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OpenDoor

OpenDoor

OpenDoor is a San Francisco-based real estate technology company offering virtual and streamlined real estate buying and selling founded in 2014 by Keith Rabois, Eric Wu, JD Ross and Ian Wong.

OpenDoor is an operator of an online real estate marketplace intended to simplify home buying and selling. The company's marketplace helps sellers to receive an offer without listing or showing their home and buyers to browse for homes on sale and instantly unlock them using the company's application, enabling customers to buy and sell properties in a hassle free way.

OpenDoor allows home sellers to request an offer from OpenDoor by sending them their address and give them details on their home. OpenDoor returns with an offer based on the home's features and market trends which the home seller is given twenty-four hours to review. If the home sellers accept the offer, OpenDoor completes a home assessment and rather than ask the sellers to repair anything which appears in the assessment, they deduct the costs from the sale proceeds of the home. As part of this process, the home sellers get to choose their close date and receive their proceeds from the sale of their home in a matter of days.

Home buyers can browse listings on the OpenDoor app, and in certain markets schedule a tour with a tour-assistant. OpenDoor helps sellers finance the purchase of their home and offers state-specific discounts through their OpenDoor Home Loans. They also offer discounts when buying with an OpenDoor Home Advisor or partner agent. And OpenDoor offers buyers a 90 day guarantee where they will buy back the house.

Timeline

March 20, 2019
OpenDoor raises a $300,000,000 series E round from GGV Capital, General Atlantic, Hawk Equity, Khosla Ventures, Lennar Corporation, New Enterprise Associates, Norwest Venture Partners and SV Angel.
September 27, 2018
OpenDoor raises a $400,000,000 series E round from SoftBank Vision Fund.
June 13, 2018
OpenDoor raises a $325,000,000 series E round from General Atlantic.
June 2018
OpenDoor raises a $325,000,000 series E round from 10100, Access Technology Ventures, Andreessen Horowitz, Coatue Management, GGV Capital, General Atlantic, Invitation Homes, Khosla Ventures, Lakestar, Lennar Corporation, New Enterprise Associates and Norwest Venture Partners.
December 1, 2016
OpenDoor raises a $210,000,000 series D round from Norwest Venture Partners.
December 1, 2016
OpenDoor raises a $210,000,000 series D round from Access Industries, Caffeinated Capital, Felicis Ventures, Fifth Wall Ventures, GGV Capital, Khosla Ventures, Lakestar, New Enterprise Associates, Norwest Venture Partners and SVB Capital.
October 14, 2015
OpenDoor raises a $80,000,000 series C round from Access Industries, Andy Rankin, Caffeinated Capital, GGV Capital, Khosla Ventures and SVB Capital.
February 26, 2015
OpenDoor raises a $20,000,000 series B round from Caffeinated Capital, GGV Capital, Khosla Ventures, Sherpa Capital, Solon Mack Capital, Thrive Capital and haystack.
July 7, 2014
OpenDoor raises a $10,000,000 series A round from Aaron Levie, Alexis Ohanian, Arjun Sethi, Charlie Cheever, Dan Rose, Dave Morin, David Sacks, EVA Automation, Elad Gil, Felicis Ventures, Garry Tan, Gideon Yu, Harjeet Taggar, Jeff Seibert, Jeremy Stoppelman, Joe Greenstein, Karim Elsahy, Kevin Hartz, Khosla Ventures, Max Levchin, Mike Greenfeld, Naval Ravikant, Oliver Thylmann, Raymond Tonsing, Resolute Ventures, Rick Marini, SV Angel, SierraMaya360, Signatures Capital, Slow Ventures, Thrive Capital, Trevor Traina, True Ventures, Tuesday Capital, Wayne Chang and Y Combinator.

