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OYO Hotels & Homes was founded by Ritesh Agarwal, the first resident Asian to be accepted to the Thiel Fellowship (started by Paypal founder Peter Thiel). Travelling across India at the age of 17, Ritesh stayed in more than 100 bed and breakfasts, guest houses, and hotels to realize there was a massive dearth of affordable and good-quality hotels in the unbranded budget hotel category.