This puts a final nail in the coffin of the now-on-now-off relationship that Yadav has been having with Housing.com for the last few months.
Putting a much-needed end to the Housing.com and Rahul Yadav saga, the real estate start up has finally decided to fire the "genius billionaire philanthropist" co-founder and CEO. This puts a final nail in the coffin of the now-on-now-off relationship that Yadav has been having with Housing.com for the last few months.
The start-up company decided to take the step a few days after it was rumoured that he was fired by the board. However, in a board meeting today, the company took the final decision, stating that his "behaviour towards investors, partners and the media" as the reason for his termination. "The board believed that his behaviour is not befitting of a CEO and is detrimental to the company," an Economic Times report quoted a source in the know.
Only yesterday, an email leak revealed that Yadav had decided to play a prank on the media amid talks of Quikr taking over Housing.com. The email, written by Yadav, revealed that he had answered positively to 50% journalists, and negatively to the other 50% about the possibility of the takeover. "Hopefully, you'll have a cocktail of news in the morning," he said after.
In the past, Rahul Yadav has been party to potshots on the social media, as recently as five days back, when rumours of him resigning were afloat again, after his infamous resignation letter to the company where he called the board and investors not "intellectually capable enough". Akin to the trend, Yadav decided to take to the social media again, this time to announce the latest development. However, the manner and the statement just goes to resonate the company's reasons of sacking the IIT-Bombay dropout.
The ET report also states that Yadav was on probation since he had resigned the last time. He also said that Yadav was asked to leave when he did not meet the targets set for him. In fact, Yadav's behavior has been so unexpected in the last couple of months that the company that he formed with his batchmates in 2012 decided to call the police in case of any untowardly behaviour. However, Yadav left the premises a scene.
The real estate company is valued at Rs 1,500 crore and is now on the lookout for an interim CEO.
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