Sold to Brookfield's Maymont Homes for ~$1B in a Jan 2025 fire sale; common shareholders set to receive little or nothing
The rise & fall
7 moments · 2017–2025
The key moments, with employee sentiment along the way.
2017
🌱
2017
Founded in San Francisco
Adena Hefets' rent-to-own pitch: Divvy buys the house, tenants rent while building toward the mortgage.
TechCrunch
2021
📈
2021
The peak: a $2.3B Series D$2.3B
Andreessen Horowitz, Tiger Global and GGV price the model at zero-interest-rate exuberance.
TechCrunch
2022
2022
The rate spike breaks the model
A business built on buying thousands of homes with cheap money meets the fastest rate hikes in decades.
Bloomberg
2022
💔
2022
Out of the club
The 2021 price doesn't survive the new interest-rate math.
TechCrunch
2022–23
2022–23
Three rounds of layoffs in a year
The capital-intensive machine is dismantled piece by piece.
TechCrunch
2022–24
💬
From the inside · Glassdoor reviews, 2022–24
Glassdoor reviews called the cuts chaotic — one round announced on a Monday and executed that Wednesday, weeks after an extravagant company offsite — and described an unlimited-PTO policy nobody could actually use amid long hours, under tech-first leadership employees said lacked real-estate experience.
Jan 2025
🤝
Jan 2025
Acquired by Brookfield's Maymont Homes for ~$1B$1B
A fire sale 'for parts': liquidation preferences eat the proceeds, and common shareholders get little or nothing.
TechCrunch
💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.
How it happened
Divvy Homes was a rent-to-own proptech backed by Andreessen Horowitz, Tiger Global and GGV, reaching a $2.3B valuation in a 2021 Series D. The 2022 rate spike wrecked its capital-intensive model, forcing three rounds of layoffs within a year, and in January 2025 Divvy was sold 'for parts' to Brookfield's Maymont Homes for roughly $1B — common shareholders recovering little or nothing.
Source: TechCrunch / Bloomberg / Fast Company (rent-to-own proptech backed by Andreessen Horowitz, Tiger Global and GGV; last valued at $2.3B in a 2021 Series D; rising rates and three rounds of layoffs gutted it; sold to Brookfield's Maymont Homes for ~$950M-$1B in January 2025, with common shareholders expected to recover little or nothing due to liquidation preferences)
