Latest news with #Divvy
Chicago Tribune
18 hours ago
- Sport
- Chicago Tribune
Today in Chicago History: Divvy debuts downtown
Here's a look back at what happened in the Chicago area on June 28, according to the Tribune's archives. Is an important event missing from this date? Email us. Weather records (from the National Weather Service, Chicago) Vintage Chicago Tribune: Chicago Cubs who have hit for the cycle1950: The Chicago Cubs' Roy Smalley hit for the cycle against the St. Louis Cardinals. Vintage Chicago Tribune: Pelé, Hamm, Beckham, Rapinoe, Messi and more. When soccer's big names came to play1998: With hundreds of young fans screaming her name, Mia Hamm notched her eighth career hat trick — three goals in a 20-minute span — when the United States women's national team defeated Germany 4-2 at Soldier Field. 2010: Decades after torture allegations were first leveled against former Chicago police Cmdr. Jon Burge's 'Midnight Crew,' a federal jury convicted him on all three counts of obstruction of justice and perjury for lying in a lawsuit about the torture of suspects in attempts to obtain confessions. He was sentenced to prison and released in 2014. Burge died in 2018. Also in 2010: The U.S. Supreme Court ruled Chicago's gun ban was 'unenforceable,' stating Americans nationwide have a constitutional right to have a handgun at home for self-defense, even in cities which until then had outlawed handguns. Yet, the court stopped short of overturning the ban. 2013: Divvy began its bicycle-sharing program in Chicago. Community group retrieves over 60 Divvy bikes from Lake Michigan since JuneThere were some initial technical glitches, but its operations expanded from 68 docking stations to a presence in every city ward. 2019: Cookie Monster from 'Sesame Street' visited the Art Institute of Chicago, Wrigley Field, The Bean and Navy Pier to celebrate the program's 50th anniversary. 'I'm excited to have Cookie Monster in Chicago, going to all the landmarks and taking pictures. … My Chicago home and my 'Sesame' work life are coming together,' said Highland Park resident David Rudman, puppeteer of Cookie Monster for 20 years. Also in 2019: Gov. JB Pritzker signed the Illinois Gaming Act into law, looking to bring in an additional $350 million in annual state revenue, and opening the door to sports wagering and other growth opportunities for gambling operators. Subscribe to the free Vintage Chicago Tribune newsletter, join our Chicagoland history Facebook group, stay current with Today in Chicago History and follow us on Instagram for more from Chicago's past.
Yahoo
27-01-2025
- Business
- Yahoo
Once valued at over $2B, rent-to-own startup Divvy Homes is selling to Brookfield for about $1 billion
After a turbulent few years for companies operating in the real estate market, Divvy Homes announced Wednesday that it is getting acquired by a division of Brookfield Properties for "a total consideration" of about $1 billion. The outcome may not be the fire sale as previously described in other reports, although it is less than the $2.3 billion that Divvy was last publicly valued at in 2021. The deal is expected to close in mid-February. (Reporter's note: After this story was published, TechCrunch learned that some Divvy shareholders may not receive proceeds from the acquisition, according to a letter from CEO and co-founder Adena Hefets that was viewed by TechCrunch.) Divvy operated a rent-to-own model in which it worked with renters who wanted to become homeowners by buying the home they wanted and renting it back to them for three years while they built 'the savings needed to own it themselves,' it said. The company ran into some hiccups when mortgage interest rates began to surge in 2022, conducting three known rounds of layoffs in a year's time. Founded in 2016, the once-buzzy startup had raised more than $700 million in debt and equity from well-known investors such as Tiger Global Management, GGV Capital, and Andreessen Horowitz (a16z), among others. Divvy's last known funding occurred in August 2021 — a $200 million Series D funding led by Tiger Global Management and Caffeinated Capital. The Series D round was announced just six months after a $110 million Series C. Maymont Homes, the Brookfield unit that is buying Divvy, operates in over 40 markets across the United States. In a written statement, Divvy said it has 'created 2,000 homeowners to date.' Want more fintech news in your inbox? Sign up for TechCrunch Fintech here. Want to reach out with a tip? Email me at maryann@ or send me a message on Signal at 408.204.3036. You can also send a note to the whole TechCrunch crew at tips@ For more secure communications, click here to contact us, which includes SecureDrop and links to encrypted messaging apps. Sign in to access your portfolio
