Housing.com CEO Rahul Yadav has allotted all of his personal shares – said to be worth between Rs. 150 crore and Rs. 200 crore – to all of the 2251 employees of Housing.com, the company said via a press statement on Wednesday.

Yadav made this announcement on Wednesday at the company townhall that was attended by all employees of Housing.com. Housing.com employees will get approximately 1 year of their annual salaries worth of Housing stocks, the statement added.

Explaining his reasoning behind the move Yadav said, “Housing was started because of 2 reasons. First, house hunting problem is unsolved globally. Just the problem statement gives me a lot of kick. Second, in each and every country there are 4-5 players doing the same poor job and still not able to solve the problem. Across the globe there are 500+ players. We want to unify all and create a global giant for real estate so that the one company can afford much higher level of R&D and technological innovation to push the category forward.”

“Other than these 2, there is no other factor at play here, including money. I’m just 26 and it’s too early in life to get serious about money etc,” he added