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Housing.com CEO Rahul Yadav pledges his shares worth Rs. 150-200 Cr to employees

Housing’s Co-founder and CEO Rahul Yadav has once again created headlines. In a dramatic announcement made at a town-hall yesterday, Yadav has said that he will transfer his shares in the online real estate firm in favour of the employees of the company.

Housing’s Co-founder and CEO Rahul Yadav has once again created headlines. In a dramatic announcement made at a town-hall yesterday, Yadav has said that he will transfer his shares in the online real estate firm in favour of the employees of the company.

According to an official statement from the company, Yadav has allotted all of his personal shares worth Rs 150-200 crore to all 2,251 employees of the company. The statement said that Housing.com employees will get approximately one year of their salaries worth of shares in the company.

“I am just 26 and it is too early in life to get serious about money,” Yadav said in the statement.

Yadav, while explaining the reason behind this move said, “Housing was started because of two reasons:

1. House hunting problem is unsolved globally. Just the problem statement gives me a lot of kick.

2. In each and every country there are four to five players doing the same poor job and still not able to solve the problem. Across the globe there are 500+ players. We want to unify all and create a global giant for real estate so that one company can afford much higher level of R&D and technological innovation to push the category forward.

Other than these two, there is no other factor at play here, including money!”

Housing, which was started by Yadav and 11 other friends from IIT Bombay in 2012, has so far raised $120 million in five rounds including $90 million from Japan’s Softbank, now valuing the company in the range of $200-300 million.

On April 30th 2015, Yadav had written a harshly-worded resignation letter following differences with investors. He later took back his resignation and decided to stay on in the company after a compromise was reached at the board meeting earlier this month.

Besides Japan’s SoftBank, which is a major investor in the company with one-third stake, Helion Ventures, Nexus Venture Partners and Falcon Edge Capital are also shareholders.

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