Divvy Homes
- 🦄Became a unicorn2021
- 📈Peak valuation$2.3 Billion ’21
- 💔Became a Unitard2022
- 💸Last valuation~$943M
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. Glassdoor reviews from that stretch called the cuts chaotic — one round announced on a Monday and executed that Wednesday, weeks after an extravagant company offsite, leaving staff in limbo. Many also faulted an unlimited-PTO policy no one could use amid long hours and a tech-first leadership they said lacked real-estate experience.
Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.
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)
