housing.com is a Mumbai-based real estate search portal which allows customers to search for housing based on geography, number of rooms, and various other filters. The company has 6,000 brokers and serves 40 cities in India including Mumbai, Bangalore, Kolkata and Delhi.
housing.com has been in the news for a quite long time. So why is it? Let us find out the reasons.
IIT-B gold rush with an interesting flashback:
Housing dot com is a brain child of twelve IIT Bombay students though only nine of them exist in the company now.
- Rahul, the CEO of housing.com along with few others came down to Mumbai for further studies in IIT B and had a hard time finding an accommodation.
- They spent a month on the roads of Mumbai searching for a decent accommodation but couldn’t.
- After a long and tiring search they found a house near the IIT-B campus, Powai.
- Since they had a good network of potential clients among their IIT friends and batch mates, they become brokers and made INR 1-2 lakhs a month within a short period of time.
- So they thought it’s time for national expansion. But they lacked extensive local knowledge of different cities and states. So a well-planned map-based portal, “housing.co.in” was made open for public in June 2012. “If something doesn’t exist, build it yourself, and if it doesn’t work, move on” – Rahul Yadav, CEO, housing.com to Forbes India Magazine.
Big funding’s –
Housing.com has raised four rounds of funding since its founding in 2012. The company raised $2.5 million in Series A funding from Nexus Venture Partners in June 2013. The company used the funds to create its Data Science Lab and to expand to four cities: Bangalore, Gurgaon, Pune, Hyderabad The company raised another $19M in venture funding, led by Helion Venture Partners, in April 2014. Softbank have led a $90 million investment in Housing.com along with Falconedge and other investors in December 2014. Housing.com closed two undisclosed rounds of funding in February and March 2013. The rounds were led by Network18 CEO, Haresh Chawla, and Zishaan Hayath, the co-founder of Chaupaati Bazaar.
Stupendous spending’s –
Housing dot com spent around 1$ million for a domain and a number 03-333-333-333 and always been in the news for the lavish parties organized.
Mr.Rahul Yadav the controversial CEO of housing.com had a spat with Sequoia India MD Shailendra Singh and accused him of poaching his fellow members to join his venture capital as analyst. Yadav wrote a mail to Singh calling him ‘inhuman and unethical’ which was later leaked on Quora
“Dude, I just came to know you personally are completely after Housing’s employees and are brainwashing them to open some stupid incubation. If you don’t stop messing around with me, directly or even indirectly, I will vacate the best of your firm,” Yadav said in the email referring to Singh as ‘dude’.
While the letter was subsequently removed from Quora, Yadav went on to pour out more aggression on the
Q&A based networking platform: Here’s a screen screenshot.
although it is very common in the valley industry to attract the employees and hire them which housing itself has done many times.
Mr.Rahul’s resignation letter and letter his dramatic recall –
Rahul gave a shocking resignation letter accusing all the board members lack intellectual capability to build the company.
Here’s the letter:
Dear board members and investors, I don’t think you guys are intellectually capable enough to have any sensible discussion anymore. This is something which I not just believe but can prove on your faces also!
I had calculated long back (by taking avg life expectancy minus avg sleeping hrs) that I only have ~3L (hours) in my life. ~3L hrs is certainly not much to waste with you guys!
Hence resigning from the position of Directorship,Chairmanship and the CEO position of the company. I’m available for the next 7 days to help in the transition. Won’t give more time after that. So please be efficient in this duration.
But after a meeting with the board Rahul took the resignation letter back and apologized the board and he wished to work for the betterment of the company
here is a screen grab from your story
He gives away his stocks to the employees-
Rahul Yadav gave away his personal shares worth Rs.150-200 crore to the employees of Housing.com who number 2,251.
Yadav justified the surprise move, saying he is “just 26 and it’s too early in life to get serious about money etc.
Finally CEO uploads his new dp :D-
Rahul yadav is called as a controversial kid for all these reasons.