On Wednesday, Mumbai-based online realty platform Housing.com issued a press statement saying that their Board of Directors have unanimously fired Rahul Yadav, co-founder of the company on account of his behaviour towards investors, ecosystems and the media.
According to the statement, Yadav will no longer be an employee of Housing and will not be associated with the company in any manner. The statement said, “The Board believed that his behaviour is not befitting of a CEO and is detrimental to the company, known for its innovative approach to product development, market expansion and brand building. The company is on a search for an interim CEO and a transition plan is out in place. The current senior executives of Housing will continue to run the operations on a daily basis, and ensure its continued smooth functioning.” At the end of the statement, the Board thanked him for his contributions and also wished him luck for his future endeavours.
On Tuesday, there were some reports that Quikr.com is looking to acquire Housing.com. Post which, there was an email leak from Yadav’s id to his employees which has been doing rounds on social media, which said, ‘Times Group is writing some story that Housing is sold to some other company. After Times Group’s buzz, dozens of other media journalists also started contacting us for the story. So to have fun, to 50% journalists, I have replied No, and to the other 50% a Yes. He hoped to see a cocktail of news in the morning’.
Post the company’s official statement about Yadav being fired, social media was buzzing with news about him. By late Wednesday evening, Rahul Yadav was trending on Twitter with more than 3,000 tweets.
Here is an excerpt of few conversations on Twitter:
Yadav has been in the middle of controversy right after he had resigned in May, writing a scathing resignation letter to the Housing.com board members and investors, criticising their ‘intellectual capability’. Later, he withdrew his resignation and apologised to the members as well. He was once again in the limelight for his antics, when he announced that he will give away all his Rs 200 crore worth of shares to employees.