Putting an end to the resignation drama, Rahul Yadav, CEO of online real estate start-up Housing.com has withdrawn his resignation on Tuesday evening.
An email statement from the company, quoting Rahul Yadav stated “After some frank and healthy discussions with the Board I have agreed to withdraw my resignation and I apologize for my unacceptable comments about the board members. I look forward to staying on at Housing as CEO and building an even greater company, while working in full harmony with the board.”
Further, in the mail, the company said, “Today the Housing board met, and has been reconstituted to include all main shareholder representatives. After some good conversations the board has reaffirmed its faith in Rahul Yadav's vision at Housing.”
Housing.com is an online start-up founded by Mr. Yadav and 11 other IITians to address the real estate needs of the consumers using technology. The company is considered as one of the promising real estate start-up in the country. The company became real hot in the industry after the investment from Japanese major SoftBank. SoftBank along with other investors had led an investment of $90 million in December last.
Earlier, on April 30 Mr. Yadav resigned from the post of CEO, chairman and a member of the board of Housing.com by mailing a resignation letter to board members and investors. According to reports in his letter he questioned the “intellectual capability.”
In March, Mr. Yadav had a spat with VC-firm Sequoia Capital’s Managing Director Shailendra Singh through a letter which was published in Quora. He had accused of Sequoia poaching staff from Housing.com.
“In the relatively short period of its existence, Housing has revolutionized the real estate market in India and it continues to lead and disrupt with world class product innovations,” the company said.
In April, SoftBank’s Vice-Chairman Nikesh Arora who was on the board of Housing.com had resigned.
