# Opendoor

> Opendoor buys eligible US homes directly for cash, prepares and resells them, and offers tools and services for selling, buying, and financing a move. Its central tradeoff is giving homeowners control over timing while taking on the cost and risk of property inventory.

- **Founded:** 2014
- **Headquarters:** Tempe, United States
- **Founders:** Eric Wu (Co-founder; former CEO; director as of September 2025), Keith Rabois (Co-founder; chairman as of September 2025), Ian Wong (Co-founder; founding technology and data science leader), JD Ross (Co-founder; founding product leader)
- **Products:** Cash Offer, Cash Now, More Later, Homes marketplace and app, Opendoor Home Loans, Home valuation and sale calculator
- **Notable:** Sold 39,183 homes in 2022., Became publicly traded through a December 2020 merger, with $970 million in net proceeds., Developed a direct home-purchase and resale operation using automated valuation, property assessment, and local operations.

## Products & services

- **Cash Offer** — Direct purchase of an eligible home; seller chooses a closing date, generally 21-60 days; service charge varies by offer.
- **Cash Now, More Later** — Formerly Cash Plus; initial cash payment at purchase and potential additional proceeds after resale, subject to fees, costs, and resale performance. Renamed in April 2026.
- **Homes marketplace and app** — Browse available homes and access digital home-shopping tools.
- **Opendoor Home Loans** — Mortgage services marketed to homebuyers; terms and eligibility apply.
- **Home valuation and sale calculator** — Online tools for estimating home value and sale proceeds.
- **Agent and builder programs** — Cash-offer and transaction workflows for agents, brokers, and homebuilders.

## Achievements

- Sold 39,183 homes in 2022.
- Became publicly traded through a December 2020 merger, with $970 million in net proceeds.
- Developed a direct home-purchase and resale operation using automated valuation, property assessment, and local operations.

## Latest updates

- **2026-10** — October 21 SEC filing: Lucas Matheson stepped down as president and became an advisor to the CEO; Kaz Nejatian added the president role.
- **2026-09** — September 9 update said the business had not reached adjusted net income break-even; late-August housing weakness delayed an adjusted EBITDA profitability guidepost by roughly six to eight weeks. These were management statements and forecasts.
- **2026-08** — Q2 2026 results: $883 million revenue, $162 million GAAP net loss, $30 million adjusted net loss, and 5.8% contribution margin.
- **2026-04** — Cash Plus renamed Cash Now, More Later.

## Links

- Website: https://www.opendoor.com/
- LinkedIn: https://www.linkedin.com/company/opendoor-com/
- Twitter/X: https://twitter.com/Opendoor
- GitHub: https://github.com/opendoor-labs
- YouTube: https://www.youtube.com/c/Opendoor
- Instagram: https://www.instagram.com/opendoor/
- Facebook: https://www.facebook.com/OpendoorHQ
- TikTok: https://www.tiktok.com/@opendoorhq

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Profile page: https://yespress.io/opendoor
Published by YesPress — https://yespress.io
Last updated: 2026-10-23