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Opendoor home purchases top $100 million per month

Opendoor's mobile app showing an available home. Photo: Opendoor

Opendoor, a San Francisco-based startup launched three years ago to buy and sell homes online, says that it a $1.3 billion annual purchase rate.

Bottom line: "It really shows that this new behavior of selling your home online is more mainstream than it seemed," Opendoor CEO Eric Wu tells Axios. The company's model, in which it purchases and then resells the homes itself, has faced skepticism from the get-go.