Softbank-backed Opendoor to go public in $4.8bn merger
Blank-cheque company Social Capital’s shares surge as much as 22%
15 September 2020 - 21:56
Opendoor is going public through a merger with Social Capital Hedosophia Holdings 2 in a deal that gives the property technology start-up an enterprise value of $4.8bn.
The deal will provide as much as $1bn in cash, including up to $414m held by Social Capital, the blank-cheque company led by chair Chamath Palihapitiya, according to a statement on Tuesday...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.