Opendoor Technologies, an e-commerce platform for residential real estate transactions, has announced the appointment of Kaz Nejatian as Chief Executive Officer and member of its Board of Directors. Nejatian, former chief operating officer at Shopify, brings broad experience in scaling products and teams. He takes charge with support from co-founders Keith Rabois, returning as chairman, and Eric Wu, rejoining the board.
“Literally there was only one choice for the job: Kaz. I am thrilled that he will be serving as CEO of Opendoor,” said Rabois. He emphasized Nejatian’s expertise in product innovation and operational discipline, adding, “He is the right leader to unlock Opendoor’s unique data and assets as we build on Opendoor’s original mission, now enhanced as an AI-first company.”
Nejatian expressed his vision for the company, stating: “It’s a privilege to become Opendoor’s leader. Few life events are as important as buying or selling a home. With AI, we have the tools to make that experience radically simpler, faster, and more certain.” Alongside the leadership changes, Opendoor announced a $40 million equity investment from Khosla Ventures and Eric Wu to accelerate growth.
The company also confirmed that co-founders Rabois and Wu will reintroduce “founder DNA” to the board, while directors Pueo Keffer and Glenn Solomon stepped down. Goldman Sachs acted as financial advisor to Opendoor, with Wachtell, Lipton, Rosen & Katz serving as legal counsel.