housing.CEO

Jason Kothari, newly appointed CEO, Housing.com

Four months after ousting CEO Rahul Yadav for his alleged misbehaviour with investors and other stakeholders, online real estate major Housing.com has promoted Chief Business Officer Jason Kothari to the top post.

He replaces Rishabh Gupta (COO), who has been acting as interim CEO since Yadav’s ouster.

Kothari, who joined the Mumbai-based startup in August this year, was unanimously appointed as new CEO by the Board of Directors on Thursday, according to an official statement.

Since joining the company, Kothari has helped Housing in key initiatives such as strengthening the management, establishing partnerships with industry bodies, and launching of a new product called Brand Falcon. He also brought in Chief Financial Officer Mani Rangarajan, General Counsel Nandini Mehta, and Chief Marketing Officer Nikhil Rungta to the company.

Yadav, who is also Co-founder of Housing, was fired in July this year as his “behaviour was not befitting a CEO.” In a statement, the company had then said that Yadav’s behaviour was “detrimental to the company known for its innovative approach to product development, market expansion and brand building”.

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Founded in 2012, the real estate platform claims to have eight million monthly hits, and a million verified homes listed to date.

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Housing has been constantly in the news for various reasons. It recently decided to lay off 200 more employees to cut costs, after firing 600 people in August.

In September, the firm acqui-hired two startups — Plat, an online network for agents and BigBHK, a property management software targetted at rental suppliers.

Housing competes with Google Capital-backed CommonFloor and InfoEdge-backed 99acres. The company has raised around US$120 million in funding till date from the likes of SoftBank, Qualcomm Ventures and Nexus Venture Partners.