"Opendoor Technologies is going all in on its new CEO, a former Shopify executive, with an aggressive compensation package that could see him clear $2.78 billion and own nearly 12% of the company. But to earn that, he'll have to more than triple the share price at a real estate technology company some have dismissed as a buzzy meme stock."
"In the meantime, Nejatian will have Opendoor's founders-Eric Wu and Khosla Ventures' Keith Rabois-overseeing him on the board. Wu served as Opendoor's CEO from 2013 to 2022 and chaired the board from 2020 to 2022. Rabois, who served on the boards of Reddit and Yelp and currently serves as a director of Ramp, was appointed chairman. In a press release, Opendoor said it was "going into founder mode" with Nejatian's appointment"
The 24th annual Brainstorm Tech convened in Park City and featured interviews with founders and CEOs including John Furner, Tony Xu, Jeff Wilke, and Chris Barman. Technology leaders at the event discussed solutions for pressing societal issues and signaled optimism about technology’s role in addressing challenges. Opendoor Technologies named a former Shopify executive as its new CEO with a compensation package that could total $2.78 billion and nearly 12% equity if performance targets are met. Founders Eric Wu and investor Keith Rabois will oversee the CEO on the board, with Rabois appointed chairman. Nejatian previously cofounded and ran a payments startup and served as Shopify COO.
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