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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 relists them for sale. [2] It also provides mobile application-based home buying services along with financing.
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 ...
Opendoor agreed to pay $62 million to the Federal Trade Commission to settle allegations that it misled potential home sellers in its marketing campaigns.
However, the compamy bought 5% fewer homes in 2022 and 68% fewer homes in 2023. Its adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA ) margins also turned negative ...
In June 2019, Redfin began allowing buyers to submit offers on homes listed by Redfin's selling agents without using a buyer's agent. [10] A month later, the company partnered with Opendoor, whereby visitors to the Redfin website can request an offer to buy their houses from Opendoor. [11] In June 2022, the company announced layoffs of 8% of ...
In June, 2019 the company sold back the websites to founder Julie Carlson and husband Josh Groves and are now independently operated by Remodelista LLC. [31] As of 2016, Realtor.com claimed to display 97 percent of residential properties for sale in the United States, [32] and reportedly received 36.7 million unique monthly visitors. [4]
Real estate technology company Opendoor Technologies (NASDAQ: OPEN) stock dropped 32% in December, according to data from S&P Global Market Intelligence. Mortgage rates went back up after receding ...
If Opendoor matches analysts' estimates through 2026, grows its revenue at a CAGR of 10% over the following four years, and trades at 4 times sales, it could be worth $55 billion by the end of the ...