OYO CEO Ritesh Agarwal reveals he didn’t know how to read a balance sheet

Ritesh Agarwal, OYO's founder and CEO said, he had no clue how to read or interpret a balance sheet when he started the company.

By  Storyboard18Feb 24, 2024 6:43 AM
OYO CEO Ritesh Agarwal reveals he didn’t know how to read a balance sheet
Ritesh Agarwal, the founder of OYO, recently discussed allegations regarding delays in payment of funds to winning pitchers on Shark Tank India. (Image sourced via Forbes India)

Ritesh Agarwal, the founder and CEO of OYO Rooms, confessed that he struggled to read or decipher a balance sheet when he started the company. The Shark Tank India judge praised the popular business reality show for simplifying fundamental business concepts for its audience to understand easily.

"Amidst all the fun on Shark Tank, what the show does really well is touch upon some of the most fundamental concepts of business and entrepreneurship in a simple manner. When I started OYO, I had no clue how to read or interpret a balance sheet," the ‘shark’ conveyed on X. "I am glad to see Shark Tank India taking these conversations mainstream."

Ritesh Agarwal, the founder of OYO, recently discussed allegations regarding delays in payment of funds to winning pitchers on Shark Tank India. In an interview with Hindustan Times, he expressed his goal of enhancing transparency in investments made through the show.

Agarwal further explained that it's crucial to ensure thorough documentation regarding our investments. Whether due to entrepreneurs shifting priorities or financial projections evolving, our aim is transparent communication. His role is to enhance transparency in startup investments, fostering greater enthusiasm among founders.

First Published on Feb 24, 2024 6:43 AM

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