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Better.com loses three more senior executives, including SVP and VP of sales

In the wake of its mass layoffs debacles, Better.com loses three more senior executives.

  • Posted on 21st Jun, 2022 21:03 PM
Better.com loses three more senior executives, including SVP and VP of sales Image

Three more senior executives of digital mortgage lender Better.com have resigned, multiple sources tell TechCrunch.

Those three executives are: Jillian White, general manager of Better’s affiliate businesses known as Better+, which consists of its title/settlement, insurance and home inspection departments; Megan Bellingham, who was senior vice president of sales and operations and John Moffatt, who served as vice president of sales.

Moffatt confirmed his resignation but declined to comment further. White and Bellingham have not responded to requests for comment, and neither has Better.com itself.

Liz Bowyer, who was the company’s vice president of content strategy, also parted ways with the company this month but details around her departure are not yet known.

White, Bellingham and Moffatt had been at Better for at least six years, and their departures are yet another blow to the embattled startup, which has made headlines over the past several months – starting in December 2021 with one of several mass layoffs.

That first round of layoffs — which affected about 900 people — as well as subsequent workforce reductions, have led to a host of issues for the company. Those issues combined with a challenging macroenvironment, including higher mortgage interest rates and a slowed housing market, have resulted in Better.com delaying its SPAC indefinitely, plus a plethora of bad publicity and several other executive resignations.

TechCrunch in February reported that Sarah Pierce, who served as executive vice president of customer experience, sales and operations, and Emanuel Santa-Donato, who was senior vice president of capital markets and growth, were no longer with the digital mortgage company. Pierce had been with Better.com since August 2016, when she started as a “growth associate.” Santa-Donato joined the company in January 2016 as a “capital markets associate.”

Their departures followed those of three other executives who left the company in December in the wake of the layoffs: Patrick Lenihan, the company’s VP of communications; Tanya Gillogley, head of public relations; and Melanie Hahn, head of marketing.

The company’s CTO, Diane Yu, in April transitioned from her leadership role to an advisory position.

Earlier this month, Pierce filed a lawsuit against Better.com alleging that the company and its CEO Vishal Garg misled investors when it attempted to go public via a SPAC.

When Pierce parted ways with the company earlier this year, it was not clear if she left voluntarily or was asked to resign but Pierce indicated in her suit she was pushed out. 

In her lawsuit, according to the Wall Street Journal, Pierce alleged that Better.com misrepresented its business and prospects so that it could move forward with a SPAC that would have given the company a post-money equity value of approximately $7.7 billion. The SPAC was delayed and has not yet taken place.

Better.com’s move to lay off about 900 employees via a Zoom video call on December 1, 2021, ended up going viral. It was hardly the first company to lay people off over Zoom during a global pandemic, but it was the manner in which it was handled that offended so many.

Co-founder Garg was universally criticized for being cold and unfeeling in his approach. He also added insult to injury days later by publicly accusing affected workers of “‘stealing’ from their colleagues and customers by being unproductive.”

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