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Opendoor raised 210 million dollars for expansion

Opendoor is a startup in San Francisco which deals in buying and selling of homes

and has recently raised 210 million dollars in a new funding round which is led by

Norwest Venture partners with Khosla ventures, NEA, GGV Capital and many

other participants. This new funding round just comes over a year after the

company raised 80 million dollars and which is bringing the total up to 320 million

dollars. Company has turned down to disclose its valuation amount. The financing

follows with a star-studded series A round which includes many big investors.

Future plans

Opendoor says that the company will utilize the new funding to expand to ten

cities in 2017 and is currently buying about 60 million dollars value homes every

month and sold up to 4000 houses till date. It is also planning to expand too many

cities and go national in 2018. As per Mr. Keith Rabois, chairman of Khosla

Ventures said that ‘there are more than 70 cities that could utilize this product

right away’. Company is totally focused to make itself look more like a true and

genuine marketplace where buyers and sellers can make the direct purchase.

About Opendoor company

Opendoor is founded in 2014 by ex- PayPal investor and executive Keith Rabois,

Eric Wu , Ian Wong, JD Ross who aims to make buying and selling a house easier

and for speeding up company has purchases every home directly from the seller .

Opendoor has constructed its own pricing models using private and public data.

For its buyers company make it easy by letting them tour available homes for sale

at their own ease. The company offers a minimalism and speed of sale that is

unprecedented in a residential real estate market at present.

Source: www.techcrunch.com

Opendoor raised 210 million dollars for expansion
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