Ritesh Agarwal, the founder and CEO of OYO Rooms, likens his experience as an investor on "Shark Tank India" to clearing a top-tier examination. Agarwal, who joined the panel of "sharks" in Season 3, sees the show as a platform to support emerging entrepreneurs from every corner of India.
Agarwal's participation in the show highlights the evolving diversity within the Indian entrepreneurial ecosystem. He emphasizes the rise of young entrepreneurs, noting the increasing presence of under-17, 19, 20, and 22-year-olds who are building impressive businesses. Agarwal's journey from a young entrepreneur to a billionaire has inspired many, and his willingness to engage with budding business minds further cements his status as a mentor and visionary.
"Shark Tank India" features a panel of investors, or "sharks," who listen to entrepreneurs pitch their business ideas. These self-made millionaires assess the concepts and products, deciding whether to invest their money and provide mentorship. The show is the Indian adaptation of the American show "Shark Tank". Ritesh Agarwal joins other prominent figures like Peyush Bansal (Lenskart), Anupam Mittal (People Group), Namita Thapar (Emcure), and Vineeta Singh (Sugar Cosmetics) on the "Shark Tank India" panel. Season 3 of "Shark Tank India" aired on Sony LIV and Sony Entertainment Television from January 22, 2024, to March 31, 2024. Season 5 aired on Sony LIV and Sony Entertainment Television from January 5, 2026. Aditya Kulshreshth is the host for Season 5.
Agarwal's company, OYO, has achieved significant milestones. The SoftBank-backed startup was on track to report its first profitable quarter in Q2 of FY24. In an internal email, Agarwal stated that the startup would report a profit after tax of INR 16 Cr in Q2 of FY24. In FY23, OYO's adjusted gross profit margin rose to 43% of revenue, and adjusted gross profit increased by 23% to INR 2,347 Cr from INR 1,915 Cr in FY22.
Ritesh Agarwal was named among the Top 10 youngest Indian billionaires in the Hurun Rich List of India 2024, securing the sixth position with an estimated net worth of ₹1,900 crore. He was also the first resident Asian to be selected for the Thiel Fellowship, founded by PayPal co-founder Peter Thiel.
Agarwal's story began at 17 when he traveled across India and stayed in over 100 budget accommodations. He noticed a lack of affordable, quality stays in the unbranded budget hotel segment, which inspired him to create OYO. Agarwal's enterprise was accelerated through the Venture Nursery program in 2012 and won the 2013 Thiel Fellowship, receiving a US$100,000 grant. OYO Rooms launched in May 2013. By September 2018, the company had raised US$1 billion. In July 2019, Agarwal increased his stake in the company by purchasing US$2 billion in shares. He was also featured on the Forbes 30 Under 30 list for Asia.
