Principal Product Manager, Opendoor
$197.6-247k
2-3 days a week in office
End-to-end online platform for selling and buying homes
Be an early applicant
End-to-end online platform for selling and buying homes
1001+ employees
Be an early applicant
$197.6-247k
2-3 days a week in office
1001+ employees
Company mission
To power life's progress one move at a time.
Role
Who you are
- 8+ years of tech industry product management experience
- Proven track record of building and delivering successful b2c/b2b products that scale, and customer experiences which delight
- Data-driven mindset with proven experience utilizing metrics & insights as tools for informed decision-making
- Outstanding storytelling and communication skills, with the ability to adapt your style as you work with others up, down, and alongside you in the organization
- Ability to leverage strong problem-solving and analytical skills to transform challenging user experience, business, and technology problems into actionable ideas
- Outstanding interpersonal and communication skills that bridge the gap between business and engineering
- Background in consumer-focused products, or products focused on SMB end-users
- Subscription service or SaaS experience preferred
What the job involves
- We are looking for a Principal Product Manager to help us reinvent the way people sell their home
- This is a high visibility role that will require strong partnership with engineering, product design, operations, and other cross-functional teams
- You’ll sweat the details, work side by side with the team, and lead with a high say/do ratio
- This is an opportunity to make a big impact on the lives of our customers, drive huge business value and define the future of real estate
- Define the roadmap and execute on initiatives focused on enabling a scalable, easy to use, and valuable experience for our partners and customers
- Be intimately connected and a champion for both our partners and customers
- Learn fast, fail fast mindset – move with speed levering lean methodology practices, while balancing short term partner opportunities with long term reusability and scale
- Own planning and end-to-end execution of features/programs working with business, product design, and engineering teams
- Leverage data and insights to drive quality partner and customer experiences
Our take
Opendoor makes selling homes easy and stress-free by cutting out the prolonged processing time usually involved with a sale. Sellers can offload a house quickly and easily to the company for cash and a 6-9% fee. Currently operating in a growing number of markets nationwide, Opendoor has chimed well with millennials who gel quickly with online businesses that offer solutions to problems they encounter.
This buying and selling model doesn't come without risk. The longer Opendoor keeps a property, the lower its profit margin. However, Opendoor's performance has been anything but disappointing; it went public in 2021, with its pre-SPAC merger presentation calling for $3.5 billion in revenue. Its actual revenue trounced it, coming in at $8 billion - more than double its estimate.
Opendoor's largest competitor Zillow dropped out of the space in late 2021 because it struggled to price the homes it acquired accurately. Opendoor's closest remaining competitor is Offerpad, which does just a fraction of the transaction volume that Opendoor does. With strong earnings coming out of 2024, if Opendoor can continue to ride on this success long term it will have an enormous lead on existing and future competitors, giving it a shot to become the overwhelming market leader.
Steph
Company Specialist at Welcome to the Jungle
Insights
-19% employee growth in 12 months
Company
Funding (last 2 of 8 rounds)
Mar 2019
$300m
SERIES F
Sep 2018
$400m
SERIES F
Total funding: $1.5bn
Company benefits
- Save for tomorrow: Select our Pre-tax or Roth 401k plans to save towards retirement
- Healthy healthcare: Medical, dental and vision is 100% covered for employees
- Family planning: We offer specialty programs like Carrot, Cleo & Ginger
- Flexible vacation: Most of our team take at least 20 days off per year to decompress and be their best
- Resource groups: Join the group that works for you
- Income protection: 100% company sponsored: life insurance short term and long term disability
- Other: Flexible spending account, commuter benefit, employee assistance programs, and paid parental leave
Company values
- Start and End with the Customer: We invent, build, and execute to improve the lives of our customers. We put in the hard work when no one is looking to delight customers
- Build Openness: We are open, honest, and direct about problems and seek the truth. We assume good intentions and treat feedback as a gift
- Startup Mentality: We move fast, operate with urgency, and bias towards action without sacrificing quality. We are relentlessly resourceful
- Results Matter: We focus on outputs and outcomes and hold ourselves accountable to hitting ambitious goals. We have a high quality bar and pay attention to the pixels, words, and results
- Act from Ownership: When we see a problem, we roll up our sleeves and fix it. We hold ourselves accountable because it’s our home and it’s our responsibility to take care of it
- 1% Better Every Day: We value a growth mindset and operate from a place of humility. We are energized by constantly improving
- One Team, One Dream: Our superpower is a diverse community that combines technology + operational excellence and talent + respect. We work through seams and we care for each other professionally and personally
- Celebrate Moments: We work tirelessly for our customers and teammates so we take the time to celebrate moments large and small
Company HQ
Financial District, San Francisco, CA
Articles
Leadership
Carrie Wheeler
(CEO)Initially joined Opendoor in 2019 as a Board Member, before becoming the CFO in 2020 and CEO in 2022. Previously a Partner and the Head of Retail and COnsumer Investing at TPG Capital as well as an Analyst at Goldman Sachs.
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