- Business
- Opendoor Technologies Inc. operates an e-commerce platform for residential real estate transactions in the United States. The Company purchases, renovates where necessary, markets and resells single-family homes through its digital platform; provides homeowners with cash-offer and home-sale options, including its Cash Plus product, which combines an Opendoor cash offer with the potential for resale upside through participating real estate agents; enables consumers to buy homes through online listings, self-tour technology and digital transaction tools; and offers adjacent real estate services, including residential brokerage, title insurance and settlement services, escrow services, property and casualty insurance, construction and home-repair services, and mortgage origination through Opendoor Home Loans. Opendoor serves home sellers, homebuyers and real estate agents across markets nationwide in the United States. The Company uses data science, automated valuation and pricing technology, digital workflow tools and local market operations to facilitate home transactions and manage its residential inventory. Founded in 2013, Opendoor Technologies Inc. is headquartered in Tempe, Arizona. The Company formerly operated as Social Capital Hedosophia Holdings Corp. II before adopting the Opendoor Technologies Inc. name.
In recent developments, Opendoor has continued its Opendoor 2.0 strategic transformation, emphasizing direct-to-consumer relationships, expanded product offerings, improved acquisition underwriting, faster inventory turnover and a more capital-efficient platform model. The Company expanded Cash Plus and its agent-partner distribution model, enabling partner agents to offer sellers cash, listing and hybrid sale alternatives. It has also expanded its residential financing offering: in September 2026, Opendoor Home Loans exited beta and broadened its digital mortgage platform to include 30-, 20- and 15-year fixed-rate mortgages and 5/6, 7/6 and 10/6 adjustable-rate mortgages, with online prequalification, digital applications, income and asset verification, document submission and access to licensed mortgage professionals. In March 2026, Opendoor announced an agreement to acquire closing and escrow service operations from Doma and to work with Fannie Mae through its Title Acceptance Program, subject to applicable regulatory approvals, to streamline closing operations. In August 2026, the Company completed a $650 million offering of 0% convertible senior notes due 2030, repurchased approximately 45.3 million common shares for $158 million and entered into capped-call transactions, resulting in approximately $440 million of additional growth capital and a 5% reduction in shares outstanding.