Principal Product Manager, Divvy
$208-218k
+ Equity
Helping people become homeowners
Job no longer available
Helping people become homeowners
201-500 employees
Job no longer available
$208-218k
+ Equity
201-500 employees
Company mission
To make homeownership accessible to everyone.
Role
Who you are
- 8+ years of product management experience
- Demonstrated track record of product leadership with an ability to lead and influence teams
- Proven track record of translating customer needs into product features and solutions
- Highly analytical and comfortable making data-driven decisions while balancing the right approach for our community
- Ability to quickly absorb technical concepts and communicate them to a non-technical audience
- Ability to orchestrate across teams, both yours and others, to build and execute complex business plans and strategies
- Exceptional communication skills at all levels, from individual and team-level, up to C-suite
What the job involves
- We are looking for a Principal Product Manager to join our team
- This role will focus on driving operational efficiency as we manage our large portfolio of single family homes across the United States
- Our vision is to develop a technology platform that allows us to scale how we manage our homes and our residents
- This role will help in defining this platform, focus areas can include:
- Optimizing a customer’s experience at the end of their leases (e.g. buybacks, move-outs, re-leases)
- Building internal tools that drive greater efficiency for our operations teams as they “turn” a home (e.g. re-Divvy, execute a buyback, repair/maintain the vacancy)
- Defining a data-driven model for what an ideal outcome is for a home (e.g. updating how we think about LTV and forecasting)
- Establish the product vision and strategy for your business area
- Develop product roadmaps and build alignment across product teams, cross-functional partners (Finance, Sales/Marketing, Operations, Customer Support, etc.) and the Leadership/Executive team
- Implement best in class product development and management practices
- Exceptional team-player that is willing to wear all hats
Our take
As mortgage rates have dropped to historic lows in recent years, banks tightened property purchase requirements, making the process more restrictive and complex for future homeowners. For this reason, homeownership has become even more inaccessible.
Utah-based Divvy provides a homeownership system that buys houses and rents them back to users to help them access equity for mortgage affordability. Customers choose a home which Divvy purchases on their behalf, with the customer providing up to 2% of upfront value. Renters can then cash out their equity to purchase the home within a three year period, or renew their contract.
In 2021 company was acquired by Bill.com for roughly $2.5 billion and with a network of 25,000 real estate professionals. However since then a cooling real estate market and operational issues leading to higher than market rents and inefficient servicing of its properties has hit the company. It has responded with a restructuring, reducing its headcount to align with market conditions and focus on its core activities. With plenty of runway and a positive revenue it seems likely Divvy will overcome the current difficulties affecting the company and the broader proptech sector.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
142% employee growth in 12 months
Company
Funding (last 2 of 5 rounds)
Aug 2021
$200m
SERIES D
Feb 2021
$110m
SERIES C
Total funding: $390m
Company benefits
- 100% remote first culture, with an onsite option at our San Francisco or Denver offices
- Prioritizes health & wellness with flexible PTO, monthly mental health day, generous leave policies and company-sponsored Modern Health coaching and therapy sessions
- Competitive salary + equity
- 90% paid medical benefits for you and your dependents (medical, dental, vision)
- 401k match & access to a financial planner
- $1,000 professional development stipend
- One-time $350 remote workspace allowance
- $250 monthly co-working space stipend
- 16 weeks paid parental leave & flexible return to work
- Recognized as Time 100’s most influential companies of 2022 & a Great Place to Work
Company HQ
Yerba Buena, San Francisco, CA
Leadership
Adena Hefets
(CEO)Prior to founding Divvy Homes, they invested in early stage companies at DFJ, where they led their fintech investing practice. They started their career as an operator, being one of the early Product Managers at Square, where they helped build and grow Square Capital.
Brian Ma
(Board member)They are an entreprenuer and investor. Before co-founding Divvy, they founded Weave, a professional networking service. Brian was also the founder at Decide.com, an ecommerce price predictions enterprise, acquired by Ebay.
Nicholas Clark
(CTO)Former CTO of DoubleDutch, the first and only provider of cloud-based geosocial mobile applications for the enterprise. Prior to DoubleDutch, they were a Senior Development Engineer at Microsoft, working on Internet Explorer for 5 years, and Bing Mobile for 1 year. While at Microsoft, Nicholas founded and operated MobileSrc, a mobile development shop.
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