While the value-add of Blend (or Roostify) may have been obvious, I can tell you from 4 years in industry that the go-to-market definitely was not. (As I'm sure @patio11 would appreciate)https://twitter.com/patio11/status/1161021441673850880 …
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Hm. The only thing I know is from talking to people who worked at Blend and Roostify, investors who've evaluated them, employees we poached from them (
), and customers considering them, both buying and not-buying.
The key thing is that especially at the high end... -
...where Blend focuses their energy and attention, there's a ton of concentration. Very big banks, working with just a few, very powerful players who make Loan Origination software. Legacy LOS's in big mortgage banks, as you would imagine, are very sticky.
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