Get Data Sheet, Fortune's technology newsletter. Founded in 2014 by former PayPal executive and investor Keith Rabois, Eric Wu, Ian Wong, and JD Ross, Opendoor aims to make buying and selling a house easier. To speed up the process, the company purchases each home directly from sellers, thanks to credit lines from undisclosed financial institutions, and takes on the task of selling them. Opendoor has built its own pricing models and algorithms using public and public data, which generate what it describes as a fair offer price within minutes of the seller's submission through its website. In return for the convenience, Opendoor charges the seller a fee that is 2% to 4% higher than a traditional real estate broker. For buyers, Opendoor makes it equally easy.