Housing.com's CEO Rahul Yadav quits, insults Board in resignation letter

Yadav has stepped down from his position as chairman and CEO, saying the Board is not 'intellectually capable' to have a sensible discussion

Realty startup Housing.com CEO Rahul Yadav resigned weeks after an online spat with Sequoia Capital MD Shailendra Singh over poaching of staff.

Subsequently, investors in the firm were mulling removal of Yadav because of his conduct and differences in strategy plans, according to sources.

In December last year, the portal got funding of $100 million from Japan's Softbank. Till now, it has got funding of $120 million from other investors including Helion Ventures, Nexus Ventures and Qualcomm Ventures. 

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Except for Qualcomm, all other investors have representation in the Board of Housing apart from Yadav and other co-founder of Housing.com Advitiya Sharma. 

The Board is expected to meet today to take a call on Yadav's resignation.

In his resignation letter to board members and investors, Yadav wrote,"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."

He was also holding the position of chairman at Housing.com.

The portal has for the first time, since its inception three years ago, started an advertising campaign -- Look Up -- in the last few months.

The firm has chalked out aggressive expansion plans after receiving funding from SoftBank and was looking to acquire data research firms, Sharma had told Business Standard in February.