Might opt for salaried employment after failure of his latest venture
Housing.com’s outspoken co-founder Rahul Yadav, in his typical style, announced the failure of another venture of his. And, that he might now give up on an entrepreneurship dream altogether, taking salaried employment.
Last July, when Yadav was removed from Housing.com, he'd sworn to start his own company soon. He had published a post on Facebook, saying he’d launch by August 15. The dates kept getting pushed.
Then, in December, he announced he’d raised money from Sachin and Binny Bansal of Flipkart, Yuvraj Singh's seed fund venture, and reportedly Vijay Shekhar Sharma from Paytm.
He had apparently started a company called Intelligent Interfaces, being designed to use data analytics to “streamline processes for the government”. He claimed he’d revolutionise how the government functioned.
That isn’t how it worked out. He said he valued his company, which did not have any clients at the time, at Rs 170 crore (Rs 1.7 billion).
However, a recent report by Inc42,a tech news platform, revealed that the IIT dropout had raised only about Rs 3 crore (Rs 30 million), which he managed to run through within three months.
Yadav in a separate post then blamed “government officials for not taking any decision”. He had also hinted that a real estate venture could be in the offing. He had founded Rental Solutions Private Limited this March, in the business of “renting properties, homes, land and building”.
Interestingly, Housing in its latest streamlining has got rid of rental, to focus on buy-and-sell.
History says it all
2012: Housing founded with 11 others
Mar 2015: Launches Rs 150-180 crore marketing campaign
Jun 2015: Resigns from company and then takes notice back
Jul 2015: Gives up his stake and then gets fired ' Announces he will launch a new venture
Jan 2016: Reportedly raises Rs 3 crore for his venture
May 2016: Announces he has shut the company