Weeks after it reported losing nearly $1B in Q3, leading iBuying company shook things up as founder Eric Wu was replaced as CEO by CFO Carrie Wheeler, and the president has resigned
Offerpad's stock slipped below $1 per share in late October, positioning the iBuyer to be delisted from the New York Stock Exchange, which could make it more difficult to buy and sell shares
A slowing market is taking a toll on big real estate companies, though not every firm is suffering equally. A look back on the past 3 dramatic weeks of third-quarter wins, losses and draws
Opinion
As Redfin winds down its operations, Opendoor and Offerpad are the last ones left for the most part — and they're both struggling. Was iBuying a flash in the pan or is everyone simply looking in the wrong direction?
The company earned $600.5M in revenue during the third quarter, but also lost $90.2M — up from a loss of just $18.9M in the third quarter of 2021 — amid a worsening housing market
Real estate companies including Compass, Offerpad and Opendoor saw share prices hit all-time lows Monday. The rout suggests investors may have deep concerns about the real estate industry
In total, Opendoor suffered a net loss of $928M between July and September, according to an earnings report Thursday. That's up from a loss of just $57M during the third quarter of 2021
The iBuyer brought in higher-than-expected revenues but racked up a much higher net loss than the previous year, according to a Q3 earnings call on Wednesday
The cuts affect approximately 550 people, Opendoor CEO Eric Wu said in a blog post Wednesday, and come amid a worsening housing market that has forced layoffs across the real estate industry
In an earnings call Tuesday, the real estate giant pointed to its Apartments.com business as a particularly successful standout in an otherwise challenging market this summer
Cash is king. In today's market, a company’s cash flow determines if it is in control of its own destiny
During Inman Connect, Keller discussed an array of topics with Inman founder Brad Inman. Keller said companies have to focus on 'dollars in, expenses out' as they reach for profitability
Shares in Opendoor, Offerpad and Redfin all just hit all-time low prices. The milestones come after months of declines for companies across the real estate space
A year after announcing it would abandon its iBuyer program, Zillow has offloaded the last of the homes it bought with Zillow Offers, marking the end of a major chapter in real estate history
Real estate stocks fell on Wall Street, too — though even before the carnage they were hovering near all-time lows