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Opendoor Technologies Inc. agreed to pay $62 million to the Federal Trade Commission to settle allegations that it misled potential home sellers in its marketing campaigns.
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Opendoor reported $1.5 billion in revenue in the second quarter, or an annual run rate of $6 billion on about 4,000 homes sold. Let's assume Opendoor can double its revenue in a healthier housing ...
In November 2022 Opendoor cut 18% of its workforce, or 550 jobs. [20] Ahead of its 2020 IPO, the company's market cap was around $18 bn. That cap in early 2023 was slightly above $1 billion. [26] Opendoor cut 22% of its workforce in April of 2023, or roughly 560 positions mostly in the company's operations unit, citing a declining housing market.
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