Opendoor raises $41 million through private stock sale

Opendoor Technologies Inc. (NASDAQ: OPEN) completed a $41 million private stock offering on September 10, 2025, according to a company statement.

Khosla Ventures Opportunity III, LP purchased 5,263,158 shares for $35 million, while Eric Wu acquired 751,879 shares for $5 million. Other investors bought 150,375 shares for $1 million.

The company expanded its board from six to eight directors. Keith Rabois was appointed as a Class I director with a term expiring at the 2027 annual stockholder meeting and named board chairman. Eric Wu was appointed as a Class III director with a term expiring in 2026.

Eric Feder will continue serving as Lead Independent Director. Rabois was also appointed to the Audit and Risk Committee and Compensation Committee. The board determined Rabois meets independence requirements under Nasdaq and Securities Exchange Act rules.

Both new directors will receive compensation consistent with other non-employee board members.

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