Ritesh Agarwal News

Ritesh’s journey as an entrepreneur is no secret. But there is a lot more to the man than what the headlines have managed to capture over the years. A street food junkie, who is also a fitness freak, a workaholic who believes in having a life beyond work. The Oyo founder, who celebrated his 30th birthday this November has a business that spans 35 countries but continues to remain a small-town boy at heart. On this episode of Rollin’ With The Boss, he opens up like never before. From discussing deeply personal things like life after marriage to his opinions on important social and economic issues to all things business including Oyo’s IPO plans. Join us on the maiden ride of Rollin’ With The Boss - the show which features free-wheeling intimate conversations around perseverance, resilience and ambition with India’s young business icons with show’s host Abhishek Singh, Deputy Editor, Mint.

Mint is all set to launch a brand new off-beat show this month. Rollin’ With The Boss is a series of quirky, candid, authentic, and fun conversations with young CEOs and founders recorded in the backseat of a car, which doubles up as a quiet stage for the interview while zipping through city traffic. In the first episode, Abhishek Singh, Deputy Editor, Mint speaks to the Founder and Group CEO of Oyorooms, Ritesh Agarwal about his journey from a small town in Odisha to becoming the youngest billionaire on Shark Tank, OYO’s IPO plans and a lot more. Stay tuned. Coming soon.

The video throws light on the business model of Oyo and how it is reaching new heights of success

Oyo Rooms CEO Ritesh Agarwal had started Oyo even before he turned 20Recently, Oyo Hotels and Homes Ltd raised debt funding worth $660 million from global institutional investors,

CEO Ritesh Agarwal said the company’s focus is on getting revenue per available room to 60% to 80% of pre-pandemic levels across all market

Oyo cuts its regional presence by closing offices in provincial centers Sapporo, Sendai, Nagano, Hiroshima and Omiya at the end of June, says Ryota TanozakiIt is also looking to downsize its Tokyo headquarters, which occupy two floors in an office building

Masayoshi Son boasted that Agarwal’s Oyo Hotels & Homes was poised to overtake the biggest hotel chains in the world just a few years after its foundingToday, Oyo is freezing operations around the world and furloughing thousands of employees as it struggles to survive the coronavirus pandemic

Oyo is cutting the most jobs in China, while also firing staff in India, Japan and the US following heavy lossesThe job cuts, the heaviest by an Indian unicorn in recent years, are the latest sign of trouble at Oyo

Oyo’s decision to layoff people can be a tacit admission of the sharp course correction neededOyo is firing more than 2,000 people in India and China, among other markets

Group CEO Ritesh Agarwal said that asking some of the colleagues to move to a new career outside of Oyo has not been an ’easy decision’Oyo is doing everything it can to ensure that the outgoing colleagues receive as much assistance and support as possible through this transition, Agarwal said