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Employees of <keyword id="1960231" type="UNKNOWN" weightage="20" keywordseo="Housing-com">Housing.com</keyword>, who received shares as gift by former chief <keyword id="536283" type="PERSON" weightage="20" keywordseo="Rahul-Yadav">Rahul Yadav</keyword>, are enraged as the company is planning to give them those shares in the form of phantom stocks. 
 
Yadav had given nearly 5% of his shares to all its employees. Now, the new management of Housing.com, which is eyeing a strategic stake sale, is giving a phantom stock option. 
 
"Rather than getting physical stock options, the employee receives a documented understanding with the company. The PSU follows the price movement of the company's actual stock, paying out any resulting profits when due,” Housing's chief human resource officer Ajay Nair told employees in an e-mail. 
 
This means Housing.com can retain Yadav’s shares. 
 
Issuing actual shares to all employees would have created tax liabilities for the company and made it a public limited company, they said. Besides, former employees couldn't be issued actual shares, they said, declining to be identified. 
 
"Legally, we cannot redistribute Rahul's shares. The only legally permissible way to provide the intended benefit of Rahul's shares to qualifying employees and ex-employees is through the issue of PSUs,” a Housing.com spokesperson told ET.

Housing.com turns Rahul Yadav’s gifted shares to phantom stocks, employees enraged

At an undisclosed valuation, <a href="http://www.businessinsider.in/searchresult.cms?query=Real+estate+&amp;sortorder=effectivedate">Real estate </a>portal <a href="http://www.businessinsider.in/searchresult.cms?query=PropTiger&amp;sortorder=effectivedate">PropTiger</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Housing.com&amp;sortorder=effectivedate">Housing.com</a> have merged in an all stock deal. 
 
The company, in a statement, confirmed that global online real estate advertising company REA Group will invest $50 million in the joint entity while Softbank will put in $5 million. 
 <keyword id="1871874" type="COMPANY" weightage="20" keywordseo="PropTiger">PropTiger</keyword> CEO Dhruv Agarwala will be leading the company and both the companies will be working and running separately. 
 
"India is an important part of our international growth strategy. The joint entity will have access to REA Group's expertise and know-how from its operations across the globe,” said REA Group CEO Tracy Fellows. 
 
This deal comes in roughly a year after Tiger Global backed Commonfloor got acquired by online classifieds firm Quikr. 
 Reportedly, in the tie up, new projects showcased on the <keyword id="1960231" type="UNKNOWN" weightage="20" keywordseo="Housing-com">Housing.com</keyword> platform online, will leverage PropTiger's offline services including site-visit arrangement, price negotiations, paperwork assistance, home-loan offers to complete the deal. While PropTiger will provide an upfront marketing fee to promote New Projects on Housing.com, it will also share a part of the transaction fee on successful sale of a property. 
 
After the ouster of Housing's founder Rahul Yadav, most of the company cofounders quit the startup. However at the same time, under the leadership of Kothari the company has revamped its top management and appointed more experienced talent on its board including former Google and Amazon top executive Vivek Jain as its chief product and technology officer and Keerthi Kiran as the head of new real estate projects. 
 
PropTiger on the other hand says it distinguishes itself in the market by offering customers an end-to-end service from house discovery to final purchase, including arranging site visits, assisting with home loans and property registrations. 
 
The company's other investors include SAIF Partners and Accel Partners. News Corp acquired 25% stake in Elara in November 2014 for $30 million and increased its stake to about 30% in June 2015.

PropTiger and Housing.com merge at an undisclosed valuation; raise $55 million from REA, Softbank

MUMBAI: Flush with funds and hungry for growth, a bunch of startups is gearing up to stake claim on talent at India’s top campuses. 
 
As placements unfold over the next few months at the IITs, IIMs and other institutes, these startups look on track to give traditional heavyweights a run for their money in the battle for talent. 
 
Ten startups that ET spoke to are collectively looking to hire more than 850 graduates across leading business schools, engineering colleges and graduate schools this fiscal. 
 From established names such as <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, TaxiForSure and <keyword id="1006428" type="COMPANY" weightage="20" keywordseo="Olacabs">Olacabs</keyword> to campus newbies like Vizury and <keyword id="2463175" type="UNKNOWN" weightage="20" keywordseo="CodeNation">CodeNation</keyword>, almost all are hiring in greater numbers than before, armed with attractive pay packages and the promise of greater responsibilities and faster growth for potential hires. 
 
Barely six months after being registered as a company, enterprise software developer CodeNation is already one of the most coveted recruiters at engineering campuses such as National Institutes of Technology (NITs), offering salaries of Rs 24 lakh. One of the last to go to the campuses last season, it hired 12 engineering graduates in March 2014. 
 
This time, it plans to net the best early on from the IITs, NITs, IIITs (Indian Institutes of Information Technology), DTU (Delhi Technological University) and PESIT (PES Institute of Technology). "We went to campuses very late (last time), but do not want to do the same this time. We plan to hire 50 students from the best colleges," said Anuja Sivaram, head of operations at CodeNation. 
 Another relatively new name is Bangalore-based big data analytics startup Vizury. Last year, it went to two <keyword id="2470783" type="UNKNOWN" weightage="20" keywordseo="BITS-Pilani-University">BITS Pilani University</keyword> campuses with seven offers. The startup, which in June saw a third round of <keyword id="6357455" type="EVENT" weightage="20" keywordseo="Funding">funding</keyword> totaling $16 million from new and existing investors, is planning to recruit more this year. "We plan to hire 25-30 engineers from IITs, BITS Pilani University, NITs and IIIT campuses for our product engineering team. Students will be working on cuttingedge analytics and advertising technology platforms," said Subra Krishnan, vice-president in charge of products. 
 
