Ritesh Agarwal was raised in Titilagarh and was born into a Marwari family in Bissam Cuttack, Odisha, India. In Rayagada, Odisha, his family maintained a little store. Before relocating to Delhi in 2011 for college, he attended Sacred Heart School and afterwards St. Johns Senior Secondary School. On March 7, 2023, Agarwal wed Lucknow native Geetansha Sood.
The "Oravel Stays" Airbnb competitor was launched by Agarwal in 2011. went through the accelerator programme Venture Nursery in 2012 and later won a $100,000 Thiel Fellowship as one of the winners. In May 2013, the company debuted under the name OYO Rooms. 2018 saw the company raise $1 billion by September. According to reports, Agarwal tripled his position in the company by purchasing $2 billion worth of shares in July 2019. He was listed on Forbes' Asia's 30 Under 30 list.
OYO Rooms' founder and CEO is Ritesh Agarwal.