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Briefing
markets real estate

Opendoor, Seeking SPAC Merger, Lays Out Financial Picture

By
Cory Weinberg
· · Source: The Information

The financial prospectus for Opendoor, the largest instant home buyer, showed revenue declines alongside hefty losses as it looks to attract shareholder approval for a merger with Chamath Palahapitiya’s blank-check company. Opendoor’s revenue fell by 12% in the first half of 2020, thanks to a lower volume of home sales amid Covid-19, compared to the same period last year. The company said its...

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