Housing Market: Is Opendoor Another Carvana or the Amazon of Home Buying? - Bloomberg

2022-06-23 10:14:19 By : Mr. Mike Xu

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Opendoor’s ability to make money come rain or shine is about to be tested. The future of iBuying is at stake. 

It’s rough for capital-intensive and unprofitable startups right now. Anything associated with the cooling housing market or SPACs is also being marked down. Opendoor Technologies Inc. ticks many of those boxes — yet it might be unfairly maligned.

Founded in 2014, the San Francisco-based company pioneered iBuying, a whizzy name for digitally-enabled home flipping, though it abhors the description.