In a time when people are coming up with creepy and complex business ideas to somehow impressive investors and get attention, there is one startup which is piling up truckloads of money in funding with its simple and straightforward business plan. Opendoor is a California-based startup whose simple business model has got the attention or the angel investors and billionaires, and in a latest round, it has been valued at over $1 billion. Here is what Opendoor does: it houses that are not in much polished conditions, do some repair works and sells them at a higher price.
Opendoor has made millions and millions since it was launched back in 2014. It buys houses and invests a little in fixing everything that is wrong with them and lists them for sale. What’s so special about Opendoor? It has infused liquidity in its business model. It actually owns the house before listing them for sale. For years we have seen companies that do not take a step further than matching buyers and sellers on an app or some web platform. Opendoor’s business model is bold and …read more