Housing.com CEO Rahul Yadav, who has been in the news for shooting off his mouth in the past, today resigned with a dramatic letter addressed to the investors.
Dear board members and investors,
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! I had calculated long back (by taking avg life expectancy minus avg sleeping hrs) that I only have ~3L (hours) in my life. ~3L hrs are certainly not much to waste with you guys!
Hence resigning from the position of Directorship, Chairmanship and the CEO position of the company. I’m available for the next 7 days to help in the transition. Won’t give more time after that. So please be efficient in this duration.
The brusque letter, in which he calls the investors in his company “not intellectually capable enough”, follows close on the heels of another Quora post he’d sent to Sequoia partner Shailendra Singh, in which he had asked him to “Go die motherf******”. There had been speculation that Yadav’s position was in question after this outburst.
Yadav had also been criticized for the 120 crore promotion blitzkrieg that Housing had initiated in the past few months, which was reportedly over budget. Housing had been valued at Rs. 1500 crore after an investment on $90m by Softbank last December.
The investors at Housing have accepted his resignation with this letter:
In a discussion among the Investor group, I was requested to send you an express acknowledgement, on their behalf and without any other effect on the terms of our agreements, of your April 30 resignation from your positions (1) on the board of directors (including as chairman and managing director) and (2) as CEO.
With best regards Noah Carr Morrison & Foerster LLP