America doesn’t yet have a new president. But Opendoor does

first_img Email Address* Andrew Low Ah Kee and Opendoor’s Eric Wu (Photos via GoDaddy; Opendoor)Opendoor is shaking up its C-suite — again — ahead of its closely-watched IPO.On the heels of naming its first chief investment officer, the iBuyer tapped GoDaddy executive Andrew Low Ah Kee as president, co-founder and CEO Eric Wu said in a blog post Thursday. Julie Todaro, Opendoor’s president of homes and services, is taking early retirement after a year on the job.In the blog post, Wu said Todaro, a former Amazon and Airbnb executive who was a strategic advisor to Opendoor before joining full-time, helped refine its operations, leaving the company “poised to execute in our next chapter as a public company.”In announcing Low Ah Kee’s role, he said that, “Andrew will be critical to driving operational excellence across our business, especially as we expand into new markets and deepen our product offerings.”Read moreOpendoor hires CIO from Ken Griffin’s Citadel Eric Wu wants to make your home a commodity Can iBuying going the distance? Full Name* Message*center_img Founded in 2014, Opendoor uses algorithms to price, buy and sell single-family homes. In September, it said it would go public in a merger with investor Chamath Palihapitiya’s blank-check company.In an investor presentation and its IPO filing, Opendoor said it sold nearly 18,000 homes last year, generating $4.7 billion in revenue. But it lost $339 million in 2019. The deal with Palihapitiya’s special purpose acquisition company will give Opendoor $1 billion in cash.The company plans to use that war chest to grow. In the investor presentation, Opendoor said by capturing 4 percent of the U.S. housing market, it can be a $50 billion company.Over the past year, Opendoor has bulked up its leadership team. In addition to Todaro, it tapped Netflix alum Tom Willerer as chief product officer and Carrie Wheeler, a former partner at TPG, as CFO.Last month, it hired Daniel Morillo, a former exec from Ken Griffin’s Citadel, as chief investment officer. In that role, he’ll lead Opendoor’s pricing and data science teams.At GoDaddy, Low Ah Kee served as chief operating officer, leading a team of 7,500. Previously, he worked at KKR Capstone and Boston Consulting Group.Contact E.B. Solomont This content is for subscribers only.Subscribe Nowlast_img read more

Terao wins at nationals

first_imgMINAMIMAKI, Nagano Pref. – Satoru Terao won the men’s 1,500 meters at the short track single-distance national championships Friday with a meet record of 2 minutes, 21.012 seconds. Terao held off Tomonori Ike, who clocked 2:21.271, on the second day of the competition at Teisan Ice Skate Training Center. Takafumi Nishitani came third in 2:21.421. In the women’s 1,500, Yuka Kamino raced to a meet record of 2:27.849, while Ikue Teshigawara was second in 2:28.063 and Atsuko Takada third in 2:28.153. GET THE BEST OF THE JAPAN TIMES IN FIVE EASY PIECES WITH TAKE 5last_img

