Rahul Yadav quits Housing.com, again
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Yadav, 26, who has been involved in a string of controversies, will be asked to stay on at the company and oversee product development.
"After discussions with the board, Rahul has decided to step down," said a source. "There will be a board meeting within two weeks where this will be announced. He has let individual board members know."
Rahul Yadav denied all such claims though.
Yadav, an IIT-Bombay dropout and co-founder of Housing, did not immediately reply to queries from ET. A representative for
Japan's SoftBank, and another investor Falcon Edge, had taken charge of operations at Housing after Yadav's confrontation with the board in late April and early May. In a letter announcing his resignation as CEO, Yadav questioned the intellectual prowess of the investors, who persuaded him to stay on but made him tender an apology.
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SoftBank's representative on the board, Jonathan Bullock, oversees all major decisions at the company.
Yadav has courted one controversy after another, earning him a reputation as an enfant terrible of the Indian startup industry. He started a social media spat with
The board of Housing has been on the lookout for a potential successor to Yadav for some time. Recruitment agency
Housing was founded in 2012 by a dozen college-mates from IIT-Mumbai, of whom three have left the company. Housing, which competes with CommonFloor, 99Acres, and MagicBricks, owned by the publisher of this paper, has attracted more than $120 million (Rs 760 crore) in funding and is valued at over Rs 1,500 crore.
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