About Company

​Opendoor Technologies Inc. is a U.S.-based real estate company founded in 2014 by Eric Wu, Keith Rabois, Ian Wong, and JD Ross. Headquartered in San Francisco, Opendoor pioneered the "iBuyer" model, enabling homeowners to sell their properties directly to the company through an online platform, facilitating quick and convenient transactions without traditional showings or agent commissions. The company purchases homes, makes necessary repairs, and then resells them, aiming to streamline the real estate process. Opendoor went public in December 2020 via a merger with Social Capital Hedosophia Holdings Corp. II, a special-purpose acquisition company (SPAC), and is now traded on the NASDAQ under the ticker symbol OPEN. As of 2024, Opendoor operates in over 40 U.S. markets and employs approximately 1,470 people. In addition to buying and selling homes, Opendoor offers mortgage services through Opendoor Home Loans and title and escrow services via its acquisition of OS National in 2019. The company has faced challenges, including a $62 million settlement with the Federal Trade Commission in 2022 over misleading marketing practices and significant financial losses in 2022 and 2023. Despite these hurdles, Opendoor remains a significant player in the digital real estate sector, focusing on leveraging technology to simplify the home buying and selling experience.