September 16 - 10:09
Opendoor to go public via $4.8 billion SPAC merger
Property technology unicorn Opendoor Labs Inc.has agreed to go public through a reverse merger with the SPAC Social Capital Hedosophia Holdings Corp. II. The deal values the online real-estate platform at $4.8 billion. Its main investors are SoftBank Group Corp., General Atlantic, NEA and Norwest Venture Partners. The deal supports SoftBank's target of selling $41 billion in assets this year.
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