Blend Labs
Fintech SaaSUSA
New to Unitard
📉 Public < $1B
Peak $4 BillionToday
−93%
from peak
- 🦄Became a unicorn2020
- 📈Peak valuation$4 Billion ’21
- 💔Became a Unitard~2022
- 💸Last valuation~$296M
Current status
Public (BLND)
Live · BLND· NYSE
as of 2026-09-21
$1.25▼ 13.79% today
≈ $296 Million market cap · −92.6% from peak
The rise & fall
6 moments · 2012–2023The key moments, with employee sentiment along the way.
2012
2012
Founded to digitize the mortgage
Nima Ghamsari and co-founders set out to replace bank lending paperwork with software.
Wikipedia
2020
2020
Joins the unicorn club
A refi-boom Series F values the bank-software maker around $1.7B.
TechCrunch
Jul 2021
Jul 2021
The peak: a ~$4B IPO$4B
Blend lists on the NYSE with mortgage volumes at historic highs.
CNBC
2022
2022
Rates spike; mortgage volume vanishes
The refinancing wave that powered Blend's growth reverses as interest rates jump.
CNBC
2022
2022
Slips out of the club
With its core mortgage business shrinking, the market cap sinks below $1B.
Macrotrends
2022–23
From the inside · Glassdoor reviews, 2022–23
Glassdoor reviews from the post-IPO years traced the retrenchment from the inside: employees counted five layoff rounds in roughly 16 months, watched hundreds of colleagues go, and described repeated reorgs, frozen raises, and equity grants that lost much of their value as morale slid.
Today
Today
Still in the club — and still trading
Live · BLND · NYSEas of 2026-09-21
$1.25▼ 13.79% today≈ $296M cap · −92.6% from peak
💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.
How it happened
Blend Labs is a fintech SaaS provider of digital-lending and mortgage-origination software for banks, peaking at a ~$4B valuation around its 2021 IPO. A sharp slowdown in mortgage volumes amid rising interest rates hit its core business, and the stock fell steeply; it now trades around $0.35B, roughly 91% below peak.
Source: CMC May 2026
Founders
Current roles as self-reported on LinkedIn, retrieved 2026-08-21. See our methodology.
