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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.

Addition: The company also disclosed the homebuilder Lennar participated in its $210 million funding round last year, with Lennar COO Jon Jaffee joining Opendoor's board of directors.

More: Opendoor is officially adding Atlanta as its fourth market (along with Phoenix, Dallas-Forth Worth, and Las Vegas), and says it will expand to Orlando and Raleigh, N.C. later this month.

Correction: An earlier version of this story stated that the $110 million was a monthly sell figure.

Axios 54 mins ago
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Lauren Meier 11 mins ago
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Haspel cleared in probe on destruction of waterboarding tapes

CIA headqurters
A man crosses the Central Intelligence Agency (CIA) seal. Photo: SAUL LOEB/AFP/Getty Images

Amid controversy over President Trump's pick for Secretary of State, former CIA director Mike Pompeo, the spy agency has released a declassified memo to lawmakers that show Trump's pick to head the CIA, Gina Haspel, was cleared of wrongdoing in the destruction of videotapes showing terror suspects being waterboarded after 9/11, the AP reports.

Why it matters: Haspel has been met with stark criticism from Democrats and human rights groups, in an attempt to block her nomination to head the CIA, for events related to her time running one of the CIA's "black site" prisons in Thailand where Al Qaeda terror suspects were subjected to torture techniques, including waterboarding. Per the AP, the memo "did not satisfy opponents who want to know more details about her three-decade CIA career."