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Stock impact report

Blend's post-IPO reset: CEO Nima Ghamsari bets that AI can turn it all around [Fortune]

KKR & Co. Inc. (KKR) 
Last kkr & co. inc. earnings: 1/31 06:50 am Check Earnings Report
US:NYSE Investor Relations: ir.kkr.com
Company Research Source: Fortune
The company, founded in 2012 by Ghamsari, set out in the wake of the financial crisis to make applying for a mortgage “as easy as buying something online.” It now builds white-label software that powers digital loan applications at major U.S. banks and credit unions across mortgages and other consumer banking products. The company rode the last boom to a 2021 IPO and a market cap north of $4 billion , but then rising rates crushed mortgage volumes and exposed how much of its growth had been surfing a once-in-a-generation tailwind. Now, that market cap is hovering at $437.10 million. “It probably gave me an inflated sense of how well I was executing,” Ghamsari told Fortune of that era. His biggest realizations post-IPO: “I had overestimated my operating ability” and had to “go back to first principles” as multiples, mortgage volumes, and key banking customers like First Republic disappeared. For Blend, which went public (and remains so) near the peak of both fintech multiples and Show less Read more
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