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Rahul Yadav’s Reddit AMA: Sequoia Capital deal, ESOPs challenge & More

It all started off with an email. No this isn't the opening scene of a rom-com movie releasing at a theater near you, this is a soap opera with an eclectic CEO in the lead role. Emails were sent, lawsuits were filed, the CEO resigned and withdrew it within 24 hours, and all this time social media was abuzz with conjectures, banter and every once in a while a bit of nastiness. So, it looks like Housing.com CEO Rahul Yadav thought to himself let's get more candid, and he participated in an Ask Me Anything session on Reddit. He spoke about a number of issues (including what he thinks about Zomato, but we aren't going there!) and cleared the air on some of the issues we have been reading about over the past couple of months. On the Sequoia Capital deal Yadav said that initially a slided deal between 10-15% (depending on performance) for $1 million funding had been decided. However, after about 2 months of due diligence, Sequoia wanted a sign a flat equity deal, when they realised that Housing was running out of money. Yadav mentioned that at this time he suggested that the deal be finalised for a 12.5%, but Sequoia wanted 14.75%. He also mentioned that Sequoia wasn't interested in further negotiations and stated “Let’s not waste each others’ time”, which left Housing with no other option. We decided a slided deal between 10-15% (depending on performance) for $ 1 million. After 2 months of due diligence, when…

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