Opendoor just raised $400 million in funding from SoftBank’s Vision Fund

Opendoor just raised $400 million in funding from SoftBank’s Vision Fund

7 years ago
Anonymous $oIHRkISgaL

https://techcrunch.com/2018/09/27/opendoor-just-raised-400-million-in-funding-from-softbanks-vision-fund/

It’s official. Two weeks ago, we reported that Opendoor —  the four year-old, San Francisco-based company aiming to make it possible to buy and sell residential real estate with a few key strokes —  was close to sealing up funding from SoftBank. Today, it’s announcing that the ink is dry on the deal.

The terms: SoftBank’s massive Vision Fund is investing $400 million for a minority equity stake in the company, with one of its five managing directors, Jeff Housenbold, taking a board seat. The round brings Opendoor’s total funding to slightly more than $1 billion, the vast majority of it raised in the last six months. (It had separately closed on $325 million in a June round that brought its total equity funding at the time to $645 million.)