Opendoor In Talks to List Via Social Capital II Merger
- Transaction could be valued at around $5 billion, people said
- Blank-check company is led by Chairman Chamath Palihapitiya
Opendoor, a property technology startup, is in advanced talks to go public through a merger with Social Capital Hedosophia Holdings Corp. II, according to people with knowledge of the matter.
Social Capital II, the blank-check company led by chairman Chamath Palihapitiya, is discussing raising fresh equity to help fund the transaction with prospective investors, said some of the people, who asked not to be identified because the talks are private.