Yadav was sacked from the very startup he co-founded after he called Housing’s Board members intellectually incapable
Rahul Yadav, Co-founder and former CEO of Indian realty portal Housing.com, has joined Anarock Property Consultants, a newly-launched real estate brokerage, investment and fund platform in Mumbai, as its Chief Product and Technology Officer, according to a report by The Economic Times.
In this role, Yadav will develop an online brokerage platform for Anarock, promoted by Indian real-estate industry stalwart Anuj Puri, that would eventually attract international investments. According to ET, the firm is targeting a total portfolio value of US$500 million for its fund business by 2020.
Yadav will assume his role this week and will be working from Anarock’s Mumbai offices, said the report.
“I consider my appointment as Chief Product & Technology Officer at Anarock Property Consultants the logical next step in my career, and it is of course a complete privilege to work with an outstanding industry leader like Anuj Puri,” said Yadav.
Rahul Yadav is quite a famous (rather notorious) name in the Indian startup scene. He was mired in several controversies as CEO of Housing, which he co-founded in 2012 with a group of IIT dropouts. Until recently, Housing was the hottest startup in the realty space, which is backed by the likes of DST’s Yuri Milner and Japanese Internet giant SoftBank.
In January this year, Housing merged with PropTiger.com, another leading player in this industry funded by London-headquartered News Corp. The merger was forced on Housing after its brand name took a beating following numerous controversies involving Yadav.
It all started with Yadav’s nasty email to Sequoia Capital MD Shailendra Singh over poaching of employees, in mid-2015. This led to his resignation as CEO. Just before putting in his papers, he sent a mail to the Board saying the members are “not intellectually capable enough to have any sensible discussion”. Yadav was eventually sacked from the company for his “behaviour not befitting a CEO”.
After a few months, he started a new venture called Intelligent Interfaces and raised money from a few individuals including Flipkart Co-founders Sachin Bansal and Binny Bansal, and ace cricketer Yuvraj Singh. However, the startup failed to take off and eventually shut down.
Yadav’s departure from Housing, which has so far raised about US$150 million in venture funding, was followed by a number of his co-founders leaving the firm to start their own ventures.
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