Tag Archives: Blend Labs

Blend Labs laying off 150 more workers on ‘path to profitability’

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The mortgage technology, title provider and cloud-based banking platform has eliminated more than 1,000 positions in five rounds of layoffs in the last 16 months. Continue reading →

As losses mount, Blend looks beyond mortgage for future growth

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The San Francisco-based cloud banking software provider has trimmed the company’s payroll by 1,100 employees and cut annual expenses by $72 million. Continue reading →

Blend announces more layoffs as cumulative losses surpass $1B

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The mortgage tech and title provider posted a $132.7 million net loss in the third quarter of 2022, with revenue falling 38 percent from a year ago to $55.3 million, according to an earnings call Thursday. Continue reading →

PNC Bank partners with Blend to digitize mortgage applications

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“Strategic partnership” is a win for mortgage tech and title insurance provider Blend, which has cut its workforce by about 25 percent this year and racked up an accumulated $995 million deficit. Continue reading →

Blend Labs sees Q1 loss soar by 167% as rising rates curb refis

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Blend’s net loss for the quarter — up 167 percent from a year ago — came despite a 124 percent year-over-year increase in revenue, to $71.5 million, according to an earnings call on Thursday. Continue reading →

Blend’s Q3 earnings take a hit as $54M in IPO compensation vests

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The cloud banking software developer raises full-year revenue guidance by $13 million as it signs new clients, launches new products and integrates Title365 acquisition. Continue reading →