Sharma, who said he’s been advising CEO Vishal Garg for the past few months out of the firm’s Bay Area office, will lead user acquisition efforts in a role he described as a combination of chief marketing and chief experience officer posts. He is a former chief product officer at LendingTree and at online dating service Match where he helped the company go public, according to Better, which has its own
Thursday’s hiring announcement arrived in the midst of a tumultuous period for the company, with
Better’s new leadership hires in marketing, human resources and real estate divisions, among others, is a comforting sign of maturation, Sharma said. The chief growth officer declined to speak about Better’s pending merger with a special purpose acquisition company but in an interview with National Mortgage News, discussed why he chose Better and whether more layoffs are expected, while also defending Garg’s leadership.
Questions and answers have been edited for length and clarity.
What made you want to join Better.com?
With the current atmosphere of rising interest rates and reduced mortgage volume, when do you think homebuyer demand will rebound?
Will Better undertake more layoffs?
In leadership meetings, we all are aligned. You can't grow by incurring costs, you have to drive revenue, right? So I think the state where we are, we feel we're fairly comfortable with the headcount as per what our perception of the market is. Based on our outlook of the market, I think most of those large scale headcount adjustments are behind us.
CEO Vishal Garg has been scrutinized over his behavior, and a recent lawsuit alleges he misled investors. What are your thoughts on Vishal and his leadership?
I think in our case, we just get a disproportionately higher amount of press. Like I've seen in startups, once you scale up then you have to start bringing seasoned leaders in the mix. With Vishal, I think he's also learning as part of managing at a larger scale. He's a hands-on entrepreneur, always with energy and passion. He speaks whatever is on his mind, but I think if there is anything, I'm sure he's learning as part of what broader leadership is. Now I think the team is fairly seasoned where Vishal doesn't have to do every small thing in the company.
The recent leadership hires include a lot of veterans of major companies. How will that help the company?
Is Better’s internal culture on the right track?
People think about us just as a fintech. We think about what we're trying to solve, homeownership. The more successful we are, the more people get homes. It's not just a financial transaction. We look at that outcome being more like 5-to-10 years from now, if we are able to achieve our goal, or the industry overall is able to achieve, then homeownership and affordability in the U.S. will increase substantially.