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Opendoor Board Chair Thinks the Company Should Cut Its Workforce by 85 Percent

If you work for Opendoor, the online real estate platform, you might consider polishing up your resume. The chair of the company’s board recently let it slip that he thinks the firm could stand to lose almost all of its employees. During a recent appearance on CNBC’s “Squawk on the Street,” Keith Rabois, a former member of the PayPal Mafia, told a reporter that he felt that the majority of the people at his company were expendable. “There’s 1,400 employees at Opendoor. I don’t know what most of

Opendoor board chair Rabois says company is 'bloated,' needs to cut 85% of workforce

Opendoor co-founder and newly minted board chair Keith Rabois said remote work and a "bloated" workforce have been a drag on the company's culture, as he vowed to slash headcount. "There's 1,400 employees at Opendoor. I don't know what most of them do. We don't need more than 200 of them," Rabois told CNBC's "Squawk on the Street" on Friday. The online real estate platform on Wednesday appointed former Shopify executive Kaz Nejatian as its new CEO after investor pressure caused his predecessor

Opendoor stock closes 78% higher after company names new CEO

OpenDoor is disrupting the real estate market with its new model. It buys homes and sells them on its platform. Opendoor stock rocketed 78% higher on Thursday after the retail favorite named Shopify executive Kaz Nejatian as CEO and co-founder Keith Rabois as chairman. The meme stock hit a 52-week high and continued a stunning run this year, with shares up more than 500% so far. Former CEO Carrie Wheeler resigned last month following a pressure campaign from investors that included critical c

Opendoor stock soars 80% after company names new CEO

OpenDoor is disrupting the real estate market with its new model. It buys homes and sells them on its platform. Opendoor stock rocketed 80% higher on Thursday after the retail favorite named Shopify executive Kaz Nejatian as CEO and co-founder Keith Rabois as chairman. The meme stock hit a 52-week high and continued a stunning run this year, with shares up more than 500% so far. Former CEO Carrie Wheeler resigned last month following a pressure campaign from investors that included critical c

Opendoor stock soars 65% after company names new CEO

OpenDoor is disrupting the real estate market with its new model. It buys homes and sells them on its platform. Opendoor stock rocketed 65% higher on Thursday after the retail favorite named Shopify executive Kaz Nejatian as CEO and co-founder Keith Rabois as chairman. The meme stock hit a 52-week high and continued a stunning run this year, with shares up more than 500% so far. Former CEO Carrie Wheeler resigned last month following a pressure campaign from investors that included critical c

Opendoor taps new CEO and names Keith Rabois chairman, boosting stock 36%

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

Opendoor stock soars 60% after company names new CEO

OpenDoor is disrupting the real estate market with its new model. It buys homes and sells them on its platform. Opendoor stock rocketed 60% higher on Thursday after the retail favorite named Shopify executive Kaz Nejatian as CEO and co-founder Keith Rabois as chairman. The meme stock hit a 52-week high and continued a stunning run this year, with shares up more than 400% so far. Former CEO Carrie Wheeler resigned last month following a pressure campaign from investors that included critical c

Opendoor taps new CEO and names Keith Rabois chairman, boosting stock 30%

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 popped 30% in extended trading, and is now up more than fifteenfold since hitting its record low

Opendoor CEO resigns following investor pressure campaign

Opendoor CEO Carrie Wheeler said Friday that she's resigning from the online real estate company, which has seen a surge in recent interest from retail investors. The stock popped early in the day before closing up 4.3%. Pressure began building on Wheeler, who took over the top job in 2022, after the company's quarterly earnings report earlier this month failed to reassure investors that a turnaround is underway. The stock is up more than sixfold since bottoming out at 51 cents in June, a price

Opendoor stock pops 10% as CEO resigns following investor pressure campaign

Opendoor shares popped about 10% on Friday after CEO Carrie Wheeler said she's resigning from the online real estate company, which has seen a surge in recent interest from retail investors. Pressure began building on Wheeler, who took over the top job in 2022, after the company's quarterly earnings report earlier this month failed to reassure investors that a turnaround is underway. The stock is up more than sixfold since bottoming out at 51 cents in June, a price that put the company at risk

Opendoor tanks after earnings as CEO thanks new investors for 'increased visibility'

With Opendoor shares up almost fivefold since the beginning of July and trading volumes hitting record levels, CEO Carrie Wheeler thanked investors for their "enthusiasm" on Tuesday's earnings call. "I want to acknowledge the great deal of interest in Opendoor lately and that we're grateful for it," Wheeler said, even as the stock sank more than 20% after hours. "We appreciate your enthusiasm for what we're building, and we're listening intently to your feedback." Prior to its recent surge, Op

The investor behind Opendoor's 190% run nearly shut down his fund

In this article OPEN Follow your favorite stocks CREATE FREE ACCOUNT Courtesy: Opendoor On June 6, online real estate service Opendoor was so desperate to get its beaten-down stock price back over $1 and stay listed on the Nasdaq that management proposed a reverse split, potentially lifting the price of each share by as much as 50 times. The stock inched its way up over the next five weeks. Then Eric Jackson started cheerleading. Jackson, a hedge fund manager who was bullish on Opendoor years