Blend Labs laying off 150 more workers on 'path to profitability'
Mortgage technology, title provider and cloud-based banking platform has eliminated more than 1,000 positions in 5 rounds of layoffs in the last 16 months
by Matt Carter Aug 14
As losses mount, Blend looks beyond mortgage for future growth
San Francisco-based cloud banking software provider has trimmed the company's payroll by nearly 800 employees and cut annual expenses by $72M
by Matt Carter Mar 16
Blend announces more layoffs as cumulative losses surpass $1B
The mortgage tech and title provider posted a $132.7M net loss in the third quarter of 2022, with revenue falling 38% from a year ago to $55.3M, according to an earnings call Thursday
by Matt Carter Nov 11
PNC Bank partners with Blend to digitize mortgage applications
'Strategic partnership' is a win for mortgage tech and title insurance provider Blend, which has cut its workforce by about 25% this year and racked up an accumulated $995M deficit
by Matt Carter Sep 27
Blend cuts another 220 jobs as losses approach $1B
As cumulative losses climb toward $1B, co-founder Nima Ghamsari still plans to lead a 'once-in-a-lifetime industry transformation' powered by the mortgage tech and title insurance provider
by Matt Carter Aug 16
Blend Labs sees Q1 loss soar by 167% as rising rates curb refis
Blend's net loss for the quarter — up 167% from a year ago — came despite a 124% year-over-year increase in revenue, to $71.5M, according to an earnings call on Thursday
by Matt Carter May 13
Blend Labs laying off 200 employees as mortgage refinancings plummet
The mortgage tech provider's newly acquired title insurance business has been particularly hard hit by the end of the refinancing boom
by Matt Carter Apr 21
Lennar to spin off real estate tech investments
Through LENx division, homebuilder has invested in a portfolio of two dozen companies including Opendoor, Blend Labs, Divvy Homes and Doma
by Matt Carter Mar 18
The biggest mortgage, lending and housing finance stories of 2021
The rise of Power Buying, regulatory battles, Fed tapering and big acquisitions rattled lending decisions and homebuyer game plans during a momentous year for the mortgage industry
by Matt Carter Dec 29
Blend's Q3 earnings take a hit as $54M in IPO compensation vests
The cloud banking software developer raises revenue guidance as it signs new clients, launches new products and integrates Title365 acquisition
by Matt Carter Nov 10