A partnership of philanthropists, technologists and capitalists utilizing venture capital as a force to create value and change on a global scale.
Chamath Palihapitiya (Founder and CEO)
The transaction values the company at an equity value of $8.65 billion post-money.
This transaction values Clover at an enterprise value of $3.7 billion and is expected to provide up to $1.2 billion in cash proceeds, including a fully committed PIPE of $400 million and up to $828 million of cash held in the trust account of Social Capital Hedosophia Holdings.
The transaction will enable Opendoor to continue to invest in growth, market expansion and new products that will accelerate Opendoor’s plan to become a digital one-stop shop for homeowners.
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