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Housing.com CEO Withdraws Resignation

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Within a few days of resigning as the CEO of Housing.com, Rahul Yadav has withdrawn his resignation. Founded by Rahul Yadav and Advitiya Sharma fresh out of IIT-Bombay, Housing.com is seen by many as one of the big success stories in India's e-commerce space.  It shot to fame after Japan's SoftBank invested $90 million in the company.
 
In a statement, Housing.com said: In the relatively short period of its existence, Housing has revolutionised the real estate market in India and it continues to lead and disrupt with world class product innovations. Today the Housing board met, and has been reconstituted to include all main shareholder representatives. After some good conversations the board has reaffirmed its faith in Rahul Yadav's vision at Housing.
 
The statement also said that the Housing board met, and has been reconstituted to include all main shareholder representatives.
 
Rahul commented: "After some frank and healthy discussions with the Board I have agreed to withdraw my resignation and I apologise for my unacceptable comments about the board members. I look forward to staying on at Housing as CEO and building an even greater company, while working in full harmony with the board."
 
As per a newspaper report, Yadav, 26, 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 investors responded a day later through the law firm Morrison & Foerster LLP acknowledging the resignation. "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!" Yadav wrote in the opening paragraph of his letter resigning as CEO, chairman and a member of the board.
 
Yadav also got embroiled in a social media dust-up with Sequoia Capital managing director Shailendra Singh and later the Times Group.


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