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Home-Flipper Opendoor to Go Public Via Blank-Check Company

Real estate startup Opendoor has confirmed plans to go public through a merger with the Social Capital Hedosophia II, a special purpose acquisition company associated with investor Chamath Palihapitiya. So reports TechCrunch.

SPACs, also known as blank-check companies, are publicly traded entities that look for private companies to take public, forgoing the headaches of a traditional IPO.

The deal for Opendoor, which buys single-family homes and then flips them, values the enterprise at $4.8 billion.

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