The exciting revelation of the latest addition to the Shark Tank India Season 3 lineup has sent ripples of anticipation through netizens. Ritesh Agarwal, the founder and CEO of OYO Rooms, is set to make his debut as a Shark on the popular business reality television series.
The curtain has risen on the newest Shark for the upcoming third season of Shark Tank India. Joining the esteemed panel of investors, which includes Anupam Mittal, Aman Gupta, Namita Thapar, Vineeta Singh, and Amit Jain, is none other than Ritesh Agarwal. The announcement of Ritesh’s inclusion in Shark Tank India Season 3 was met with a wave of excitement on social media, with the introduction video of this dynamic entrepreneur quickly going viral.
SET India, the official broadcaster of Shark Tank India, shared a video showcasing the Sharks seated in their iconic chairs, dramatically turning around to reveal the latest addition to their ranks. In their caption, they welcomed Ritesh Agarwal, the Founder and CEO of OYO Rooms, with great enthusiasm. The caption read, “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.”
But who is Ritesh Agarwal, the man behind OYO Rooms?
Born into a Marwari family, the 29-year-old Ritesh Agarwal is a visionary entrepreneur who founded and currently leads OYO Rooms. His entrepreneurial journey began with the establishment of Oravel Stays, a platform for budget hotel bookings. Oravel Stays later gained recognition when it was selected for the accelerator program by Venture Nursery in September 2012. Ritesh’s talent and potential were further acknowledged when he became one of the recipients of the 2013 Thiel Fellowship, which awarded him a grant of $100,000. In May 2013, Ritesh ventured into the world of OYO Rooms.
Media reports have highlighted OYO Rooms’ remarkable growth, with the company raising an impressive $1 billion by September 2018. In July 2019, it was reported that Agarwal personally acquired $2 billion worth of company shares. According to the Hurun Rich List 2020, Ritesh Agarwal’s estimated net worth stands at approximately $1.1 billion (₹7253 crore). On a personal note, Ritesh tied the knot with Geetansha Sood, the director of Formation Ventures Private Ltd, in March 2023.
As for Shark Tank India, the show is the Indian adaptation of the popular American series Shark Tank. It features aspiring entrepreneurs presenting their business ideas to a panel of investors or “sharks,” who then decide whether to invest in their ventures. The first season ran from December 2021 to February 2022, and the upcoming season is scheduled for January 2023 to March 2023.