![]() ![]() We offer a software platform and other services that assist in identifying residential real property to be used for leasing, leasing the properties to tenants and offering real estate option agreements in which the tenants may purchase their leased property (the " Services") through our websites, including our website located at (collectively, our " Websites"), our mobile device applications, if any (our " Apps"), and application program interfaces and other services we make to interact with you through social networks (such social networks, " Social Networks" our services that interact with Social Networks, " Social Network Services" our Websites, our Apps, our Social Network Services, and our other services are collectively our "Services").Īll materials provided on the Services, including but not limited to information, documents, products, logos, graphics, sounds, images, compilations, content and services, are provided either by Divvy or by respective third party users, authors, developers or vendors and are the copyrighted works of Divvy and/or such third party providers (or is permitted/licensed to be used by such third party providers), unless specifically provided otherwise. and “arguably more insulated than its Silicon Valley peers from the ups and downs of the housing market for a simple reason: Its business model does not rely on homeownership as an outcome.These Terms of Use (these "Terms") are a legally binding agreement between you and Divvy Homes, Inc., doing business as Divvy and Divvy Homes, and its related companies, affiliates, and subsidiaries (" Divvy," " we," or " us"). Fast Company said a review of court cases and interviews with renters also found that the company had stepped up evictions of clients and could be slow to make repairs.ĭivvy told Fast Company that while half of its customers become homeowners, evictions are “an unfortunate part of our business” but that the company’s eviction rate is in line with the national average.īut Fast Company concluded that Divvy is one of the top-10 net acquirers of single-family homes in the U.S. In October, the publication Fast Company analyzed rents advertised by Divvy on 18,000 properties in 19 markets and concluded that the company charges higher rents than other landlords in some markets. As a result, we needed to adjust headcount to reflect the new reality today.”Ī $200 million Series D raise in August 2021 that valued the company at $2 billion was followed by $735 million in new debt financing just two months later. “Realistically, the macro environment is likely to remain volatile and challenging for the foreseeable future. “Although we recognized these macroeconomic challenges in late summer 2022 and took steps to substantially reduce our cost structure in response, it unfortunately was not enough,” a company spokesperson said at the time. San Francisco-based Divvy laid off about 12 percent of its workforce in September, or about 40 people, citing “worsening economic conditions.” “As with many others in my network, these challenging economic times have to layoffs here as well and unfortunately I was impacted today.” “Almost a year ago I left Marcus by Goldman Sachs to take the role of Head of Growth Marketing at an amazing startup Divvy Homes which was disrupting the real estate market,” Josh Harary posted on LinkedIn. implemented another round of layoffs Wednesday, handing out pink slips to high-ranking employees, including the head of growth marketing, the company’s IT manager and a senior product manager, according to public posts on LinkedIn.Īlthough Divvy has not yet responded to requests for comment, a half-dozen former employees posted on LinkedIn that they were affected, including a software engineer, business operations analyst, and home operations “ servant-leader.” 8-10 at Inman Connect Las Vegas to lean into the shift and learn from the best. In these times, double down - on your skills, on your knowledge, on you.
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