Housing.com staff leaving in droves to join Rahul Yadav's new venture?
Soon after Yadav was fired from the CEO post, Housing.com had also cut staff
Despite his social media antics, there's evidently no shortage of people who have faith in Rahul Yadav. And it's not just investors, even his former staff are keen on his latest venture.
According to a report in Inc 42, there has been an exodus from Housing.com, the real estate listing portal, to join the company being set up by its former CEO.
According to the report, many senior staff including chief marketing officer Pratik Seal, chief of staff, Azeem Zainulbhai, and chief design officer, Suvonil Chatterjee, have left Housing.com. Seal was taking care of the finance function at Housing.
In a Facebook post, Yadav praised Chatterjee on 6 September.
"So this guy (Suvonil Chatterjee) came as an intern/part-time at Housing. And the rest is history. No one has crossed my expectations bar till date except this guy! I remember I used to change his role to higher and higher every 3-4 months," he said.
However, Housing issued a statement saying that the senior management that was driving the firm forward was still intact.
"The Housing senior management team that will be driving the company going forward is not only very much intact but will be expanding significantly soon, as the company enters a new dynamic phase of driving efficiencies and growth." iCEO & COO Rishabh Gupta and CBO Jason Kothari said in a statement.
The Inc 42 report also said that Rahul Yadav has managed to get funding from entrepreneurs like Flipkart's Sachin and Binny Bansal and PayTM's Vijay Shekhar Sharma. Yadav also posted on his Facebook wall that he will be meeting with RIL's Mukesh Ambani, though he's not mentioned in what context.
However, it is not clear what his new venture is all about. In a post on Facebook on 15 July, Yadav had announced his comeback to the start-up space.
"I'll be back...this time with 100x.... [10x of last formula (10x)] ... 30 days to go.... Is the world ready?" he had said.
Yadav was sacked from Housing.com on 1 July after a long and bitter battle he waged against the investors in the company.
Soon after Yadav was fired from the CEO post, Housing.com had also cut staff. Media reports said the company was planning to sack about 600 workers.
The article has been modified to incorporate the statement from Housing.com
The company did not disclose the SoftBank’s increase in stake after the fresh infusion of Rs 100 crore
Housing.com CEO Rahul Yadav, the the unconventional, maverick and at time totally unpredictable, has now agreed to an 'Ask Me Anything' session with Reddit less than a week after he decided to 'gift' all his shares in the company to employees.
He was frank, witty and surprisingly polite rather than brash. Housing.CEO's Rahul Yadav's first ever AMA ( Ask me Anything) on Redit was neither controversial nor a soap opera unlike his previous gimmiks.