At the heart of the current crisis at the proptech startup lies a flawed business model, sham prospective buyers and higher-than-usual payouts to brokers.
Info Edge has written off Rahul Yadav. The publicly listed online classifieds provider that owns about 60% of Yadav’s latest startup, 4B Networks, no longer finds any value in it.
A property tech venture founded less than three years ago, 4B Networks was supposed to be Yadav’s comeback as a startup founder. It was also supposed to become a “Zomato or Uber or Ola of real estate”, says a former executive, and redeem Yadav, who is still remembered as the disgraced co-founder of Housing.com. In 2015, Yadav was ignominiously fired by the company’s board after repeatedly clashing with investors.
Harveen is a co-founder at The Morning Context, and leads our Internet coverage, overseeing a team of reporters writing on startups and tech. She has previously worked as a media, consumer and tech reporter at The Ken and Mint. At The Morning Context, she writes on startups, venture capital, consumer and media businesses—from e-commerce to healthtech to streaming.