Bengaluru: Rahul Yadav, the co-founder and CEO of Housing.com has been fired from his position by the Board of Directors due to his objectionable behavior towards the investors and the media. This decision was taken at a board meeting help in Mumbai wherein the investors said that Yadav’s behavior towards the investors, ecosystem and the media did not conform to his role as a CEO and thus asked him to leave the organization immediately.
The decision puts an end to the troubled relationship between the 26-year-old co-founder and the company’s investors, led by SoftBank. Yadav’s tenure as a CEO was marked by several public spats with investors and resignation threats. Recently Yadav, was in the news for misleading journalists. An email that he sent to employees was leaked in which he claimed to have given different answers to different journalists about the company being sold which he thought was ‘to have fun’ and to get a ‘cocktail of news in the morning’.
Hours after being sacked by the board, Yadav took to Facebook to express his view about the development saying, "Board: CEO title of Housing.com. Take that away then what are you? Me: A Genius Billionaire (in Rs) Philanthropist."
The departure of Yadav may smoothen the path for investors, who are looking to sell the Mumbai-based company that competes with Tiger Global backed CommonFloor, Info Edge's 99Acres, and MagicBricks. Sources also revealed that a few more senior executives could be asked to leave over the next 3-4 weeks.