Taxi-service startup Olacabs, fresh after raising Rs 250 crore last month, is on an expansion mode. 
 
To drive its growth plans, the company is in the market for 100 new hires from IITs and IIMs, compared with 40 it recruited last year, said co-founder and Chief Executive Bhavish Aggarwal. 
 
Rival TaxiForSure, on its part, is heading to engineering campuses for the first time this year. Until now the company hired engineers laterally. "We will head to IIT-Madras and IIT-Bombay for the first time. Now we have five engineering managers who can train the new recruits and therefore there is sufficient leadership to hire from engineering campuses," said human resources head TN Hari. 
 While it hasn’t decided on the number of engineering students to be recruited, the startup will hire 25 from IIMs in Bangalore, <keyword id="6354925" type="COMPANY" weightage="20" keywordseo="Kolkata">Kolkata</keyword>, Ahmedabad and Lucknow as well as the <keyword id="6357275" type="ORGANIZATION" weightage="20" keywordseo="Indian-School-of-Business">Indian School of Business</keyword>. 
 Online retailer Flipkart, last year’s biggest <keyword id="41007" type="POSITION" weightage="20" keywordseo="recruiter">recruiter</keyword> in the startup space, declined to share numbers for this year but is expected to at least match last year’s hiring tally. 
The Bangalore-based company, which made an entry into the ET Top Recruiters at B-schools survey for the first time this year, hired more than 275 students from across campuses, including 90 management trainees, 115 graduate trainees and 70 software development engineers last season. 
 
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What helps these startups attract talent other than strong hiring numbers is a vibrant work environment, and salaries that are as competitive as many established organisations. TaxiForSure, for instance, will be offering packages ofRs 8-10 lakh at IITs. At IIMs, salaries will range between Rs 12 lakh and Rs 25 lakh, compared with Rs 12-18 lakh last year. 
 Mobile marketing and communications startup <keyword id="416397" type="UNKNOWN" weightage="20" keywordseo="ZipDial">ZipDial</keyword>, which intends to hire around 20 students this year, says while its fixed salaries may be slightly lower than market rates, top performers stand to make much more in terms of variable bonuses and employee equity grants. LimeRoad.com, which operates an online shopping platform for women, will offer employee stock option programmes. 
 Restaurant-guide startup <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> is offering around Rs 15 lakh a year while property listings portal <keyword id="1960231" type="UNKNOWN" weightage="20" keywordseo="Housing-com">Housing.com</keyword> will be shelling out anywhere between Rs 12 lakh and Rs 18 lakh. 
 Mumbai-based Housing.com, which raised Rs 115 crore in a new round of funding in June, was in fact, a <keyword id="2470782" type="UNKNOWN" weightage="20" keywordseo="first-day-recruiter">first-day recruiter</keyword> at <keyword id="2470784" type="UNKNOWN" weightage="20" keywordseo="IITKharagpur">IITKharagpur</keyword> placement rounds last December, sharing space with the likes of <keyword id="6355629" type="CITY" weightage="20" keywordseo="Google">Google</keyword> and <keyword id="43340" type="CITY" weightage="20" keywordseo="Oracle">Oracle</keyword>. 
 
This year, as well, several startups are likely to be among the first and second day recruiters at prestigious campuses, a privilege usually reserved for big-ticket recruiters. 
 
"The culture of entrepreneurship that startups provide, the growth opportunities and the challenging work environment are all very attractive to a number of students," said Punj Rajan, a student placement committee member at IIT-Kharagpur. "They actually want several startups to be among the companies slotted in the first few days of placements." Rajan had interned with Jabong.com during summer. Even B-schools are ready to make extra efforts to attract more startups. 
 
IIM-Bangalore last year organised a separate day for startups to come and hire from the executive MBA batch. "Startups often offer senior positions and if they need more time and rounds, we are ready to stretch for them. In the near future, we may have separate startup fairs for our flagship PGP batch too," said Sapna Agarwal, head of career development services at IIM-Bangalore. 
 
Not surprisingly, Advitiya Sharma, co-founder of Housing.com, says he has been flooded by invitations from top colleges. His plans are not firmed up as yet, but he intends to hire around 25 people from IITs and a similar number from IIMs across software, analytics, operations and tech roles. 
 
Another startup, Wooqer, has already made three pre-placement offers at Malaviya National Institute of Technology, Jaipur. It plans to hire 25 students across IITs and a couple of NITs, and intends to reach out to IIM-Indore, IIM-Bangalore, SP Jain Institute of Management &amp; Research and NMIMS soon. 
 
Salaries will range from Rs 13 lakh toRs 17 lakh. Other institutes including graduate and design schools are also being targeted by these startups. 
 
Upasana Nath, chief recruitment officer at Zomato, said besides the 40 students it will be hiring from engineering colleges like the IITs and senior leadership profiles from IIMs and ISB, it will be taking on board 200 for front line sales and content operations from graduate colleges in Delhi, Mumbai and Bangalore. Suchi Mukherjee, CEO &amp; co-founder of LimeRoad.com, said the startup intends to get 30-50 people from campuses alone. IITs in Delhi, Kanpur, Mumbai and Chennai will be the focus for technology and IIMs in Ahmedabad, Bangalore and Kolkata for product managers, marketing and category managers.

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Housing.com turns Rahul Yadav’s gifted shares to phantom stocks, employees enraged

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PropTiger and Housing.com merge at an undisclosed valuation; raise $55 million from REA, Softbank

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Indian Startups Compete With Bigger Firms For Campus Recruits

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