Looking at the current scenario, it seems like Housing.com is going through an unfortunate time. Recently, in a fatal car accident, two of Housing employees, Siddharth Bhandari and Nilesh Wani were killed. Housing’s co founder, Advitya Sharma who was responsible for the accident was reportedly arrested for negligent driving.
Even before the remorse of the sad incident could settle, an ugly verbal spat between Housing CEO, Rahul Yadav and Sequoia partner, Shailendra Singh broke out in public.
The matter got viral when Rahul Yadav sent a threatening email to Shailendra Singh, asking him to stop his employee poaching activity. In the mail he said, “If you don’t stop messing around with me, directly or even indirectly, I will vacate the best of your firm. Also, this marks the beginning of the end of Sequoia Cap in India.”
As a response, Shailendra Singh posted the mail on social media site Quora– “During this recruiting exercise, we evaluated over 100 candidates from multiple companies and geographies, and I personally met about a dozen of them, including two housing employees, whom I spent an hour each with. We made an offer to one of them, and he decided to join us.” (To read the full message, click here).
According to the Economic Times, investors raised concerns over Yadav’s approach and conduct, considering that it could jeopardise the future of the Softbank funded company which at present is valued at Rs. 1,500 crore. The board of the company is looking for a replacement. And the investors are considering to remove Rahul Yadav from the CEO position.
An investor in the company said, “The founding team at Housing is very tech-oriented. Rahul is an excellent product guy.But to scale operations and to build a business, it takes more than just building a product. Which is why we feel we should put in place a strategic leadership team.”
However, Yadav denying that he was being replaced as CEO, said in an email, “We are becoming a group of 10 companies (or business units focusing on areas such as land initiatives, commercial property, and international expansion). We are figuring out what title to give them business head or CEO. It does not mean that I am getting replaced.” Further adding he said, “The executive hiring would take about nine months. There is no investor say in the company, I run it and take all the calls.”
The entire episode evokes one simple question, ‘Is it really ok to wash your dirty linen in public?’ In fact, the incident has quite evidently made the spectators in this ecosystem question the professionalism of both the parties. So, what exactly does Housing.com want its customers to ‘Look Up’ to?