30 years old. 4 Cr from Lightspeed Venture Partners (LSVP) and DSG Consumer Partners, at a pre-money valuation (valuation of a company prior to investment or financing) of Rs 14 Cr. The promoter here was spending money to keep valuations rising. Posted on July 21, 2019. The net worth of Ritesh Agarwal is $1.1 billion as of 2020. Later, it was reported that the company would aim for a valuation lower than $10 billion. The teenage boy - Ritesh Agarwal is the young Founder & CEO of OYO Rooms - fastest growing Branded network of hotels offline & online. Harsh Upadhyay August 2, 2021 News . Then came 'OYO Rooms' in existence in January 2013. Agarwal said with revenues $2.7 and $2.9 billion, Oyo's valuations made sense. The SoftBank Group-backed hospitality startup was valued at $9.6 billion after a "strategic investment" by Microsoft Corp. last month. Unacademy's valuation spikes over 70% to $3.44 Bn as it raises $440 Mn led by Temasek. Ritesh Agarwal, who founded Oyo in 2013, has built it into India's second-most valuable start-up with a valuation of about $10 billion India start-up Oyo raises $1.5 billion at $10 billion valuation South Asia Ritesh Agarwal-led start-up is targeting Oyo valuation lower than $12 billion as per the market speculations and the IPO might have a 15% retail discount for the offerings. That's, however, OYO was launching in could 2013. Oyo Hotels & Homes plans to go public in India at a valuation of $12-$15 billion, people aware of its plans told us.It is looking to raise anywhere between $1-$1.2 billion, mainly by issuing fresh shares, the sources added. Ritesh Agarwal drooped out from his college when he was 17. In 2014; the company raised Rs. Agarwal owns . Speaking at the Global Unicorn Summit Nurturing 1,000 Unicorns by . Ritesh Agarwal is an Indian entrepreneur and the founder and CEO of Oyo Rooms. When a young founder in his twenties buys back $1.5 billion worth of stock from his early investors ( 30-50x return) and pumps in another $500 million into the company at a $10 billion valuation (2x the last round), many questions are raised. For that, I would like to compliment Ritesh and the Oyo stakeholders. - September 2018 - raised $1 billion, of which the RoC filing for the amount of $100 million raised from Star Virtue Investment Ltd. was made on 13 February 2019. . The firm operates in Malaysia as well in Nepal. the valuation of the startup . Ritesh, at 17, when most of the children don't even know what to do, dropped out of the college to pursue his dream of becoming an entrepreneur. The startup . 'Many people told me multiple times go . In February 2020, Ritesh's net worth was estimated to be approximately $1.1 billion according to the Hurun Rich List 2020 and thus became the world's second-youngest self-made billionaire after the American model Kylie Jenner. Valuation: $5.5 billion . Ritesh Agarwal founded OYO in 2013. Microsoft is said to be in advanced talks to invest in Ritesh Agarwal's hotel chain OYO at a $9 billion valuation. - Founder & CEO, Ritesh Agarwal, through RA Hospitality Holdings (Cayman) in . Oyo Rooms is now valued at $10 billion after founder Ritesh Agarwal bought back shares worth $2 billion from existing investors. Agarwal, 25, will spend $700 million to buy new shares in the company as part of a previously reported $2 billion plan to triple his ownership stake. Founded by 27-year-old Ritesh Agarwal, the Gurgaon-based hospitality chain has SoftBank Group, Sequoia Capital India, and Lightspeed India Partners among its investors. Success story of Ritesh Agarwa. Speaking with Karishma Mehta, Founder and CEO of Humans of Bombay, at Times Network's India Economic Conclave 2022, Agarwal said that . However, belonging to the hotel and hospitality industry, Oyo also happened to bear the brunt of the coronavirus pandemic. Ritesh Agarwal, founder and chief executive of Oyo Rooms, one of the country's most popular unicorns—or rather decacorns (startups with $10 billion in private market valuation)—insists the . Agarwal's personal investments Ritesh Agarwal is the founder and corporate executive of OYO Hotels & Homes. The fast-growing Indian hospitality business Oyo has garnered a valuation of $10 billion after its founder, Ritesh Agarwal, purchased $2 billion in shares from venture capital firms Sequoia Capital. F rom Kashmir to Kanyakumari, travel anywhere in India and one ubiquitous sign stares out at you from billboards, hoardings on the road and nondescript buildings. According to Fintrackr's estimates, Magicpin has raised the fresh capital at a post-money valuation of $165 million (Rs 1,220-1,235 crore). OYO's valuation had soared to $10 billion in November 2019, when founder and CEO Ritesh Agarwal pumped in $2 billion into the company. But a few days back, OYO submitted a valuation report to RoC (Registrar of Companies) as part of its long-in-the-making $1.5-billion funding round. OYO's valuation reaches USD 10 billion in a year despite losses . The startup, led by 28-year-old Ritesh Agarwal, has discussed offering a discount of as much as 15 per cent on the $10 billion suggested by bankers during early discussions, the person said. The company is targeting a valuation of around $9 billion as per reports. The