Opendoor Technologies Inc. is an online company that buys and sells residential real estate. Headquartered in San Francisco, it makes instant cash offers on homes through an online process, makes repairs on the properties it purchases and re-lists them for sale.[4] It also provides mobile application-based home buying services along with financing. As of November 2021, the company operates in 44 markets in the US.[5]
History
The company was founded in March 2014 by serial entrepreneurs Keith Rabois, Eric Wu, who previously founded Movity, a real-estate startup acquired by Trulia,[6] and JD Ross, now a general partner at Atomic. After raising a $9.95m venture capital round led by Khosla Ventures in May 2014, the company began operations.[4] In 2018, Opendoor raised $400m in funding from the SoftBank Group