Rahul Yadav, the 26-year-old former CEO of Housing.com, has been mired in controversy many times. On June 1, he was fired as the CEO of Housing.com.
Here's a key to what's happened these past few months:
- On March 6, Yadav had been involved in a social media spat with Shailendra Singh, MD of venture capitalist firm Sequoia India, accusing him of poaching Housing.com's employees. Yadav had fired off an email to Singh, which later got leaked.
- The CEO was later drawn into another controversy when he sent an internal mail to his employees saying that MagicBricks (owned by Times group) was maligning Housing.com while raising funds.
- Yadav spent Rs 100 crore on an advertisement blitzkrieg 'Look Up' that was seen by the investors as throwing away millions. He is also said to have been pushing for acquiring online subscription based real estate data and analytics platform PropEquity, which the investors were not confident of. The investors are said to have been looking for a professional CEO to replace Yadav.
- On April 30, Yadav had tendered his resignation to board members and investors accusing them of not being "intellectually capable of any discussion".
- He withdrew his resignation on May 5, apologising for his statement. The investors, however, decided to reconstitute the board with SoftBank taking control. Jonathan Bullock, SoftBank's representative, was to take control of the new 5-member board.
- Later in May, Yadav gave away his entire stake in the company - Rs 150-200 crore worth of shares - to the 2,251 employees as a gift, saying he is only 26 and "it's too early in life to get serious about money etc."
- Soon after, he challenged Ola Head Bhavish Aggarwal and Zomato's Deepinder Goyal to also give away half of their shares to employees.
- Most recently, Yadav had taken a pot shot at Infosys CEO Vishal Sikka by posting a picture of him sleeping at an airport lounge.
Housing.com was started in June 2013 by 12 IITians, including Yadav. Currently, nine of the founding members remain involved with the company, holding a combined stake of 8-9 per cent in the company.
Yadav holds a 4.5 per cent stake in the company, which was started with the aim of providing housing solutions and unifying all the other real estate players functioning in the country. "We want to unify all those and create a global platform for real estate", Yadav has said in the past.
Japan's SoftBank is the major investor in the company giving Housing.com $90 million of funding. It holds 32 per cent stake in the housing company. Besides, Nexus Venture Partners (19 per cent stake), Helion Venture Partners, Qualcomm Ventures and Falcon Edge are the other investors in it.