major boost came from the USD 700 million investment made by OYO CEO Ritesh Agarwal in October this year through RA . The latest investment takes Agarwal's stake to 30% and values OYO at $10 billion, according to a person familiar with the matter. Oyo hotels and homes was founded in 2013. its valuation, . The deal will double the company's valuation to $10 billion after the infusion. The teenage boy - Ritesh Agarwal is the young Founder & CEO of OYO Rooms - fastest growing Branded network of hotels offline & online. It's an Indian hotel brand that owns, operates and aggregates standardized hotel rooms. Gurugram-based hospitality major Oyo is in the advanced stages of raising . Ans: One such successful entrepreneur is Ritesh Agarwal - who founded OYO Rooms when he was 19 years. Speaking at the Global Unicorn Summit - Nurturing 1,000 Unicorns by 2030 -- jointly organised by CII with DPIIT, he also stressed on the need to integrate the ''very large rural mass'' of India . oyos ritesh agarwal says wework crisis changed atmosphere explains math behind 10b valuation; . Satya Nadella-run Microsoft has invested $5 million in Airbnb-backed Indian budget hotel chain OYO taking it valuation to $9 . But in the Reuters interview, Argawal dismisses the idea that he had done anything other than invest in himself and his company. At such a tender age, he has created a worth of 360 crores and the network that expands to all parts of India. About His Startup OYO. Assuming Ritesh has about 30% stake in the company, his net worth could be 2.7 to 3.6 billion USD. 56 CLAPS 212352 Ritesh Agarwal, Founder and group CEO. The seven-year-old startup, founded by 27-year-old Ritesh Agarwal, is planning to raise as much as $1.2 billion in primary and secondary sales in the IPO and is aiming for a valuation of over $12 . New Delhi: Travel tech firm Oyo founder and CEO Ritesh Agarwal reflected upon his learnings from the Covid-19 pandemic and also shared the story of building his startup, which is soon set to bring out its IPO. Incorporated in 2013 by Ritesh Agarwal as Oravel Stays Private Limited, it soon emerged as the Indian version of Airbnb of the US where people looked for their budget accommodation plans. Mirae Asset, as well as zomato Founder Deepinder Goyal and Oyo's Ritesh Agarwal too participated in the round. With the share purchase, Ritesh Agarwal, all of 25 years old, has raised his stake in his company from 9.62 percent to nearly thirty percent. snapchat. Bangalore-based startup Dukaan has raised $11 million in a new financing round with a valuation of $71 million.The one-year-old . Magicpin has raised the fresh capital at a post-money valuation of $165 million. . Unacademy's CEO Gaurav Munjal says Zomato's Deepinder Goyal and OYO's Ritesh Agarwal also participated in this round of funding, along with South Korea's Mirae Asset as new investors. The Ritesh Agarwal-led startup is likely to get go-ahead for the IPO this week or next after filing its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). After achieving a valuation of $9.6Bn in a funding round . #MoneyManagement #MoneyCoachWatch Being the richest man in 26 years || Ritesh Agarwal || Business ideas 2022 || Money CoachMoney Coach is the Youtube Chann. A . Ritesh Agarwal, founder and chief executive officer of Oyo Hotels, told employees the Indian startup is making progress in recovering from the coronavirus fallout and has about $1 . Founded by Ritesh Agarwal in 2012 when he was 19, Oyo franchises and leases budget hotel rooms pooled from independent property owners. Offline discovery and reward platform Magicpin has raised around $3 million in a new tranche led by Oyo's founder Ritesh Agarwal through his personal special purpose vehicle RA Holdings. Before OYO its name was Oravel Stays after Ritesh renamed the startup from Oravel Stays to OYO. . . Speaking with Karishma Mehta, Founder and CEO of Humans of Bombay, at Times Network's India Economic Conclave 2022, Agarwal said that . That makes it India's second . And everybody deserves a higher life. Currently OYO have 17,000 employees globally. Oyo is the world's third largest hotel chain. Ritesh Agarwal's Oyo, which has been struggling ever since the pandemic hit last year, is finally getting back on the front foot. Notable names include Ritesh Agarwal of Oyo and Carl Pei of Nothing. (Bloomberg) — Oyo Hotels and Homes is raising $1.5 billion from founder Ritesh Agarwal, SoftBank Group Corp. and other investors as the India lodging startup expands into foreign markets such as the U.S. and Europe. Ritesh Agarwal, chief executive and cofounder of budget hotel platform Oyo, is to raise his stake in the SoftBank-backed firm in a $2 billion funding deal. ritesh agarwal education. . November 12, 2020. The deal also sets a new high for Oyo's valuation, with its market . Oyo Hotels and Homes is raising $1.5 billion from founder Ritesh Agarwal, SoftBank Group Corp. and other investors as the India lodging startup expands into foreign markets such as . Existing investors will also sell parts of their holdings in the IPO but founder Ritesh Agarwal is likely to hold on to his entire stake, the sources said. Education and Career of company founder Ritesh Net Worth of $9.6B