The Ledger
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Nejatian: Opendoor's top external expense was millions to a consulting firm
“And usually for tech companies, like, your largest expense to an external vendor ends up being, like, your cloud provider. But for Opendoor, number one was millions of dollars written to a very large consulting firm.”
Nejatian: Opendoor halved its operating expenses while maintaining previous transaction volume
“To give you a sense, the last time Opendoor bought as many homes as we bought last quarter, Opendoor's OPEX was more than twice as high.”
Nejatian: Opendoor is buying 6-7x more homes year-over-year by removing friction
“We're buying six to seven times more homes this week than we did last year this week. And it's almost entirely because we reduce friction.”