The document proposes a new model of collaborative living called "coliving" that is designed for millennials. It involves renting furnished private rooms within large communal homes that are professionally managed and designed to foster meaningful connections and a sense of community among residents through regular shared meals and events. The model offers an alternative to random roommates by creating carefully designed living spaces and cultures that improve the resident experience while also allowing for higher real estate densities and profits. The founders have already launched three pilot homes in the San Francisco Bay Area with over 30 residents and plan to partner with developers to expand the concept nationally to properties with 50+ bedrooms.

1. Live Better Together.
www.opendoor.io 1

2. 2
The mainstream real estate industry is out of
touch with deeper needs, values and
aspirations of Millennials.
We are reimagining home for the collaborative
age – as a platform for living with connection,
creativity and purpose.
We are building a residential real estate brand
and national network of spaces for modern,
shared living.

3. Customer Profile and Need
Millennials and Cultural Creatives seek out
meaningful experiences + connections.
• 25-35 y/o singles and couples
• Creative professionals, entrepreneurs, artists,
freelancers etc.
• Desire lifestyle rich in learning, growth,
creativity + community
• Sharing economy “natives” who choose
experiences + access over ownership
3

4. Market Opportunity
• Alternative to random
Craigslist roommates
• 88% of Millennial renters
live w/ roommates
• Coliving is a better
roommate experience
TAM of roommate
renters = $105B
10% coliving market
penetration = $10.5B
10% OpenDoor market
share = $1.05B
Millennial Renting Trends
4

5. 5
Home as a
Lifestyle Platform
People deeply crave a sense of
community + belonging. We create
collaborative living spaces that enable
more meaningful, connected lives.
We apply human-centered design to
home, going beyond traditional real
estate thinking to design spaces and
culture for a better resident experience.

6. • Rent private room with access to beautifully
designed + furnished common areas
• Live with close-knit group of like-minded
people, as part of a true community
• Attend regular community dinners + outings
• Host or join interesting events, workshops,
and creative projects
• Home serves as a learning + sharing platform
• Enjoy a clean, organized, and professionally
managed space
6
The Resident Experience

7. Value Proposition
• Sophisticated resident
selection process
• Uniquely branded +
themed spaces
• Community-building
methodology to fosters
authentic culture
• Furnished common
areas + kitchen
• Shared food program
• Collective decision
making tools
• Plug & play property
management
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We create the conditions for authentic
community: systems, services + culture.

8. Traction and Track Record
• 3 houses, 38 residents, $6M AUM, and
$50,000/mo in gross rents
• 800+ person Bay Area waiting list
• Road-tested model + operations playbook
• 3 partnerships with developers
• 150 bedrooms in pipeline with developers
• National press + speaking engagements
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9. 9
16BR 6400 sqft newly renovated Victorian, opened April 2014
12BR 5800 sqft 3-unit mixed-use building, opened March 2015
Purchased + remodeled by OpenDoor, raised $500K in equity
11BR, 6200 sqft historic manor, opened March 2016

10. Profitability
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• Higher bedroom
count + shared
spaces increases
density
• Higher profit real
estate
• Simultaneously,
Residents get more
for less: more
space, better
amenities + highly
desirable lifestyle

11. 11
• High-density urban
• Apartment building
with 50+ bedrooms
• Split into 10-15BR
coliving “pods” with
common kitchen +
living space
• Coliving is an inevitable
movement, with new
projects worldwide
A New Housing Concept
+ Asset Class

12. Real Estate Strategy
• Provide concept, brand + management
• Target larger properties (50+ bedrooms)
• Secure developer / owner partnerships for
retrofits + new construction
• Sign-on consistent, large capital partners
to back deals
• Roll out to a national urban network
• Mature into investment + development
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13. The Team
13
Ben Provan, cofounder
Jay Standish, cofounder
Stonington Cox
• Role: COO: Systems, Finance, Product
Cornell Mechanical Engineer + Product Designer
• MBA in Sustainable Systems, Pinchot University
• Role: CEO: Brand + Business Development
• Co-founder Impact Hub Seattle
• MBA in Sustainable Systems, Pinchot University
• Role: Board Member, Real Estate Advisor
• 15yr real estate professional
• 9 years investment banking + private equity
• MBA Columbia Business School

14. Advisory Board
14
Rahmin Sarabi
Strategy Advisor
Eric De Feo
Brand + UX Advisor + Investor
Jessy Kate Schingler
Coliving Advisor + Co-founder.
Jeff Mendelsohn
Entrepreneurship Advisor
Charley Long
Real Estate Advisor