Inman Connect
Offerpad, an iBuyer making major waves in how homes in many major cities are sold, has been on an unstoppable course of growth for more than half a decade. Launched in 2015, the company now operates in over 1,000 cities in ten states, and has closed 30,000 transactions and nearly $7 billion in gross transaction value since its founding.
In March, Offerpad revealed that it was planning to go public through a merger with a SPAC started by Spencer Rascoff, the former CEO and co-founder of Zillow. While an exact date has not yet been set, the announcement made major news. By merging with Supernova Partners Acquisition Company, Inc. similarly to how its top iBuying rival Opendoor went public in December, Offerpad is expected to have its post-transaction equity value reach $3 billion.