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OPENDOOR TECHNOLOGIES INC.

(OPEN)
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Opendoor Technologies : Welcoming Skylight & Pro.com to the Opendoor family

09/07/2021 | 12:02pm EST

Our goal at Opendoor is to build a generational company that transforms the traditional real estate transaction into a seamless, digital consumer experience. The Opendoor team has made tremendous progress on our mission to empower everyone with the freedom to move. While we've completed 100,000+ customer transactions, achieved record levels of home offers and sales conversion, and delivered an exceptional customer experience with a seller Net Promoter Score above 80, we are not standing still. We continue to operate, execute and invent with urgency towards our goal to build the digital one-stop-shop to buy and sell a home for millions of homeowners.

Today I'm excited to share that we're growing the Opendoor team with the addition of the Skylight and Pro.com teams. The core of what will drive our ability to achieve our mission is talent and culture. The additions of the Skylight and Pro.com teams will bring on like-minded founders and teammates who care deeply about transforming housing. While their platforms will be sunsetted, the talent and technology of each team will help us scale and accelerate our roadmap. Here is why we are so energized by these companies:

SKYLIGHT

The team at Skylight, led by co-founders Jasper Malcolmson and Fiona Lake Waslander, has been focused on making the complex, costly, and offline process of home personalization more seamless and digital. Sound familiar? It's because their mission and obsession for perfecting the customer experience aligns with us and their path of vertically integrating and doing the hard things in service of customers is also how we operate.

PRO.COM

At Pro.com, co-founders Matt Williams and Raji Subramanian built a world-class team with deep experience in merging operations and technology at scale. With many teammates from Amazon and the rest operating with the same level of customer obsession, rigor and discipline, Pro.com digitized the renovation market with a best in class customer experience. Before Pro.com, Matt and Raji spent eight years together at Amazon, helping build Amazon.com, as well as AWS.

Like Opendoor, both of these teams start and end with the customer, operate with a startup mentality, and act from ownership. I'm excited to grow our already exceptional team in service of building a best-in-class consumer experience that is simple, certain, fast, and trusted for our customers.

Eric Wu is the CEO and co-founder of Opendoor.

Disclaimer

Opendoor Technologies Inc. published this content on 07 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 September 2021 16:01:11 UTC.


ę Publicnow 2021
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Financials (USD)
Sales 2021 7 353 M - -
Net income 2021 -603 M - -
Net Debt 2021 4 407 M - -
P/E ratio 2021 -8,32x
Yield 2021 -
Capitalization 5 207 M 5 207 M -
EV / Sales 2021 1,31x
EV / Sales 2022 0,77x
Nbr of Employees 1 048
Free-Float 83,9%
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Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 8,50 $
Average target price 23,00 $
Spread / Average Target 171%
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Managers and Directors
Eric Wu Chairman & Chief Executive Officer
Andrew Low Ah Kee President
Carrie Ann Wheeler Chief Financial Officer
Ian Wong Chief Technology Officer
Daniel Morillo Chief Investment Officer