Following a dramatic Q4 in which the iBuyer posted losses of $121.1 million, Offerpad improved its net loss by 51 percent to $59.4 million in Q1 as it struggles to adapt to a shifting market. Continue reading
Offerpad sold more than 10,000 homes last year for the first time in company history, but posted a record $121.1 million fourth-quarter loss, according to an earnings call for the iBuyer on Wednesday. Continue reading
The struggling iBuyer confirms the company has laid off an unspecified number of employees, with more details coming on the Feb. 22 fourth-quarter earnings call. Continue reading
Private placement with existing investors including CEO Brian Bair extends the company’s cash burn runway by six months to a year, KBW analysts say. Continue reading
Executives at the iBuying pioneer see tremendous opportunity if they can negotiate today’s challenging “in-between” phase where buyers and sellers are on the fence. Continue reading
Offerpad’s stock slipped below $1 per share in late October, positioning the iBuyer to be delisted from the New York Stock Exchange, which would make it more difficult to buy and sell shares while scaring off investors. Continue reading
The iBuyer earned about $41 million in profit during the first three months of 2022, beating the results of its also-profitable run at the end of 2021, according to an Q1 earnings call on Wednesday. Continue reading
With the implosion of Zillow Offers in October, all eyes will be on Opendoor and Offerpad as they duke it out for iBuyer marketshare in 2022. Here are the biggest challenges Offerpad faces next year. Continue reading
The company’s CEO Brian Bair was able to offer shareholders reassurance in the wake of Zillow’s iBuying flop by providing hard data to show that Offerpad’s business model is working. Continue reading
How will Opendoor and Offerpad respond to Zillow bowing out of iBuying? How is Compass faring as a fledgling public company? And is Keller Williams nearing an IPO? Continue reading