Exclusive: Andreessen-Backed Divvy Homes Lays Off 12% of Staff as Rates RiseView Now

From left, DataRobot executives Tom Levey, former CEO Dan Wright and CFO Damon Fletcher. Fletcher and Levey are departing. Art by Mike Sullivan

DataRobot’s CFO, Three Other Senior Execs Depart Amid Fallout Over Share Sales

Photo: From left, DataRobot executives Tom Levey, former CEO Dan Wright and CFO Damon Fletcher. Fletcher and Levey are departing. Art by Mike Sullivan

The chief financial officer and several other senior executives at artificial intelligence startup DataRobot have resigned as the company prepares a second round of layoffs this year, according to two people with knowledge of the situation. The changes, announced internally in a meeting, are the latest sign of an ongoing leadership shakeup following last month's resignation of CEO Dan Wright amid an internal outcry following a report in The Information about executives quietly selling shares last year when the 1,200-person company hit a peak valuation, these people said.

The departing executives include Chief Financial Officer Damon Fletcher and Chief Go-To-Market Officer Tom Levey, both of whom sold shares alongside Wright last year. The other two departing executives are Chief Product Officer Nenshad Bardoliwalla and Chief People Officer Elise Leung Cole, the people said.

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Andreessen-Backed Divvy Homes Lays Off 12% of Staff as Rates Rise
Adena Hefets, co-founder and chief operating officer of Divvy Homes Inc. Photo: Bloomberg
Divvy Homes, a property tech startup backed by Andreessen Horowitz and Tiger Global Management, laid off about 12% of its staff Tuesday. The cuts reflect how younger real estate firms are responding to rising mortgage rates that have battered the home-buying market. The layoffs affected roughly 40 employees at the five-year-old firm. Divvy Homes buys homes in the U.S. and rents them to people...
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