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About
Opendoor simplifies the buying and selling of homes in the U.S. residential real estate market. For sellers, the process begins with requesting a cash offer by providing property details. Opendoor uses its algorithms and market data to generate a competitive offer, allowing sellers to bypass traditional listing and negotiation hassles. For buyers, Opendoor offers a platform to browse homes and schedule self-guided tours, with the option to use their own agents. The company earns revenue through service fees from sellers and potential appreciation from reselling homes. Opendoor's goal is to make real estate transactions more efficient and less stressful, while expanding its presence across various U.S. cities.
Company Stage
N/A
Employees
1,001-5,000
Industries
Data & Analytics, Real Estate
Total Funding
$2B
Headquarters
N/A
Founded
2014
Simplify's Take
What believers are saying
- Opendoor's inclusion as a finalist for the 2024 Inman Innovator Award highlights its industry recognition and potential for continued innovation.
- The partnership with My State MLS expands Opendoor's reach, providing access to over 60,000 agents and enhancing its market presence.
- Opendoor's resilience in navigating a volatile market environment demonstrates its robust business model and adaptability.
What critics are saying
- The competitive nature of the real estate market requires Opendoor to continuously innovate to maintain its edge.
- Recent layoffs and the closure of a smaller headquarters may indicate financial pressures and operational challenges.
What makes Opendoor unique
- Opendoor's technology-driven approach and proprietary algorithms for generating competitive cash offers set it apart from traditional real estate models.
- The company's user-friendly platform for self-guided tours and online transactions offers unparalleled convenience for home buyers.
- Opendoor's ability to provide quick cash offers and eliminate the traditional hassles of home selling appeals to sellers needing fast transactions.
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6 month growth
↓ -11%1 year growth
↓ -9%2 year growth
↓ -20%Benefits
Happier workdays - Add a little fun to your workday with Pendo board game night, team karaoke, ping pong, or enjoy a local brew on our rooftop deck.
Health and wellness benefits - Generous health and wellness plans designed to meet the needs of you and your family, including medical, dental, and vision benefits.
Paid parental leave - Up to 16 weeks of paid parental leave, and a flexible schedule upon your return to help you make the most of those special moments.
Learning and development - In-house management development classes, guest speaker lunch and learns, and select conferences help keep talent sharp.
Flexible work hours and PTO - Enjoy the benefits of a flexible time off policy, flexible work hours, and paid parental leave.
Global offices - Work across the globe in the cities that we love like Raleigh, San Francisco, New York, Herzliya, Tokyo, London and Sheffield.
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