Last week Tien Group owner took all his 6400 employees to a 4-day vacation in France. And, back in India a same kinda story repeated, Housing.com’s CEO Rahul Yadav have given away his entire stake in the company worth Rs.200 crore to the employees.
The story goes something like this, Yadav had reportedly written a resignation letter on April 30 to the board and investors, questioning about their “intellectual capability” and giving them a one-week deadline to “help in the transition”. However, on May 5, he withdrew the resignation and apologized for action taken in the heat of the moment.
And, during this time Rahul Yadav decided to give away the entire stake to the 2,251, employers of the company as he believes “he is just 26 and it’s too early in life to get serious about money etc.” Indeed a very wise decision,we say. The value of the stake is worth the employees’ one-year salary.
Housing.com is a two-year old real estate website, it is backed by Japan’s Softbank. Last December, Softbank funded the start-up company with USD 90 million,valuing the portal at about Rs 1,500 crore. The primary reason for its set up is said to solve the house hunting problems globally and to unify a global platform for both buyer and seller.