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Home-flipping Startup Opendoor To Go Public | National Real Estate Investor

by nreionline.com posted 1week ago 20 views
The company is the latest startup to go public through a special purpose acquisition company. : (Bloomberg)—Opendoor is going public through a merger with Social Capital Hedosophia Holdings Corp. II in a deal that gives the property technology startup an enterprise value of $4.8 billion. The deal will provide as much as $1 billion in cash, including up to $414 million held by Social Capital II, the blank-check company led by Chairman Chamath Palihapitiya, according to a statement on Tuesday that confirmed earlier reporting from Bloomberg. Opendoor is the latest startup to go public through a special purpose acquisition company, or SPAC.

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