$136.8-171k
End-to-end online platform for selling and buying homes
Open for applications
End-to-end online platform for selling and buying homes
1001+ employees
Open for applications
$136.8-171k
1001+ employees
To power life's progress one move at a time.
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To power life's progress one move at a time.
Few candidates hear
back within 2 weeks
-19% employee growth in 12 months
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
Mar 2019
$300m
SERIES F
Sep 2018
$400m
SERIES F
This company has top investors
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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