Update: In the latest twist, Housing.com board has fired Rahul Yadav, putting an end to the love-hate relationship. The board of the company cited his ‘behaviour towards investors, partners and media’ as the reason for his ouster. Not sure, whether the latest development is a part of the whole drama that had started folding last week, or just an instant reaction from the board though. But what so ever, the result is precisely the same what we told to our readers just a few days back.
This is what Rahul Yaday, just updated on his Facebook wall that indirectly sums up everything:
What? Again! Are You Serious?
I know many of you react in the same fashion after learning that Rahul Yadav, CEO – Housing.com, has resigned second time within a short span of two months. Apparently, this time his resignation will be accepted and he may be asked to move to a different role where he would take care of the development activities of Housing.com web portal and mobile app.
Rahul Yadav, a person who is known more for surrounding himself with controversies instead of his achievements and leadership skills at Housing.com, would step down to make way for yet to be designated CEO. However, despite having several differences with Rahul over multiple issues recently, the Housing.com board has asked Rahul to stay involved with the day-to-day operations by taking care of product development.
Barely six weeks earlier Rahul Yadav stirred the Internet by tendering his resignation after accusing the board members and investors of the real estate startup, Housing.com. Albeit, the resignation was later withdrawn by him within few hours after having few rounds of internal meetings and discussions with the board members.
People familiar to the matter believe that writing was on the wall since then; Despite Rahul’s U-turn on his resignation in the month of May, it became clear he is not going to run the show for a very long time. Housing.com management allowed him as CEO, but as a tiger without teeth or nails all his powers were curtailed. They also made him tender an unconditional apology.
In the last few months, Rahul have courted multiple controversies making him a hero for few and buffoon for many. His attitude of accusing and criticizing people and peers on public forums earned him a tag, ‘Funded Brat Of Indian Startup Industry’”.
Rahul first hit the limelight when Housing.com raised whopping $90 million in December 2014. Within few months, Rahul started a social media spat with Shailendra Singh, Directors of Venture Capital firm Sequoia Capital. Later Rahul shocked the Indian startup world by announcing his decision to give away all his shares in the Housing.com to its employees. If that was not enough, He further challenged CEO of Zomato and a few other entrepreneurs to follow the same path. However, this brashness didn’t go down well with the investors and entrepreneur community.
Quite recently, Rahul Yadav posted an image of Infosys CEO Vishal Sikka, who reportedly refused to participate in a discussion with Rahul while at an airport.
The departure of Rahul Yadav as CEO is apparently final this time because the board has already employed recruitment agency Spencer and Stuart to look for the successor of Rahul.
Rahul Yadav, probably you would be known as Founder CEO with the shortest tenure in the Indian entrepreneur industry, ever.
Update: When ET contacted Rahul Yadav to confirm the news, he smartly replied saying that he has not left the company. However, he didn’t say anything about stepping down from the position of CEO of Housing.com.
Update 2: To clear the ambiguity, we have reached out to Rahul and have asked the straight question about his current position in the company. We are yet to receive any reply from him.