The report says Sharma plans another startup but has not decided on anything as of now. his resignation letter simply states he has more to create and will be taking another path.
Sharma, also a board member of the company, looked after investor and external relations. Prior to Housing, he worked at AT Kearney for seven months as a business analyst.
Housing.com was founded by 12 people including Sharma and Rahul Yadav, who was let go as CEO of the company in July last year.
Yadav later launched a new startup which went on to get funds from Flipkart’s founders Sachin and Binny Bansal in December 2015.
According to Medianama, Yadav’s wrote a ‘scornful’ resignation letter in April last year to board members and investors, criticising their intellectual capabilities and giving them a one week deadline to ‘help the transition’.
The investors responded the next day with an acknowledgement of the resignation through the law firm Morrison & Foerster.
The following day, Yadav withdrew his resignation and apologized for his ‘unacceptable comments about the board members’.
In January, the company raised Rs 100 crore from Softbank, its largest investor to drive its new strategy and growth plans.
In a statement, Housing.com CEO Jason Kothari, appointed in November last year says the company is now well-capitalized to aggressively execute on its focused strategy and growth plans.
"We believe 2016 will be a great year for the company.” Prior to this investment, Housing had raised $139.5 million in total from four rounds of funding.
In the same month, it appointed co-founder Snehil Buxy as its chief product officer. In his new role, Buxy will be responsible for new products and solutions. Prior to this, he led the front-end team and product development at the company.
Other key appointments include Nikhil Rungta as chief marketing officer, Nandini Mehta appointed general counsel in October last year and Mani Rangarajan as chief financial officer.
Layoffs were also numerous in the period following a restructure the numbers of which were stated by the company to be 160 employees but MediaNama reports it received an anonymous tip-off that the number of staff cuts could be as high as 1,100, almost half of its workforce, and most of the people who would be affected would be the company’s ground and operational staff.