Housing.com co-founder and CEO Rahul Yadav's resignation news on Thursday (25 June) sparked a buzz on the social media platforms. Economictimes.com quoting two people directly aware of the development said this time his resignation will be accepted by the board of the real estate portal, .
However, both Housing.com and economictimes.com later denied that Yadav has resigned.
Yadav, 26, who has been involved in a string of controversies, will be asked to stay on at the company and oversee product development.
In May this year, Yadav resigned as the CEO of Housing.com, capping several weeks of drama at one of India's most watched startups.
Yadav wrote a scornful resignation letter on April 30 to board members and investors denigrating their "intellectual capability" and giving them a one-week deadline to "help in the transition".
The portal shot to fame as one of India's startup success stories after Japan's SoftBank led an investment of $90 million ( Rs 550 crore) in December, valuing it at Rs 1,500 crore. Since then, Yadav has been in the spotlight for the wrong reasons — he became embroiled in a social media dust-up with Sequoia Capital Managing Director Shailendra Singh.
Housing was founded in 2012 by a dozen college-mates from IIT-Mumbai, of whom three have left the company.