Vishal Garg is fighting to reclaim Better’s CEO job after his Aug. 3 ouster, saying the company was nearing a turnaround and profitability after losses.
Better [Home & Finance] later faced a whistleblower lawsuit that was dropped, a Securities and Exchange Commission investigation that produced no action, and a disastrous 2023 SPAC merger. The company’s stock fell 93% after the merger, while losses continued to mount.
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Better’s annual sales dropped from $1.5 billion in 2021 to $70 million in 2023. Garg says the company is now on track for $200 million in sales this year.
Better grew into a booming refinance market and did not have a gameplan for a return to “organic” home sale volumes. Having been on some of “those” zoom calls; Vishal comes off as a coked up, egotistical clown. He gives the vibe of projecting an air of being a sommelier but instead of wine it’s just him in a closet wafting farts.
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That’s, uhhh, quite a drop.
Better grew into a booming refinance market and did not have a gameplan for a return to “organic” home sale volumes. Having been on some of “those” zoom calls; Vishal comes off as a coked up, egotistical clown. He gives the vibe of projecting an air of being a sommelier but instead of wine it’s just him in a closet wafting farts.
They peaked at $8 Bn during the pandemic, too