OYO- for sure, everyone must have listened to its name or stayed at this famous hotel. But do you know who the famous personality is behind the foundation of this venture? It’s Ritesh Agarwal, one of the inspirational entrepreneurs and the second-youngest billionaire.
Ritesh Agarwal was born in Bissam Cuttack, Odisha, in India. However, he grew up in Titlagarh and owned a small shop in South Orissa. At a very young age, he worked as a part-time SIM cards seller. Later, he went to Delhi to pursue higher education. However, he soon discontinued starting a new venture. He received the esteemed Thiel Fellowship for young entrepreneurs for his concrete vision and vital mission. Since then, his life has changed! wanted to start budget-friendly accommodations across the country; namely, Oravel Stays. This ideal has won him the prestigious Thiel Fellowship with a grant of $100,000. He later launched OYO in 2013 May. Within five years, OYO reaped over $1 billion. From then, Agarwal didn’t look back. Later, he tripled the stake, which gave him more profits. As of February 2022, he’s the second-youngest billionaire listed in Forbes under 30 list for Asia
Roshni K T,
S5 taxation
(2020-23)
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