Eric Wu, CEO and co-founder of Opendoor, is proud of how far the company has come since its launch in 2014. Opendoor was created with the goal of simplifying the often-complicated process of buying or selling a home. Opendoor makes a competitive offer on a seller’s home, allowing individuals and families to avoid months of uncertainty while they wait for a buyer and to instead move at a time that is convenient for them.
In 2019, Opendoor expanded to Phoenix, Ariz.; Jacksonville, Fla.; and Portland, Ore. In addition, the company introduced Opendoor Home Loans to provide homebuyers with competitive interest rates, no lender fees and guaranteed on-time closing.
Opendoor also announced a partnership with Redfin, in which if a homeowner wants to sell a house that Redfin can’t buy, Opendoor will make a competitive offer in exchange for a referral fee. Both companies believe that their cooperation can streamline the home-selling process and give customers a wider range of options.
Wu has devoted his professional life to making the process of moving simpler. Before he co-founded Opendoor, he served as CEO of Movity.com, a geo-data analytics company he founded that was later acquired by Trulia. He led location, social and consumer product development at Trulia and co-founded RentAdvisor.com. Wu also runs a real estate fund that invests in multifamily properties.