05:54 PM EDT, 09/10/2025 (MT Newswires) -- Opendoor Technologies ( OPEN ) said late Wednesday it named Kaz Nejatian as chief executive officer and a board member.

Nejatian was most recently the chief operating officer of Shopify ( SHOP ) , according to the company.

The company also appointed Khosla Ventures managing director Keith Rabois and NavigateAI co-founder Eric Wu to the board. Rabois will be board chairman while Wu will be a lead independent director, effective immediately, according to a statement.

Khosla Ventures and Wu also invested $40 million in Opendoor ( OPEN ) equity via a private placement. Proceeds will be used to fund continued investment in the business, according to the company.