The drama at Housing.com seems to have finally come to an end with its CEO Rahul Yadav resigning from the startup in a dramatic fashion. In a letter to investors announcing his resignation, Yadav calls them intellectually incapable to have a sensible discussion and said he doesn’t have time to waste with them. Also Read - PropTiger, Housing.com merge to form India’s largest online real estate company
Housing.com shot to limelight after raising $90 million in an investment round led by Softbank last December at a valuation of Rs 1,500 crore. Yadav has been criticized for burning through money with an expensive blitzkrieg “look up” advertising campaign. He was in the news recently when he became embroiled in a public spat with Sequoia Capital’s Shailendra Singh. He also had a flare up when reports emerged about Housing.com investors looking to replace him as the company’s CEO. Also Read - Has Rahul Yadav’s startup Intelligent Interfaces failed before launch?
Yadav gave a seven day notice period to the company, saying he did not have much time to waste with the investors any more. Here’s his resignation letter as reported by NextBigWhat. Also Read - Housing.com raises funds from former 99Acres.com head Vineet Singh
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 are 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.