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Some shareholders of a16z-backed Divvy Homes may not see a dime from $1 billion sale
The $1 billion acquisition of rent-to-own startup Divvy Homes, which was announced yesterday, is expected to leave some shareholders without any return on their investment. Sources familiar with the deal revealed that certain investors will not receive a single dollar back.
This unexpected outcome comes after years of difficulties for the company, including a struggle to navigate rising interest rates. Despite cost-cutting measures and other efforts, Divvy Homes was unable to find a way forward amidst these challenging market conditions.
In a statement, CEO Hefets acknowledged the financial outcome, stating that she is not proud of it but is still proud of the positive impact the company had on its customers’ lives.
Source: techcrunch.com