in Young age. Ritesh Agarwal has 33% of the equity. Oyo is one of the largest startups in the portfolio of SoftBank Group Corp., reaching a valuation of . The current market valuation of OYO Rooms stands at $10 billion. April 23, 2022 . The company has already amassed 515,000 rooms, making it the . But it is not as if the signs of trouble for the hotel chain have only started now. Agarwal, 25, will spend $700 million to buy new shares in the company as part of a previously reported $2 billion plan to triple his ownership stake. Additionally, Ritesh Agarwal also had in his hand 30% of the profits. OYO's valuation nears $10 billion with Microsoft's $5 million investment Advertisement Ritesh Agarwal, founder and CEO of OYO BCCL As per regulatory filings, OYO has allotted 5 equity shares and 80. As of 2022, Oyo's valuation could be estimated at 9 to 12 billion USD. In this case, the promoter, Ritesh Agarwal, chose to invest $2 billion in the middle of 2019, of which $1.3 billion was spent on buying equity held by Lightspeed Venture Partners and Sequoia Capital and $700 million was invested as part of a financing round that raised $1.5 billion. The . Indian hospitality business OYO now has a valuation of $10 billion after its founder, Ritesh Agarwal, purchased $2 billion in shares from Sequoia Capital and Lightspeed . Magicpin claims to have over 1.5 lakh merchants on the platform, serving . Bengaluru: Oyo Hotels & Homes aims to list in India at a valuation of $12-15 billion without its founder Ritesh Agarwal offloading any stake in an upcoming IPO, people aware of the company's plans said. What began as a budget hotel platform by then 21-year old . The man made a revelation in the way people used to look at the online hotel bookings. Other investors of the company are Lightspeed Venture Partners, Sequoia Capital, Star Virtue Investment (Didi), Greenoaks Capital . "We had revenues of between $2.7 and $2.9 Bn so that valuation checks. OYO Rooms is the most familiar term involved whenever a trip is planned in general. : he had written a book at his young age on Top 100 Engineer College.Oyo company founder . OYO launched in 2013 in India but has rapidly expanded to the U.K., China and most recently to mainland Europe through the acquisition of @Leisure. Offline discovery and reward platform Magicpin has raised around $3 million in a new tranche led by Oyo's founder Ritesh Agarwal through his personal special purpose vehicle RA Holdings. Ritesh Agarwal created history and world-first delf made the youngest billionaire at that time. The total valuation of all the entrepreneurs mentioned in the IIFL Wealth Hurun India 40 & Under Self-Made Rich List 2020 is INR 44,900 crore which is a staggering 59 per cent increase from last year The largest Indian franchisee of hotels, homes and living spaces plans to buyback $1.5 billion stock from Lightspeed & Sequoia. At the age of 21 years, he was established as a 360 crore valuation company. His story, full of passion and perseverance, is worth reading. . Trouble had been brewing even before the Coronavirus outbreak created a furore across the globe. He became the world's second-youngest billionaire in 2020. . Magicpin claims to have over 1.5 lakh merchants on the platform, serving . India's small towns hotbeds of entrepreneurship: OYO CEO Ritesh Agarwal "The new young India that is building their businesses, is aspiring to build sizable world champions in the consumer . . This is the sole reason why it saw a drop in its valuation in 2020. As per estimates, its losses grew sixfold to $335m in the year ending March 2019. India's small towns hotbeds of entrepreneurship: OYO CEO Ritesh Agarwal "The new young India that is building their businesses, is aspiring to build sizable world champions in the consumer . With that move, Agarwal had nearly doubled the valuation of. Bengaluru: Edtech major, Unacademy Group, has raised $440 million as a part of its latest round of funding, led by Singapore state-owned Temasek Holdings, valuing the startup at $3.44 billion. Founder and CEO Ritesh Agarwal said in July that the company . The company has also raised significant funding rounds including $1 billion led by Softbank in 2018. "We had revenues of between $2.7 and $2.9 bn, so that valuation checks out," said Agarwal. Ritesh Agarwal-led OYO has raised ₹54 crore or $7.4 million from Hindustan Media Ventures in a series F round of funding.During the COVID-19 pandemic, Agarwal . As a part of this round, founder Ritesh Agarwal will infuse approximately $700 million in the company as primary capital through RA Hospitality Holdings, with the balance $800 million coming from other existing investors led by SoftBank. Personally, Ritesh with his common-man qualities of . VALUATION - The company is currently valued at $10 billion as per the last round of funding. Take a bow! India's small towns have now become the hotbed of entrepreneurship fuelled by the aspirations of the young population and these, along with the scaling up of small businesses will play a key role in creating many unicorns in the country through the startup ecosystem, OYO Founder and Group CEO Ritesh Agarwal said on Thursday. 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