Nikesh Arora, Vice-chairman, SoftBank has resigned from boards of companies such as Snapdeal, Ola and Housing, and will now mentor these organizations instead. He is stepping down six months after the company invested in what are regarded as three most exciting start-ups of the country.
On the Housing board, Nikesh Arora will be replaced by Jonathan Bullock as a representative of the largest investor in the online real estate search company. In Housing, Nikesh, who was formerly senior vice president at Google, put down his papers some one-and-a-half-months ago.
SoftBank has a 30 per cent stake in Housing, after it led Rs 550 crore funding round in the company in last year November.
Softbank has emerged a major investor in Indian technology companies in the past year. Before it invested in Housing, Softbank picked up 30 per cent stakes each in Ola and Snapdeal.