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Opendoor co-founder Eric Wu will transition from his role of CEO to serve as the company's president of marketplace.
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Tech companies are attempting to ride out an industry downturn through a growing wave of layoffs.
The iBuyer has launched a new marketplace to connect homebuyers and sellers. The move comes as the housing market continues to slow and as iBuyers face gathering headwinds.
Redfin is set to shutter its home-flipping business and reduce its workforce by 13%, laying off 862 employees.