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OPENDOOR TECHNOLOGIES INC.

(OPEN)
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Reaching a New Milestone: Meet The Petitto Family!

08/19/2021 | 12:14pm EST

From day one of founding Opendoor, it was a dream to reach 100,000 transactions. And that dream became a reality in June with the Petitto family.

To the Petittos and the thousands of other home buyers and sellers who trusted us with their biggest transaction, I am grateful. On behalf of Opendoor, we thank you for giving us the opportunity to help you with your life transition. To celebrate this major milestone, I sat down with Jack and Nicole Petitto to better understand how our experience was for them. Here's what they said.

Eric: Jack and Nicole, it's so nice to meet you both! I appreciate you taking the time and choosing Opendoor as your way to sell your home. Because I know it was a big decision. First, tell me more about our background and what prompted your move?

  • Jack:We owned our home in Mission Viejo for about four years. It was a good starter home, about 1,200 square feet. We had our first son two and a half years ago. And with him coming into the picture and all these toys, our space just got smaller and smaller every single day.

Eric: When you first decided to sell your home, what was going through your mind? What were the hopes and fears?

  • Jack: We both work from home and have a young kid whose schedule changes daily. Listing, showing and keeping the house perfectly clean nonstop obviously is something in the traditional market you have to do but was something we did not want to do.
  • Nicole: We were also apprehensive about the uncertainty the traditional process typically has. We did not want someone to make an offer, go back and forth with an inspection, and then potentially have that offer fall through. We wanted to know our timeline and not wonder how long it would take for us to actually get the offer we wanted, have it flow successfully and be able to move on.

Eric: What attracted you to Opendoor?

  • Jack: From my first interaction with the company to the last, Opendoor followed through on everything you said you were going to do. And there was clear communication through every step of the process. That immediately got my attention from my initial inquiry to submit the property address and get that preliminary offer.

Eric: What did you love most about the Opendoor experience?

  • Jack: It was easy! I don't know any other way to describe it. There were never any unknowns, which is helpful when I'm taking this venture on and communicating everything to my wife. Also, the app is very user-friendly and transparent, so we were in tune with every step of the process along the way.
  • Nicole: It was the overall transparency. It was very honest and open communication that made us feel really confident and comfortable moving forward-especially with a company and a service that was new to us and different from the way we purchased our home originally.
  • Jack:It's been a great experience. You rarely have those types of experiences with a brand that makes you kind of have that 'wow' moment. You all have done an incredible job.

Stories like these are what motivate me everyday. Everyone has a unique situation and we are building a system that is flexible enough to handle all of these different life transitions. Again, to all our past, present and future customers, thank you!

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

Disclaimer

Opendoor Technologies Inc. published this content on 19 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 August 2021 16:13:05 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