She argues that Divvy is unique because it lets customers choose their own homes, rather than placing them in undesirable housing, and that it has rectified instances of dissatisfaction. “I think the industry has a truly terrible reputation, and rightfully so,” says Hefets, who holds degrees from Cornell and Stanford, and a résumé spanning from Square to Goldman Sachs. Already the company has received some skeptical press coverage.
#Divvy homes reviews series
“Over the next ten years we believe they could help over 100,000 families become financially responsible homeowners,” says Scott Shleifer, a partner at Tiger Global, which led the Series C.Īs the company grows, Hefets will have to prove that Divvy is different than many of its rent-to-own peers, which are often seen as predatory, with exploitative rates and low-quality housing. Divvy competes against many regional firms, as well as Home Partners, Dream America and others.
She declined to confirm the company’s current valuation, though it was valued at $163 million as of June 2019, according to PitchBook. Annual revenue is well above $20 million, Hefets says. We encourage everyone to take advantage of our Monthly Mental Health Days, which are covered under our flexible PTO policy, and also to utilize our benefits like Modern Health (16 sessions of therapy and coaching support.Divvy is operational in 16 markets, with plans to expand to 20 by year’s end, thanks in part to the new funding. We believe in transparency and want critical messages coming directly from our CEO and other Executives.Īs it relates to work-life balance, we never want our employees to feel burnout.
Unfortunately, this meant that there was a delay from the announcement to when individuals would find out if they were impacted as we looped in management and finalized decisions. We felt that it was beneficial to our team to move forward with the offsite and give them the opportunity to be together in person.Īs we communicated to employees during the layoff process, our CEO wanted all employees to be informed of layoffs by her directly, without it leaking from the press or other sources.
While we agree it was not optimal to have a company retreat before layoffs, the event had been planned 8+ months prior and we had already invested the budget. We did, unfortunately, make the decision to lay off a portion of our team in early October due to macro economic headwinds caused by rising interest rates. But the way it happened was poor form and has tainted all of my time there hustling for their mission. I don't fault Divvy for having to let people go, I get that it is circumstance across industries right now. I missed family events, dinners with my spouse, and so many important things to show up for this company and work 80+ hour weeks only to be dropped. I hustled SO (so so so so ) hard during the boom of 2021 only to be let go the second things turned downwards with just a month of severance. At the end of the day I feel completely used and unappreciated by this company. This led to so much anxious back channeling across teams and departments. Many people realized that by looking at the overlap between their manager's cal and their exec's cal you could tell how any people were being laid off from your team. To add to the sloppiness, we could all see the multiple 10 minute 'private' time slots on our exec's calendars a day before they let us know. They put myself and my peers in a horribly anxious place awaiting an ominous calendar invite that would come by Wednesday morning if your role was being impacted. The layoffs were announced on a Monday and not executed until that Wednesday. TBH, I left the offsite thinking we must have been doing pretty good given the amount of money that was spent on that (read: excess booze and drinking). This rating has decreased by -5 over the last 12 months. 90 of employees would recommend working at Divvy Homes to a friend and 91 have a positive outlook for the business. I turned around at one point and saw an exec pouring tequila shots in people's mouths. Divvy Homes has an overall rating of 4.5 out of 5, based on over 65 reviews left anonymously by employees. According to Divvy, the buyback price is around 5-15 higher than Divvy’s original purchase price. First off, the company had a lavish offsite just a couple weeks before this happened. The layoff process that just took place could not have been handled more poorly.
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