Founder Rahul Yadav predicts slow death for Housing.com following merger with PropTiger
With Housing.com acquired by PropTiger in an all-stock deal this week, controversial founder of the real estate portal Rahul Yadav said that the deal marks the end of the Housing brand and the dream that started in 2012.
Speaking to ETNow, Rahul Yadav said that a founder always has vision and can convince the market, thereby keep people patient during tough time.
Yadav, who was ousted from its chairmanship in 2014 following a public spat with the investors, said that he could have easily navigated through tough times.
Underlining that Housing.com's merger will give rise to conflict of interest among investors, Yadav said that it may lead to possibilities of the venture getting less investments.
Stating that Housing will die a slow death after becoming irrelevant, Rahul claimed that PropTiger will benefit the most as its revenue will be doubled.
Housing.com was started in 2012 by Rahul Yadav along with nine other co-founders as rental portal. It raised $38 million over two tranches in 2014, before raising a bumper $100 million round from SoftBank in November that year. Of them only two — Snehil Buxy and Neeraj Bhunwal — still remain with the company.