Within days of bringing to an end a controversy that had broken out in start-up Housing.com with other shareholders, Rahul Yadav, CEO, who was central to the drama after sending an objectionable resignation letter and subsequently apologising, took everyone by surprise when he announced that he has allotted all of his personal shares worth Rs 150 cr-Rs 200 crore to all the 2,251 employees.
Rahul Yadav made this announcement today at the company townhall that was attended by all employees of Housing.com.
Housing.com employees will get approximately 1 year of their annual salaries worth of stock.
Rahul Yadav while explaining the reason behind this move said , “Housing was started because of 2 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 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 one company can afford much higher level of R&D and technological innovation to push the category forward.
Other than these 2, there is no other factor at play here, including money!”
Rahul Yadav added further, “I’m just 26 and it’s too early in life to get serious about money, etc.”