San Francisco-based Opendoor has acquired start-up Open Listings, which automates much of the house-buying process and thereby reduces the fee an agent would take. Opendoor aims to rapidly accelerate property deals by bidding on homes without seeing them, then inspecting them and selling them in return for a fee. The Open Listings purchase will enable Opendoor to help people buy as well as sell homes. A recent funding round generated $325m, taking Opendoor's total funding to $2bnm and giving it a valuation of over $645 after including $1.75bn of debt. Additional funding from Softbank is also expected.
San Francisco-based Opendoor has acquired start-up Open Listings, which automates much of the house-buying process and thereby reduces the fee an agent would take. Opendoor aims to rapidly accelerate property deals by bidding on homes without seeing them, then inspecting them and selling them in return for a fee. The Open Listings purchase will enable Opendoor to help people buy as well as sell homes. A recent funding round generated $325m, taking Opendoor's total funding to $645m and giving it a valuation of over $2bn after including $1.75bn of debt. Additional funding from Softbank is also expected.