This Stock Is The NEXT Tesla | Chamath Palihapitiya and Cathie Wood AGREE
In today's video, I talk about Opendoor (OPEN), Ark Invest, Cathie Wood, and Chamath Palihapitiya.
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Opendoor seeks to provide a “frictionless” home buying and selling experience at the lowest cost and highest customer satisfaction. The difference with other platforms is that Opendoor actually purchases inventory from sellers and offers them out to buyers, rather than connect buyers directly with sellers. The Company is more than a middleman, but actually flips the properties to arbitrage profits while collecting fees on both sides. The Company uses sophisticated proprietary algorithms and predictive analytics to determine fair value and pricing on both sides. For sellers, it collects service and estimated repair fees and fast closings averaging 15 to 20 days. For buyers, it provides “interaction-less” home tours, property information and financing services. The founder of Opendoor, Eric Zu, is well versed in real estate digital platforms as he flipped his first platform, Trulia to Zillow for $2.5 billion in 2015. The Company sold 18,799 homes in 2019 with full-year revenues topping $4.7 billion, up 161% year-over-year (YoY).
Opendoor is a digital platform that enables people to buy and sell property, as well as offers financing services for property purchases. In 2019, 18,799 homes were sold on the platform in 21 markets around the United States, generating $4.7 billion in revenue. This represents a 161% year-over-year increase from 2018.
What differentiates Opendoor is its vertically integrated approach to real estate. Rather than merely allowing sellers to list on its platform, Opendoor also makes offers to buy property from them. This dramatically simplifies the selling process and enables sellers to move at their own timeline without conducting house showings. Customers are dramatically happier with Opendoor’s approach than traditional methods, as evidenced by their insanely high net promoter score.
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⚠️⚠️⚠️⚠️DISCLAIMER⚠️⚠️⚠️⚠️
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