Offerpad raises $90M and cuts jobs

Like other iBuyers, Offerpad has hemmorhagged money as the market turned and it was stuck with inventory it had to sell at losses. The company recently raised $90 million in a private fundraising effort, which also came with an unspecified number of layoffs. More details of the raise, any adaptations to its model and the layoffs will be laid out on its fourth quarter 2022 earnings release.