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Offerpad

ProptechUSA
📉 Public < $1B
Peak $3 BillionToday
~-99%
from peak
  1. 🦄
    Became a unicorn
    2021
  2. 📈
    Peak valuation
    $3 Billion ’21
  3. 💔
    Became a Unitard
    ~2022
  4. 💸
    Last valuation
    ~$30M
Current status
Public ~$0.03B micro-cap

How it happened

Offerpad is a US iBuyer that makes instant cash offers on homes, valued near $3B after going public via SPAC in 2021. The model proved vulnerable to the housing slowdown and rising rates, which hit margins on home flipping. Its stock collapsed to a micro-cap of roughly $0.03B, down about 99% from peak, after a reverse split and steep losses.

Source: stockanalysis.com