Doubling Speed of Acquisition
Opendoor increased its speed of home acquisitions from 120 homes per week in mid-September to 230 homes by the last week of October.
Introduction of New Products
Launched over a dozen new products and features, including AI-powered home scoping, automated title and escrow processes, and the Opendoor Checkout for seamless home buying.
Increased Operating Efficiency
Reduced the number of employees involved in the sales contract process from 11 to 1, significantly decreasing operational expenses.
Improved SEO and Organic Traffic
Significant improvements in SEO products, leading to increased organic traffic.
Capital Structure Improvement
Raised nearly $200 million through ATM equity program and refinanced a substantial portion of the 2030 notes, providing enhanced financial flexibility.
Launch of Dividend Warrants
Issued dividend warrants to shareholders with exercise prices at $9, $13, and $17 to align with shareholder interests.