Twitter takes potshots as Housing.com's Rahul Yadav may or may not have resigned again

Close to the heels of his rather unceremonious resignation letter two months ago, Rahul Yadav, CEO of the online real estate start up Housing.com has reportedly quit again, Economic Times said on Thursday.

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In May, when Yadav had put in his papers, the board had refused to accept his resignation and convinced him to stay on, despite his accusation that the board and the company's investors were not "intellectually capable enough". However, this was meant to be short lived, as it is now rumoured that this time the board has decided to take the fateful step and call it a day on the Yadav episode, ET quoted sources in the know.The Economic Times report has also quoted an email sent by Yadav to his board: "Thanks for the quick resolution. Do let me know wherever you guys need my help. Also, given my zero shareholding and not being CEO, I don't think I need to be on the board as well."

Housing.com has denied the rumour, however Economic Times maintains that it has the aforementioned email. 

Rahul Yadav's earlier resignation letter had caused quite a stir on Twitter, with rather witty tweets filling up the day. While we wait for a confirmation on the matter, Twitterverse is having a field day thanks to Yadav, again!

Source - DNA 

Twitter CEO Dick Costolo steps down

Twitter chief executive Dick Costolo is stepping down and will be replaced on an interim basis from July 1 by co-founder Jack Dorsey, the company has said.

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The move comes with the one-to-many messaging platform struggling to boost its user base after a much-anticipated public offering in 2013.

Costolo guided the San Francisco-based firm through its initial public offering, but growth has been disappointing and the company has yet to show a profit.

Twitter said it formed a committee that will work with "a leading executive search firm to assist in conducting a global search which will consider both internal and external candidates" for CEO.

Dorsey said in the statement: "The future belongs to Twitter thanks in large part to Dick Costolo's dedication and vision."

In its latest earnings report, in April, Twitter said it had a net loss in the quarter of $162.4 million.

The company said the number of active monthly users rose above 300 million, but that figure has been growing a pace too sluggish for many investors, and below rivals in social networking.

A Twitter statement said Costolo would remain as a member of the Twitter board and that Dorsey would stay as CEO of Square, the financial technology group he founded, during the search for a new chief executive.

source - DNA