| Market Capitalization (Millions $) |
3,091 |
| Shares
Outstanding (Millions) |
966 |
| Employees |
1,042 |
| Revenues (TTM) (Millions $) |
3,254 |
| Net Income (TTM) (Millions $) |
-1,521 |
| Cash Flow (TTM) (Millions $) |
-118 |
| Capital Exp. (TTM) (Millions $) |
10 |
Business Description
Opendoor Technologies Inc is an online platform that simplifies the process of buying and selling residential real estate. The company is headquartered in San Francisco, California and was founded in 2014. It offers an end-to-end service for customers who want to sell their property without the hassle of traditional real estate agents.
Opendoores platform allows homeowners to receive an instant offer for their home in a matter of minutes, based on the companyes proprietary algorithm that analyzes local real estate data. If the homeowner accepts the offer, they can complete the sale within days, avoiding the typical months-long process with agents and buyers. This service is available in over 20 markets in the US, including cities such as Phoenix, Las Vegas, Los Angeles, and Dallas.
On the buying side, Opendoor provides a vast selection of homes to choose from, complete with 3D virtual home tours and detailed photographs. Buyers can use the companyes mobile app to schedule a personal visit to any listed property, and even get a $100 credit on their closing costs if they choose to finance the purchase through the app.
Opendoor operates on a low iBuyer fee of about 5%, compared to the traditional 6% real estate agents charge, which has made its services popular with homeowners. The company also offers trade-ins and instant offers on new homes and works with a network of local service providers to provide a seamless transaction process.
The company prides itself on using technology to make real estate transactions more streamlined, efficient, and affordable. Along with its proprietary algorithm, Opendoor uses advanced machine learning and artificial intelligence tools to personalize its services for each customer. The companyes customer service team is available round-the-clock to ensure every customer is satisfied, and it has received high marks for transparency and fair pricing.
Since its founding, Opendoor has raised over $1 billion in funding from investors such as Softbank, General Atlantic, and New Enterprise Associates. The company went public on the Nasdaq stock exchange in December 2020, raising over $930 million in its initial offering. With a market capitalization of over $18 billion, it is considered one of the most promising tech companies in the real estate sector.
Company Address: 1295 West Washington Street, Tempe, 85288 AZ
Company Phone Number: 618-6760 Stock Exchange / Ticker: NASDAQ OPEN
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181.54 %