Erstwhile Housing.com CEO and the "bad boy of start-ups" is back. After being unceremoniously ousted by the very company he founded and built, Rahul Yadav has been in and out of the news for some time now.
Erstwhile Housing.com CEO and the "bad boy of start-ups" is back. After being unceremoniously ousted by the very company he founded and built, Rahul Yadav has been in and out of the news for some time now.
On Friday, Yadav finally revealed some details about his new, upcoming venture. He was talking at Flipkart's annual tech event. Christened Intelligent Interfaces, the new start-up will strive to provide an interface for the Government of India, to make processes of various departments more efficient.
Interestingly, this isn't the first time that Yadav made a mention of Intelligent Interfaces. He'd mentioned it in a Facebook post back in September.
However, at that time, there was no information that the it will spin into a company.
Yadav has said that he sees great possibility of large businesses that can be created in partnerships with the government.
According to a VC Circle report, though his new company, Yadav sees the use of internet and technology tools to save cost and expedite service delivery.
He told them that he expects the first contract from a government department in the next two weeks. Sharing no details about the names involved, Yadav was quoted as saying that he has very powerful people on the board.
According to an ET report, in an attempt to cite the magnitude of change that his company may be able to bring about, Yadav said that a single simple online rental agreement can help the government save nearly Rs 2,000-3,000 crore.
While recently speaking at a Flipkart event, Yadav had revealed that he has no plans of raising funds from venture capitalists.
Investors so far
Flipkart's Sachin, Binny Bansal
Paytm's Vijay Shekhar Sharma
Micromax's Rahul Sharma
The Indian phone maker's founder is known to have made an investment in the firm too.
Mukesh Ambani
Couple of month's back, the start-up community and Yadav's ardent followers were left gripping the edge of their seats when he announced on his Facebook page that he had a meeting with none other than Reliance Industries' Mukesh Ambani. Sparks flew, and speculation was strife about Ambani's possible involvement in Yadav's new venture. However, so far, there has been no development on that front.
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