Keith Rabois of Khosla Ventures attends Day 3 of TechCrunch Disrupt SF 2013 at San Francisco Design Center on September 11, 2013 in San Francisco, California.
Opendoor , the online real estate platform that's seen a surge of retail investor interest in recent months, said Wednesday that it's tapped former Shopify executive Kaz Nejatian as CEO and named co-founder Keith Rabois as chairman.
The stock was up 36% Thursday in premarket trading, and is now up more than fifteenfold since hitting its record low in June.
Rabois, a partner at Khosla Ventures, helped launch Opendoor in 2014, along with a group that included Eric Wu, who served as the first CEO before stepping down in 2023. Wu is rejoining the board as part of Wednesday's announcement.
The moves come after Carrie Wheeler last month resigned as Opendoor's CEO following an intense pressure campaign from investors. Rabois and hedge fund manager Eric Jackson were among those who were vocal critics of Wheeler and called for her departure.