In a star-studded panel with the CEOs of billion-dollar startups like Paytm, Flipkart, and InMobi in Bengaluru on Friday, the ousted founder CEO of Housing.com, Rahul Yadav, announced that he had started a new company, Intelligent Interfaces, with the help from Flipkart founders Sachin Bansal and Binny Bansal.
The 26-year-old maverick entrepreneur was introduced on stage by the Flipkart’s product head Punit Soni as ”India’s jobless CEO.”
It was when Soni asked him, “What now, Rahul?” Yadav broke the news about his new start-up, which aims to provide tech solutions to government agencies to solve India’s problems through e-governance.
Much to the pleasure of the audience, Yadav said, “This time I have decided not to take VC money.”
Recounting his experience as to what had led to fissures between him and the investors, Yadav said that a venture capitalist, who invested in Housing.com once asked him him about the page- views of the mobile app.
“Now how do I explain that we were a one page mobile and desktop app with a single flow? You can’t ask Gmail its page views!”
“I was advised that relationship between investors and entrepreneurs is like marriage….and all that. But when it came down to guys at third or fourth levels, they would start asking for revenues. In this [smartphone] era, some of them were still using Blackberry,” Yadav was quoted by techinasia.com
On 1 July, Housing.com board had decided to sack its CEO and co-founder Yadav after reports that Quickr was seeking to acquire the company and Yadav’s subsequent emails to employees that he was telling journalists two different sets of information on the whole issue.
A strongly worded press-statement from Housing.com said that the Board believed Yadav’s behaviour was not befitting of a CEO and ‘was detrimental to the company, known for its innovative approach to product development, market expansion and brand building.’