Opendoor is a technology-driven real estate company that has redefined the traditional home selling and buying process through its innovative “iBuying” (instant buying) business model[7]. The company’s core offering allows homeowners to receive instant, all-cash offers for their properties, often within days, bypassing the lengthy and uncertain conventional real estate process[2][4]. Opendoor uses proprietary algorithms, artificial intelligence, and data analytics to assess property values, make offers, and manage transactions entirely online, providing a streamlined, digital-first experience for its customers[1]. ## History and Founding Opendoor was founded in March 2014 by Keith Rabois, Eric Wu, and JD Ross, with the vision of making real estate transactions faster, simpler, and less stressful[1]. The inspiration for the company stemmed from the founders’ desire to eliminate the complexities and delays associated with traditional home sales. By 2016, Opendoor had launched a trade-in service, enabling customers to sell their current home and purchase a new one in a single, seamless transaction[1]. The company quickly scaled its operations, leveraging significant venture capital to expand into multiple U.S. markets. ## Key Achievements Opendoor rapidly became a leader in the iBuying space, outpacing established competitors like Zillow and Redfin in terms of transaction volume and revenue growth[6]. At its peak, Opendoor’s projected revenue for 2021 was $7.2 billion, with healthy profit margins, demonstrating both the scalability and profitability of its model[6]. The company’s technology platform not only delivers instant offers but also handles property repairs, staging, and resale, creating a turnkey solution for sellers[4]. Opendoor’s offer acceptance rate exceeds 50%, reflecting strong consumer demand for its hassle-free selling process[2]. ## Current Status and Notable Aspects As of late 2025, Opendoor continues to expand