Property technology startup Opendoor aims to go public, in advanced talks with Social Capital Hedosophia Holdings Corp

According to a report from Bloomberg citing sources with knowledge of the matter at hand, property technology startup Opendoor, is holding advanced talks to go public through a merger with blank-check company Social Capital Hedosophia Holdings Corp.

The report states, Social Capital is negotiating with prospective investors to raise fresh equity to help fund its deal with Opendoor.

The potential deal, expected to be announced in coming weeks, will value the company at around $5 billion, said te report.

Sources have however cautioned that the transaction has not been finalized and that talks could potentially fall apart.

Neither Social Capital nor Opendoor immediately responded to request for comments.

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