All articles tagged with #bettercom
Vishal Garg, ousted as Better Home & Finance (Better.com) CEO by a board led by Daniel Lewis, says he has the votes to reclaim the post and would work for $1 a year; Lewis has led the company since last week, investors have pushed back as the stock tumbled about 45%, while the company pivots to AI-driven mortgage processing with partners like Neo Home Loans, Intuit, Coinbase and OpenAI in a bid for profitability.
Vishal Garg, the founder and former CEO of Better.com famous for laying off 900 employees on a Zoom call before Christmas in 2021, says he was fired and replaced by hedge fund manager Daniel Lewis who had joined the board a week earlier; Garg alleges he was hoodwinked and is seeking reinstatement at $1 a year until profitability is restored, as the company pivots to restore growth and profitability.
Vishal Garg, the Better Home & Finance (Better.com) CEO ousted in a board shakeup after the infamous Zoom layoff, is pressing to return to the top job. He argues the company’s AI-driven mortgage-processing turnaround, including partnerships with Neo Home Loans, Intuit, Coinbase and OpenAI, has prepared Better for profitability, and he claims he has enough Class B voting power to win the board vote. Garg says he’ll work for $1 a year during the transition, while investors have soured and the stock has fallen since his predecessor’s arrival. The company has seen revenue collapse since 2021 but is reportedly on pace for about $200 million in sales this year as AI efforts accelerate.
Better.com's interim CEO Daniel Lewis spent his first full week on the job vacationing in the South of France as founder Vishal Garg mobilizes about 52% of voting power to oust Lewis and five directors. The insurgents have hired Quinn Emanuel and could push a shareholder vote within roughly 10–35 days. Garg was fired Aug. 3 and offered a vice-chair role, with the board alleging governance concerns and possible securities-law issues; Garg’s allies dispute the claims. Co-founder Nick Calamari was placed on administrative leave amid the upheaval. The turmoil follows years of upheaval after Garg’s 2021 layoffs, even as Better reports Q2 revenue of $54.7 million and a net loss of $30.6 million, with the company showing some improvement recently.
Vishal Garg, founder and former CEO of Better.com, famous for firing 900 employees on a Zoom call before Christmas in 2021, says he was ousted in August 2026 but is lobbying to reclaim the CEO role with investor backing, even offering to work for $1 a year. Better has pivoted to AI-driven mortgage processing and formed partnerships with Neo Home Loans, Intuit, Coinbase and OpenAI, boosting efficiency and loan volume, but the stock has fallen since the leadership change. Garg acknowledges past missteps while arguing the turnaround is near.
Vishal Garg, founder and former CEO of Better.com who fired 900 employees on a Zoom call just before Christmas in 2021 and was ousted this year, is seeking to reclaim the top job as he touts a turnaround built on AI mortgage processing and partnerships with Neo Home Loans, Intuit, Coinbase and OpenAI; investors have pushed back as the stock slid after the leadership change, but Garg says he has enough board support and would work for $1 a year to restore profitability.
Better.com teams with OpenAI to launch a ChatGPT-based app that automates underwriting checks, cutting mortgage underwriting from about 21 days to as little as 47 seconds and enabling lenders to move faster and cut costs, positioning Better as a mortgage-as-a-service tech platform for rivals like Rocket Mortgage and United Wholesale Mortgage.
Mortgage lender Better.com experienced a significant stock crash, with shares trading at a more than 90 percent discount just hours after going public. The company, which had built its business on fast home loans during the pandemic, has seen a decline in its business as mortgage rates rose and the housing market slowed. CEO Vishal Garg's controversial behavior towards staff, including laying off employees via Zoom and making derogatory remarks, has also contributed to investor concerns. Better.com is facing an SEC investigation and lawsuits from former business partners. Despite the challenges, Garg remains optimistic about the company's future.
Online mortgage lender Better.com, led by CEO Vishal Garg, experienced a disastrous debut on the stock market, with its shares plummeting over 90% in a single trading session. Garg, who previously made headlines for mass-sacking employees over Zoom, had hoped for a successful public listing but instead saw investor capital vaporized. The company's CFO defended the reverse merger with Aurora Acquisition Company, stating that it secured much-needed cash to navigate the challenging mortgage market. Despite the steep decline, the CFO expressed confidence in building long-term value for shareholders.
Online mortgage lender Better.com is set to make its public debut on the Nasdaq Capital Market under the ticker symbols "BETR" and "BETRW" after merging with SPAC Aurora Acquisition Corp. The company has raised about $565 million in fresh capital, including a $528 million convertible note from SoftBank affiliates. Better.com, which has faced financial losses and reputational damage, aims to use the funds to grow its business, improve technology, and weather the challenges of the mortgage market. CEO Vishal Garg acknowledges the need for leadership training and rebuilding trust within the company.