In time for a fall homebuying season that could be busier than usual due to lower mortgage rates, Opendoor has made appointments to a pair of vital roles.
The company announced that it has named Selim Freiha its chief financial officer, while Shrisha Radhakrishna assumes the title of chief technology and product officer. They’re both expected to begin work at Opendoor in November.
“The addition of Selim and Shrisha to our executive team will be instrumental as we continue shaping the future of real estate,” Opendoor CEO Carrie Wheeler said in a statement. “Shrisha’s exceptional track record in building transformative digital solutions aligns perfectly with Opendoor’s commitment to creating seamless and innovative customer experiences.
“Selim brings a wealth of knowledge from the world’s leading tech and e-commerce platforms, making him an ideal fit to help drive our next chapter of growth and financial performance.”
Freiha joins Opendoor after a three-year stint at Alphabet, where he started as Google’s vice president of finance and oversaw commerce and payments before moving to capital allocations and planning. Prior to that, he worked in similar roles with eBay.
“I’ve followed Opendoor closely over the past decade, and the company’s mission of simplifying real estate transactions is one that deeply resonates with me,” Freiha said in a statement. “I’m energized to help propel the next phase of growth and financial performance at Opendoor, and to continue delivering value for both customers and shareholders.”
Radhakrishna is coming from LegalZoom, where he served for four years as chief technology officer and chief product officer. Prior to that, he spent 11 years at Intuit in product development roles.
“Opendoor is not just changing real estate; it’s pushing the industry into the future,” Radhakrishna said in a statement. “I’m thrilled to join this exceptional team and continue building customer-centric solutions that simplify the complex processes of buying and selling homes. Our goal is to make moving easier for everyone, and I can’t wait to help drive that forward.”
Opendoor began the year looking to rescale its business after taking a more measured approach in 2023. It posted a $275 million loss last year, but that was significantly less than its $1.4 billion loss in 2022.
In June, Opendoor partnered with the privately owned My State MLS, which serves 60,000 agents in more than 50 markets. The partnership allows Opendoor to provide agents with its cash-offer solution.
