Opendoor Technologies Inc.

Opendoor Technologies Inc. (NASDAQ: OPEN) operates as a leading e-commerce platform for residential real estate transactions and the largest U.S. iBuyer. Founded in 2014, the company reimagines home buying and selling through a digital-first experience that eliminates traditional intermediaries and friction points inherent in conventional real estate transactions. The company's website is opendoor.com.

The core business model centers on acquiring homes directly from sellers for cash, then reselling those properties to buyers at market prices. This principal-based approach contrasts with traditional real estate brokers who earn commissions by facilitating transactions between third parties. In 2025, Opendoor sold over 11,700 homes and generated $4.4 billion in revenue while maintaining an average Net Promoter Score of nearly 80 from sellers since 2021. The company has bought and sold over 294,000 homes across the United States since its 2014 launch in Phoenix.

Opendoor's primary product offerings include its Cash Offer, which enables homeowners to sell directly to the company for cash, and Cash Plus Offer, a variant allowing sellers to retain potential upside participation in resale proceeds. The company also provides integrated title insurance and escrow services through subsidiaries, offering these services on both acquisition and resale sides of transactions. In 2025, Opendoor provided title services for over 80 percent of its home transactions that closed in markets where these services were available.

The company's competitive advantages stem from proprietary artificial intelligence pricing models, extensive proprietary data collection from approximately one million home assessments, and centralized operations powered by machine learning. As of December 31, 2025, Opendoor employed 1,042 individuals, with 858 based in the United States. The company operates across a nationwide footprint, having expanded in late 2025 from limited geographies to effectively nationwide coverage across the contiguous United States, with the ability to make offers in substantially all residential zip codes. Opendoor maintains a network of over 450 trade partners and local service providers who utilize the company's proprietary technology for inspections, repairs, and maintenance services.