Real Estate Portal Opendoor to Go Public Through Merger
Are investors ready for a new online real estate portal stock in a market already occupied by the likes of Zillow (NASDAQ: Z)(NASDAQ: ZG) and Redfin (NASDAQ: RDFN)? Opendoor Labs is betting that the answer is "yes." The company, which aims to facilitate relatively quick real estate transactions through an auction system, among other features, announced it is going public.
In line with a recent trend, Opendoor will effect this by merging with a company that is already publicly traded -- Social Capital Hedosophia Holdings (NYSE: IPOB).
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Source Fool.com
