13th May 2015, Mumbai – Rahul Yadav, the CEO of Housing.com and the guy who never seems to go out of news, this time has given away all his shares to employees of the company he runs. The shares are said to be worth between INR 150 Cr. and INR 200 Cr. (Rahul owns 4.5% share in the company ). The shares are said to be given away to 2251 employees of Housing.com.
Rahul made this announcement in the company townhall that was attended by all employees of Housing.com on Wednesday. Employees will get approximately one year of their annual salaries worth of Housing.com stocks, the statement added.
Explaining his move Rahul said “Housing was started because of 2 reasons. First, house hunting problem is unsolved globally. Just the problem statement gives me a lot of kick. Second, 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.”
“Other than these 2, there is no other factor at play here, including money. I’m just 26 and it’s too early in life to get serious about money etc,” he added.
Rahul Yadav was in the news just a few days ago when he resigned from the company calling investors intellectually incapable. Within 24 hours of submitting his regisnation, Rahul took it back after a board meeting.