Opendoor is a San Francisco-based startup that buys homes for cash based on a black-box pricing algorithm.

^[0]The Executive Chairman of Opendoor is Keith Rabois.

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Opendoor believes that there should be a "frictionless" marketplace in real estate.

^[4]The company uses predictive analytics in their transactions.

^[4]If one opts to sell their property on Opendoor, then Opendoor pays you for your home and tries to sell the property for a profit.

^[4]To entice buyers, Opendoor allows for self-guided property tours at any time, made possible by smart locks and security cameras.

^[4]Buyers also also receive a 180-point inspection, warranty and 30-day money-back guarantee upon purchase.

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Opendoor has received a total of $320 million in venture funding from Khosla Ventures, GGV Capital, Norwest Venture Partners, and Access Industries as well as a large group of angel investors.

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