June 15, 2018 | Archive

Opendoor Plan Nationwide Expansion by 2020

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Tracey Velt is the Senior Director of Data & Content. She is the host of the popular RealTrending podcast, manages content for the Gathering of Eagles and HousingWire Annual conferences and heads up the contributor program across the HW Media brands.see full bio

Opendoor raises $325 million and plans nationwide expansion. Direct homebuyer plots expansion into 50 markets by 2020

Opendoor, an online marketplace that buys homes directly from homeowners, announced Wednesday that it secured $325 million in new funding and is planning a nationwide expansion of its homebuying platform.

Opendoor buys homes directly from sellers, makes the necessary repairs and improvements, then turns around and sell the houses on its own marketplace.

Opendoor’s $325 million Series E funding round comes just 18 months after the company raised $210 million in its Series D round of funding.

READ: Can Opendoor Continue To Dominate The IBuyer Market With Impeding Competition?

Since then, the company expanded into new markets and launched a foray into mortgages as well.

Opendoor first began buying and selling houses in Phoenix and Dallas-Fort Worth in 2014, and is now operating in 10 markets, including Atlanta, Charlotte, Dallas-Fort Worth, Las Vegas, Nashville, Orlando, Phoenix, Raleigh-Durham, Tampa, and San Antonio.

READ FULL ARTICLE HERE

3d rendering of a row of luxury townhouses along a street

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