The company earned $600.5M in revenue during the third quarter, but also lost $90.2M — up from a loss of just $18.9M in the third quarter of 2021 — amid a worsening housing market
As many as 264 employees impacted by the cuts were from Redfin Now, the company's iBuying division, while an additional 218 jobs from other departments are also being eliminated
Real estate companies including Compass, Offerpad and Opendoor saw share prices hit all-time lows Monday. The rout suggests investors may have deep concerns about the real estate industry
In total, Opendoor suffered a net loss of $928M between July and September, according to an earnings report Thursday. That's up from a loss of just $57M during the third quarter of 2021
The company brought in $483M in revenue and suffered a loss of $53M — an improvement over the Q3 2021 losses of $329M, according to quarterly earnings results Wednesday
The cuts affect approximately 550 people, Opendoor CEO Eric Wu said in a blog post Wednesday, and come amid a worsening housing market that has forced layoffs across the real estate industry
Many of the industry's big companies are about to report their third-quarter earnings. The reports will offer the first in-depth look at how firms coped with a rapidly cooling market
During Inman Connect, Keller discussed an array of topics with Inman founder Brad Inman. Keller said companies have to focus on 'dollars in, expenses out' as they reach for profitability
A year after announcing it would abandon its iBuyer program, Zillow has offloaded the last of the homes it bought with Zillow Offers, marking the end of a major chapter in real estate history
Multiple real estate companies are seeing share prices fall to all-time lows. If they can't turn around stock market performances, falling share prices could have profound impacts
Kelman and other real estate 'tycoons' star in a 'Shark Tank'-inspired competition called 'Buy My House.' The show debuts Friday on Netflix
Raji Subramanian previously led teams at Amazon and Yahoo and went to Opendoor after a 2021 acquisition. She brings a wealth of knowledge, experience and leadership, the company says
RedfinNow is operational in the Orlando and Tampa areas as of this week and will launch in the Palm Beach and Miami areas later this month, with Florida marking its 16th state in 34 markets
'Cash is king,' the real estate analyst argued during his opening address at Inman Connect Las Vegas. His point was that losing money has turned from an advantage to a liability
Despite all of the platforms and tech companies coming for real estate agent commissions, transactions hinge on the expertise of Realtors