Opendoor Pitch Deck

Online real estate marketplace Opendoor was founded in March 2014 by Keith Rabois, Eric Wu, JD Ross. The comany began operations after raising a $9.95M VC round led by Khosla Ventures that May (see the deck they used here). By 2019, the company was valued over $3.8B on the heels of a $300m in a funding round led by General Atlantic, and reportedly sold over 18,000 homes for nearly $5B in revenue that year.
In early 2020, the company laid off 600 employees (35% of its team) and temporarily suspended home buying activity, citing COVID-19 pandemic challenges. Months later, OpenDoor went public with the ticker $OPEN (originally IPOB) through a SPAC merger led by Chamath Palihapitiya that valued the company at $4.8 billion.
Since then, the company has faced struggles including mounting losses from home sales and an FTC settlement of $62M over charges of misleading potential home sellers. Ahead of its 2020 IPO, the company's market cap was around $18 bn; in early 2023 it was just above $1 billion.

2020 • Public