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Opendoor, a startup that buys and sells homes, said Thursday that it raised $400 million from SoftBank's Vision Fund, plus an additional $2 billion in debt financing from undisclosed banks. A source tells Axios that the equity valuation was north of $2 billion.

Why it matters: Opendoor is one of Silicon Valley's most daring bets, due to the risk it would face from a real estate market downturn.

  • Opendoor says it currently holds onto a house for an average of 90 days.

In addition to investing into its own home buying and selling services to customers, Opendoor is working on tools for buyers of non-Opendoor homes, says co-founder and CEO Eric Wu. He declined to share more details about how the company will do this, other than point to its recent acquisition of Los Angeles-based Open Listings.

Go deeper

Updated 1 hour ago - Politics & Policy

Top Pentagon officials contradict Biden on Afghanistan advice

Photo: Carolone Brehman/Pool/AFP via Getty Images

Top military leaders confirmed in a Senate hearing Tuesday they recommended earlier this year that the U.S. keep 2,500 troops in Afghanistan, and that they believed withdrawing those forces would lead to the collapse of the Afghan military.

Why it matters: Biden denied last month that his top military advisers wanted troops to remain in Afghanistan, telling ABC's George Stephanopoulos: "No one said that to me that I can recall."

Poll: Latinas more likely to open their own businesses, despite pandemic setbacks

Janie Isidoro, owner of My Corazon, a Chicano business in downtown Hanford, Calif. Photo: Al Seib/Los Angeles Times via Getty Images

Latinas in the U.S. are more likely to own, or plan to open, their own businesses than non-Hispanic women, despite the pandemic’s disproportionate burden, a recent poll found.

Why it matters: The survey, conducted by Telemundo, the Latino Victory Foundation and Hispanics Organized for Political Equality, suggests Latinas can be a driver of growth for the U.S. even though they have faced greater COVID-19-related setbacks.

Warren opposes Fed chair Powell's renomination, calls him a "dangerous man"

Sen. Elizabeth Warren speaks during a hearing before Senate Armed Services Committee on Sept. 28. Photo: Alex Wong/Getty Images

Sen. Elizabeth Warren (D-Mass.) questioned Federal Reserve chair Jerome Powell's record on financial regulation during a hearing Tuesday, calling him a "dangerous man" and saying that she would not support his renomination for a second term.

Driving the news: While the Fed chair’s term expires in early 2022, President Biden is expected to make a decision this fall on whether to reappoint Powell or nominate another candidate.