Imagine being 19 years old and deciding you’re going to revolutionize the hospitality industry. Sounds like a Netflix show, right? Well, Ritesh Agarwal lived it. He founded OYO Rooms in 2012, starting from scratch and now operating in Asia, Europe, and the Americas. If OYO were a meme, it’d be the “glow-up” everyone talks about. From a budget hotel aggregator to a multinational hospitality giant, OYO’s journey has been anything but ordinary.
Let’s know OYO Net Worth and its story.
The Origin Story: OYO’s Humble Beginnings
Picture this: It’s 2012, and a young Ritesh Agarwal launches Oravel Stays in Gurgaon, Haryana. Think of it as Airbnb for budget travelers. But by 2013, Agarwal pivoted to something bolder—OYO, short for “On Your Own,” aiming to standardize budget hotel experiences across India. A $100,000 grant from Peter Thiel’s Fellowship gave him the boost to dream bigger. By 2020, OYO wasn’t just in India; it had spread to 800 cities across 80 countries, with over 43,000 properties.
The Money Section:
Speaking of glow-ups, let’s talk money.
- Net Worth: By 2024, OYO’s valuation stands at a cool $2.5 billion, though down from a peak of $10 billion in 2019. Blame the market, not the hustle.
- Revenue: For FY24, OYO reported ₹5,388 crore (around $650 million).
- Net Income: Finally, some profit! OYO made ₹229 crore ($27 million) in FY24.
- Key Stakeholders: SoftBank owns 46.62%, while our Gen-Z icon Ritesh Agarwal holds 33.15%.
If OYO were a Spotify playlist, it’d include tracks like “Started from the Bottom” and “Mo Money, Mo Problems.”
The Hustle Chronicles
Let’s rewind to OYO’s journey through mergers, acquisitions, and cash burns:
- 2016: Acquired Qlik Pass, forming a data science dream team.
- 2018: Snagged Novascotia Boutique Homes and Weddingz.in, entering the wedding biz.
- 2019: Made major moves, like acquiring Amsterdam-based @Leisure Group and launching a partnership with Airbnb. Oh, and they bought the Hooters Casino Hotel in Vegas for a casual $135 million.
- 2024: Purchased Motel 6 and Studio 6 from Blackstone for $525 million, marking a big splash in the U.S.
Clearly, OYO is like that one friend who’s always multitasking—planning weddings, managing rentals, and hanging out in Vegas.
The Drama Department
Every Bollywood-worthy success story needs its share of drama:
- Zo Rooms Deal: OYO’s acquisition of Zo Rooms in 2015 turned into a messy legal battle, with accusations flying like popcorn in a microwave.
- Privacy Concerns: In 2019, OYO’s real-time data sharing with the government sparked privacy debates. Gen Z: “That’s a no from us, dawg.”
- Insolvency Petitions: OYO faced insolvency claims in 2021, but like a true protagonist, it emerged victorious.
Okay, you’re not booking hotels daily, but OYO’s success story has serious “main character energy.” It’s about hustling, pivoting, and leveling up even when the odds are against you.
Funding: Who’s Bankrolling?
OYO has been throwing funding parties since 2018:
- 2018: Raised $1 billion, with SoftBank leading the charge.
- 2019: Ritesh doubled down, buying shares to increase his stake to 30%, valuing OYO at $10 billion.
- 2021: Closed a debt financing round of $660 million and partnered with Microsoft.
- 2024: Secured $125 million in a funding round, showing the world it’s still got game.
If OYO’s funding journey were a TikTok, it’d be the one with the “sheesh” sound effect.
Product Portfolio: More Than Just Hotels
OYO isn’t just about rooms—it’s a buffet of services:
- OYO Townhouse: Midscale hotels with a chic vibe.
- OYO Home: Fully managed private homes.
- Palette Resorts: Upscale leisure properties.
- SilverKey: Hotels for corporate folks.
- OYO LIFE: Long-term rentals for city dwellers.
Basically, if your vibe is “cozy AF” or “corporate chic,” OYO has you covered.
The Criticisms:
Of course, not everyone’s a fan. OYOs faced allegations of:
- Predatory Pricing: Critics say OYO undercuts competition, then changes terms with hotels.
- Mass Job Offers: They’ve sent unsolicited job offers to rival employees. Bold or shady? You decide.
- Customer Data Concerns: Real-time data sharing made some people yell “Big Brother vibes.”
Even heroes have haters, right?
The Legacy: OYO Net Worth
From being a 2012 start-up in Gurgaon to a global hospitality powerhouse, OYO’s story is a crash course in entrepreneurship. Whether it’s bouncing back from losses or making bold acquisitions, OYO keeps the grind alive.
FAQs
- What is OYO’s current valuation?
As of 2024, OYO is valued at $2.5 billion. - Who owns OYO?
SoftBank holds 46.62%, while Ritesh Agarwal owns 33.15%. - Is OYO profitable now?
Yes, OYO reported ₹229 crore ($27 million) in net income for FY24. - When was OYO founded?
OYO was founded in 2012 by Ritesh Agarwal. - What’s OYO’s biggest acquisition?
Its 2024 purchase of Motel 6 and Studio 6 for $525 million.
Whether you’re here for the hustle, the drama, or the memes, OYO’s story is one for the books. Keep grinding, and who knows? Maybe you’ll create the next OYO.
READ MORE BLOGS ABOUT BUSINESSMEN NET WORTHS:
- Bhavish Aggarwal Net Worth
- Ashneer Grover Net Worth
- Nikhil Kamath Net Worth
- Deepinder Goyal Net Worth
