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From a regular 17-year-old to the owner of a million-dollar company at the age of 22, Ritesh Agarwal's story is what fantasies are made of.
This is Softbank Vision Fund's second big investment in India after a massive USD 2.5 billion round in Flipkart, last month.
Budget hotel aggregator OYO Rooms is closing a $90-million financing round. The funding is led by its largest shareholder, SoftBank.
We are all aware of OYO rooms which is a very successful start-up. Sadly, we hardly know anything about the man behind OYO rooms.
Ritesh Agarwal, the CEO of Oyo Rooms, released a statement claiming that this 15X growth implied that the company has delivered 2.3 million booked room-night transactions in the first quarter of 2016 - this translates to more than 766,000 rooms a month.
The teenage boy – Ritesh Agarwal is the Founder & CEO of OYO Rooms – fastest growing Branded network of hotels offline & online.
According to a report shared by the OYO Rooms, SoftBank-backed budget hotel room aggregator OYO Rooms said it has attained profitability at an aggregate level, which means, on an average, they are making profit on every room sold.