IBuying giant Opendoor announced Tuesday that it has acquired two home renovation startups, saying that it plans to integrate the companies’ teams and technology into its own operations.
Eric Wu
The acquisitions include Skylight and Pro.com. In a blog post, Opendoor founder and CEO Eric Wu said adding the “talent and technology of each team will help us scale and accelerate our roadmap.” He also said that Skylight and Pro.com “start and end with the customer, operate with a startup mentality, and act from ownership.”
Opendoor did not publish financial details about the deals.
Though the teams at the two companies will remain in place at Opendoor, Wu noted in his post that their actual platforms will be “sunsetted.”
Skylight touts itself on its website as a “new way to remodel your home.” The company has developed a five-step process that walks homeowners through the design and construction of a renovation, and has a tech platform that provides things like 3D visualizations and floor plans. Skylight ultimately argues that its use of technology makes the renovation process more efficient.
Prior to Tuesday’s announcement, Skylight had been serving its home region in the Bay Area, as well as the Los Angeles market. Jasper Malcolmson and Fiona Lake Waslander co-founded Skylight in 2016.
In his blog post, Wu said Skylight’s “mission and obsession for perfecting the customer experience aligns with us and their path of vertically integrating and doing the hard things in service of customers is also how we operate.”
Speaking of Pro.com, Wu said the company “built a world-class team with deep experience in merging operations and technology at scale.”
Amazon alumni Matt Williams and Raji Subramanian founded Pro.com in 2013. Before the Opendoor acquisition, Pro.com had built a pricing engine that broke down the costs of various home renovation projects.
Pro.com is headquartered in Seattle. It served markets in Washington, California and Colorado.
The acquisitions come during a boom time for Opendoor. Last month, the company launched self-guided virtual walk-throughs for sellers and announced that it was trying to raise more than $862 million in new debt. August also saw Opendoor beat analyst expectations when it reported earnings.
In his blog post, Wu ultimately concluded that he was looking forward to welcoming the Skylight and Pro.com teams to Opendoor.
“I’m excited to grow our already exceptional team in service of building a best-in-class consumer experience,” Wu said, “that is simple, certain, fast, and trusted for our customers.”
