Opendoor appoints Kaz Nejatian, COO of Shopify, as CEO and member of the Board of Directors.
Co-founders Keith Rabois and Eric Wu return to the Board, with Rabois as Chairman.
Khosla Ventures and Eric Wu invest $40 million in PIPE financing to accelerate growth.
Leadership Change
Kaz Nejatian appointed as CEO, driving focus on AI-powered real estate platform.
Founder Reengagement
Co-founders Rabois and Wu rejoin the board to bring back founder DNA.
Financial Investment
$40 million equity investment by Khosla Ventures and Eric Wu for business expansion.
- Kaz Nejatian, with a background in AI and product management, poised to lead Opendoor's innovation in home buying and selling.
- Rabois and Wu's return to the board signifies a renewed focus on the company's original mission and growth.
- Financial backing from Khosla Ventures and Eric Wu positions Opendoor for accelerated development and market expansion.
Opendoor's strategic leadership changes and financial investment signal a significant shift towards AI innovation and growth strategies, led by Kaz Nejatian and supported by the returning founders and key investors.