End-to-end online platform for selling and buying homes
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To empower everyone with the freedom to move by giving people an easy way to buy, sell, and trade in their homes.
Financial District, San Francisco, CA
Few candidates hear
back within 2 weeks
57% employee growth in 12 months
CTO of Otta
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 2022, 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.
Last 2 fundraises
This company has top investors
Having studied at the University of Arizona, Eric founded the Real Estate Fund in 2002, before co-founding RentAdvisor.com and Movity.com. He served for 2 years as Head of Geo/Social Products at Trulia.com before co-founding Opendoor in April 2014.
Opendoor is hiring for 3 jobs on Otta!
People, HR, Recruitment
Sales & Account Management