A closer look into Opendoor with Thomvest Ventures’ Nima Wedlake
October 23, 2020
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Today’s Daily Download features a Housing News Podcast crossover episode that includes an interview with Thomvest Ventures’ Nima Wedlake. During the interview, Wedlake discusses his recent blog that examines Opendoor’s business practices, its current progress, and its future prospects.Wedlake also discusses why so many companies in the housing space are now choosing to go public.
For some background on the interview here’s a brief summary of HousingWire’s article on the OpenDoor S-4 filling:
Opendoor has officially filed its announcement to go public after announcing its merger with Social Capital Hedosophia Holdings Corp. II in September. But the filing also revealed that Opendoor is under investigation by the Federal Trade Commission over its advertising practices.
According to the filing, Opendoor in 2019 received a civil investigative demand.
“In August 2019, the FTC sent a civil investigative demand (CID) to Opendoor seeking documents and information relating primarily to statements in the company’s advertising and website comparing Opendoor’s offers to purchase homes to selling in a traditional manner using an agent and statements pertaining to Opendoor’s offers reflecting or being based on market prices,” the filing said.
Inman first reported on the investigation, which was disclosed in the company’s S-4 statement. As of Oct. 1, the investigation is ongoing, the filing says.
The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.
HousingWire articles covered in this episode:
