New Delhi: Rahul Yadav, CEO of start-up Housing.com, once again came into lights after he announced in a townhall meeting that he is giving away all of his Rs 200 crore personal equity in the company to his 2251 employees. He thinks “it is too early in life to be serious about money etc”.
“Every employee of Housing.com is now a company shareholder,” the company said in a statement on Wednesday, announcing Yadav’s decision to pledge all his shares to the staff.
The employees will get approximately 1 year of their annual salaries worth of Housing stocks, the statement said.
“Housing was started because of 2 reasons:Â 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 4-5 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 the one company can afford much higher level of R&D and Technological innovation to push the category forward,” he was quoted as saying in the statement.
“I’m just 26 and it’s too early in life to get serious about money etc,” he added.
Yadav was in news recently for sending a controversial resignation letter to the company’s board questioning the members’ “intellectual capability”, only to apologise and withdraw it later.
The company, started in 2012, has until now raised about $120 million from investors. In the last round, when it raised $90 million from Japan’s Softbank, it was valued at $200-300 million.