Business

Housing.com CEO Rahul Yadav Gifts Rs 200 Crore Stake To Employees

NEWS WORLD INDIA | 0
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| May 14 , 2015 , 10:45 IST
[caption id="attachment_29630" align="aligncenter" width="700"]Rahul Yadav Is Back: Housing.com CEO Gifts Rs 200 Crore Stake To Employees Rahul Yadav, Housing.com CEO Gifts Rs 200 Crore Stake To Employees[/caption] Rahul Yadav, CEO of start-up Housing.com is back is news. Yadav has announced in a meeting that he is giving away all of his Rs 200 crore personal equity in the company to all the employees. According to him, the reason behind gifting his shares to the 2251 employees is, "it is too early in life to be serious about money etc". "Every employee of Housing.com is now a company shareholder," the company said in a statement on Thursday announcing Yadav's decision to pledge all his shares to the staff. The employees will get approximately 1 year of their annual salaries worth of Housing stocks, the statement said. However, according to a report in an English newspaper, the board is yet to approve the move. Yadav was in news recently for sending a controversial resignation letter to the company's board questioning the members' "intellectual capability", only to apologise and withdraw later. The company, started in 2012, has until now raised about $120 million from investors. In the last round, when it raised $90 million from Japan's Softbank, it was valued at $200-300 million, a report in Techcircle said.