Funding rounds

People

Name
Role
LinkedIn

Aaron Batalion

Investor

Adam Nash

Investor

Adam Schwartz

Investor

Alex Moskalyuk

Investor

Alexis Ohanian

Investor

Anabel Lippincott

Employee

Andy Rankin

Investor

Ash Fontana

Investor

Ben Davenport

Investor

Ben Provan

Founder

Benjamin Gadbaw

Investor

Beth Stevens

Employee

Brad Feld

Investor

Brent Goldman

Investor

Brett Jackson

Investor

Brew Johnson

Investor

Bryant Detwiller

Investor

Carolyn Wang

Employee

Celeste Encinas

Employee

Charlie Cheever

Investor

Cinthia Rodriguez

Employee

Collin Wong

Employee

Cuong Pham

Employee

D. Inder Comar

Attorney

Dave Morin

Investor

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Further reading

Title
Author
Link
Type
Date

Opendoor files to raise another $200M at a $3.7B valuation, documents show

Web

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Charlize Alcaraz
September 13, 2021
BetaKit
Opendoor acquires Toronto-based startup Skylight, a home remodelling company powered by technology, amid expansion in hiring into Toronto and Vancouver.
Mary Ann Azevedo
September 1, 2021
TechCrunch
Flat.mx, which wants to build a real estate "super app" for Latin America, has closed on a $20 million Series A round of funding. Anthemis and 500 Startups co-led the investment, which included participation from ALLVP and Expa. Previously, Flat.mx had raised a total $10 million in equity and $25 million in debt. Other backers [...]
Mary Ann Azevedo
August 26, 2021
TechCrunch
When Jessica Ko was head of design at Google and then Opendoor, she realized that her teams spent about 90% of their time digging around Dropbox looking for assets. In many cases, they'd find older versions. Or they couldn't find what they were looking for. Or even worse, they'd accidentally pick the wrong asset. "It [...]
Joanna Glasner
April 23, 2021
Crunchbase News
We have formulas galore for valuing fast-growing, money-losing companies in hot sectors. But at the end of the day, there's one metric that matters: How much are investors willing to pay?
Alex Nicoll
February 17, 2021
Business Insider
Nomad emerges from stealth mode Wednesday. The plan: Guarantee rent to small landlords, regardless of vacancy. For a price.
Meghan Morris
January 2, 2021
Business Insider
Big funding and explosive sales growth didn't translate into a path to profits. Startups that burned through cash are now facing a reckoning.
Sophia Kunthara
December 21, 2020
Crunchbase News
The company's stock opened at $31.47 on Monday morning.
Tom Willerer
December 16, 2020
Business Insider
The pandemic upended decades of status quo home buying. Tom Willerer shares two trends he's banking on seeing more of next year.
Berber Jin
November 27, 2020
Business Insider
Founders Fund's Keith Rabois made early bets on Airbnb and DoorDash, even as other VCs wrote them off. This is why he believed in them from the start.
Connie Loizos
April 15, 2020
TechCrunch
Opendoor, the seven-year-old, San Francisco-based company that has from the outset aimed to help people buy and sell homes with the "push of a button" or nearly, just laid off more than a third of its staff. According to a statement sent to us by cofounder and CEO Eric Wu, the company has laid off [...]
Anna Escher
January 3, 2020
TechCrunch
Loft may have better product market fit in Brazil than Opendoor does in the U.S.. And now the São Paulo-based property tech company has growth funding to prove it. Andreessen Horowitz is doubling down on its first Brazil investment with Loft, a two-year-old real estate marketplace. The $175 million Series C was co-led by Vulcan [...]
Kate Clark
October 14, 2019
TechCrunch
Opendoor has named Gautam Gupta chief financial officer and chief business officer.
ATTOM Data Solutions
April 19, 2019
www.prnewswire.com:443
IRVINE, Calif., April 19, 2019 /PRNewswire/ -- ATTOM Data Solutions, curator of the nation's premier property database and first property data provider of...
Kate Clark
Invalid Date
TechCrunch
TechCrunch - Reporting on the business of technology, startups, venture capital funding, and Silicon Valley

References

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