Hubert Lawrence | Jamaicans should take note of IAAF event cuts

first_imgIt is September 25, 2000, and Paul Tergat of Kenya has hijacked the 10,000-metre final with a surprising early drive to the finish. Ethiopian hero Haile Gebrselassie shifts into high gear and edges closer to the tall Kenya on the final straight. With both straining for the line, Gebrselassie leans in and steals the gold medal. It was a stunning climax to a contest with smart tactics, amazing athleticism, and Olympian determination. There is a worry that exciting moments like that will become fewer if current trends continue. Until now, the Diamond League had the 3,000 metres in some of its meets and the 5,000 in others. Starting in 2019, the 5000m will be eliminated completely. This follows the 2018 Athletics World Cup in London, which staged no race longer than the 3,000-metre steeplechase. Even though Kemoy Campbell reached the World 5,000-metre final in 2017, Jamaican track and field fans won’t be bothered too much. After all, our track and field heritage is filled with sprinters. While Gebrselassie and the Kenyan track and field federation complain, we might well be whistling ‘one love’. There is, however, cause for concern. The Ethiopians and Kenyans win the bulk of their medals in the long-distance events, and if those events are eventually distended from the World Championships and the Olympics, their fortunes will dwindle. In addition, those longer races made heroes of the Czech Emil Zatopek, Briton Mo Farah and Ethiopia’s baby-faced destroyer Tirunesh Dibaba and Kenenisa Bekele. All four are legends of the sport. In the short term as Gebrselassie says, Diamond League fans will see fewer of the best runners now. In the long run, having trimmed the distance portfolio, the search for time-saving and sponsorship might pick off other disciplines. Not long ago, it was banded about that the 200 metres, the 10,000 metres and the shot put were on the Olympic chopping block. If the 200m goes, something as elemental as the sprint double becomes a relic of the past. It sounds odd to us, but there are some who believe that the 200m is too similar to the 100m and the 400 metres. For those observers, it is surplus to requirements. Jamaican sprinters have been brilliant in the 200. Donald Quarrie, Usain Bolt, Veronica Campbell-Brown and Elaine Thompson have all been Olympic champions in this beautiful event. Bolt, VCB and Shelly-Ann Fraser Pryce are all world champions. Lest we forget, Jamaica has two 200 metre world records. The men’s outdoor mark rests with Usain Bolt at 19.19 seconds, and Merlene Ottey has the women’s indoor standard, at 21.87 seconds. Support distance races In fact, the 200m is to us what the 5000m and 10,000m are to the Kenyans and Ethiopians. The only logical thing is to support the continued inclusion of the distance races in the international track and field programme and to help to find ways to make them presentable to the public and the potential sponsor. If those events disappear and the drive continues to make track and field fit in a smaller space, disciplines like the 200m, the triple jump and the shotputcould be next. Like every sport, track and field needs sponsorship. To do that, it needs to hold the attention of wider audiences. To this end, much work is afoot to promote the generation of stars to step into Bolt’s big shoes. This deserves high commendation. Notwithstanding that, Gebrselassie’s hard-fought Olympic 10,000 metre win over Tergat was one of history’s best races. Moments like those illuminate sport and should be allowed to continue. Hubert Lawrence has made notes at trackside since 1980.last_img read more

Civilian killed in Ukraine shelling despite truce

first_imgSPARTAK, Ukraine — Shelling and other clashes between government forces and Russian-backed separatists threw the cease-fire agreement in eastern Ukraine into deepening peril Sunday, two days after it took hold.At least two houses hit by artillery fire blazed in the rural village of Spartak, which lies just north of the main rebel-held city of Donetsk and adjacent to the airport. A man whose house was struck by a shell said rebels had fired from a spot nearby, and that apparently provoked a retaliatory attack from Ukrainian government troops. A group of rebel fighters in the village danced and drank Sunday morning in celebration after what they said was a successful assault on a Ukrainian military encampment in the area. One said the group had captured eight government troops, though no captives could be seen.The fighter, who gave only the nom de guerre Khokhol, said the truce was not being respected by either side. “There was mortar shelling around 20 minutes ago here in Spartak,” he said. “There is no cease-fire for anyone.”last_img read more

Fuel leaking out of Jetstar Asias profits

first_imgSource = e-Travel Blackboard: N.J Jestar Asia profits drop 80 percent as fuel bills and competition increase. The cost of fuel is is eating into Jetstar Asia’s profits, according to financial reports, which found an 80 percent drop in the airline’s profit due to higher oil bills and competition.Profit reports lodged by Singaporean regulators revealed Jetstar Asia’s profit of S$4.37 million for the 12 months ending June 2012 were down from S$22.47 million, The Sydney Morning Herald reported. Although dubbed by Qantas to be one of its most profitable businesses, the airline has accumulated losses standing at S$67 million in 30 June 2012.In the same period, the airline’s fuel bill went up from S$128 million previously to S$214 million and its operating costs increased 29 percent. Meanwhile, over the year, competition in the region also increased, with the introduction of the low-cost carrier, Scoot Airlines.Owning up to 49 percent of the company, Jetstar Asia is one of Qantas’ biggest investments in the LCC market.  last_img read more