SECURITIES AND EXCHANGE COMMISSION 

WASHINGTON, DC 20549

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934 

(Amendment No. 1) *

 

Opendoor Technologies Inc. 

(Name of Issuer)

 

Common Stock, par value $0.001 per share 

(Title of Class of Securities)

 

68372A 10 4 

(CUSIP Number)

 

December 31, 2021

(Date of Event Which Requires Filing of This Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

¨          Rule 13d-1(b)

 

x         Rule 13d-1(c)

 

¨          Rule 13d-1(d)

 

* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

 

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

 

 

 


CUSIP No. 68372A 10 4
13G  

 

1.

Names of Reporting Persons
GGV Capital V L.P.

 

2.

Check the Appropriate Box if a Member of a Group (see instructions)

 

 
  (a)   ¨  
  (b)   x (1)  
3.

SEC USE ONLY

 

 

4.

Citizenship or Place of Organization

Delaware, United States of America

 

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With:

5.

Sole Voting Power

 

 

6.

Shared Voting Power

17,442,762 shares of Common Stock (2)

 

7.

Sole Dispositive Power

 

 

8.

Shared Dispositive Power

17,442,762 shares of Common Stock (2)

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

17,442,762 shares of Common Stock (2)

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)

 

 

¨
11.

Percent of Class Represented by Amount in Row 9

2.8% of shares of Common Stock (3)

 

12.

Type of Reporting Person (see instructions)

PN

 

 

(1) This statement on Schedule 13G is filed by GGV Capital V L.P., GGV Capital V Entrepreneurs Fund L.P., GGV Capital Select L.P., GGV Capital V L.L.C., GGV Capital Select L.L.C., Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung (collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) The shares are held directly by GGV Capital V L.P. GGV Capital V L.L.C. serves as the General Partner of GGV Capital V L.P. As such, GGV Capital V L.L.C. possesses power to direct the voting and disposition of the shares owned by GGV Capital V L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital V L.P. GGV Capital V L.L.C. owns no securities of the Issuer directly. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung are Managing Directors of GGV Capital V L.L.C. As such, Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung possess power to direct the voting and disposition of the shares owned by GGV Capital V L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital V L.P. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung own no securities of the Issuer directly.

(3) The percentage of shares of Common Stock beneficially owned by each of the Reporting Persons as of December 31, 2021 is based on a total of 612,612,711 shares of the Issuer’s common stock outstanding as of November 3, 2021, as set forth in the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with the Securities and Exchange Commission on November 10, 2021.

 

 

 

 


CUSIP No. 68372A 10 4
13G  

 

1.

Names of Reporting Persons
GGV Capital V Entrepreneurs Fund L.P.

 

2.

Check the Appropriate Box if a Member of a Group (see instructions)

 

 
  (a)   ¨  
  (b)   x (1)  
3.

SEC USE ONLY

 

 

4.

Citizenship or Place of Organization

Delaware, United States of America

 

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With:

5.

Sole Voting Power

 

 

6.

Shared Voting Power

640,145 shares of Common Stock (2)

 

7.

Sole Dispositive Power

 

 

8.

Shared Dispositive Power

640,145 shares of Common Stock (2)

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

640,145 shares of Common Stock (2)

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)

 

 

¨
11.

Percent of Class Represented by Amount in Row 9

0.1% of shares of Common Stock (3)

 

12.

Type of Reporting Person (see instructions)

PN

 

 

(1) This statement on Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) The shares are held directly by GGV Capital V Entrepreneurs Fund L.P. GGV Capital V L.L.C. serves as the General Partner of GGV Capital V Entrepreneurs Fund L.P. As such, GGV Capital V L.L.C. possesses power to direct the voting and disposition of the shares owned by GGV Capital V Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital V Entrepreneurs Fund L.P. GGV Capital V L.L.C. owns no securities of the Issuer directly. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung are Managing Directors of GGV Capital V L.L.C. As such, Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung possess power to direct the voting and disposition of the shares owned by GGV Capital V Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital V Entrepreneurs Fund L.P. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung own no securities of the Issuer directly.

(3) The percentage of shares of Common Stock beneficially owned by each of the Reporting Persons as of December 31, 2021 is based on a total of 612,612,711 shares of the Issuer’s common stock outstanding as of November 3, 2021, as set forth in the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with the Securities and Exchange Commission on November 10, 2021.

 

 

 

 


CUSIP No. 68372A 10 4
13G  

 

1.

Names of Reporting Persons
GGV Capital V L.L.C.

 

2.

Check the Appropriate Box if a Member of a Group (see instructions)

 

 
  (a)   ¨  
  (b)   x (1)  
3.

SEC USE ONLY

 

 

4.

Citizenship or Place of Organization

Delaware, United States of America

 

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With:

5.

Sole Voting Power

 

 

6.

Shared Voting Power

18,082,907 shares of Common Stock (2)

 

7.

Sole Dispositive Power

 

 

8.

Shared Dispositive Power

18,082,907 shares of Common Stock (2)

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

18,082,907 shares of Common Stock (2)

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)

 

 

¨
11.

Percent of Class Represented by Amount in Row 9

3.0% of shares of Common Stock (3)

 

12.

Type of Reporting Person (see instructions)

OO

 

 

(1) This statement on Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) Consists of (i) 17,442,762 shares of Common Stock held directly by GGV Capital V L.P.; and (ii) 640,145 shares of Common Stock held directly by GGV Capital V Entrepreneurs Fund L.P. GGV Capital V L.L.C. serves as the General Partner of GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. As such, GGV Capital V L.L.C. possesses power to direct the voting and disposition of the shares owned by GGV Capital V L.P. and GGV Capital V Entrepreneur Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. GGV Capital V L.L.C. owns no securities of the Issuer directly. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung are Managing Directors of GGV Capital V L.L.C. As such, Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung possess power to direct the voting and disposition of the shares owned by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung own no securities of the Issuer directly.

(3) The percentage of shares of Common Stock beneficially owned by each of the Reporting Persons as of December 31, 2021 is based on a total of 612,612,711 shares of the Issuer’s common stock outstanding as of November 3, 2021, as set forth in the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with the Securities and Exchange Commission on November 10, 2021.

 

 

 

 


CUSIP No. 68372A 10 4
13G  

 

1.

Names of Reporting Persons
GGV Capital Select L.P.

 

2.

Check the Appropriate Box if a Member of a Group (see instructions)

 

 
  (a)   ¨  
  (b)   x (1)  
3.

SEC USE ONLY

 

 

4.

Citizenship or Place of Organization

Delaware, United States of America

 

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With:

5.

Sole Voting Power

 

 

6.

Shared Voting Power

7,330,756 shares of Common Stock (2)

 

7.

Sole Dispositive Power

 

 

8.

Shared Dispositive Power

7,330,756 shares of Common Stock (2)

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

7,330,756 shares of Common Stock (2)

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)

 

 

¨
11.

Percent of Class Represented by Amount in Row 9

1.2% of shares of Common Stock (3)

 

12.

Type of Reporting Person (see instructions)

PN

 

 

(1) This statement on Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) The shares are held directly by GGV Capital Select L.P. GGV Capital Select L.L.C. serves as the General Partner of GGV Capital Select L.P. As such, GGV Capital Select L.L.C. possesses power to direct the voting and disposition of the shares owned by GGV Capital Select L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital Select L.P. GGV Capital Select L.L.C. owns no securities of the Issuer directly. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung are Managing Directors of GGV Capital Select L.L.C. As such, Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung possess power to direct the voting and disposition of the shares owned by GGV Capital Select L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital Select L.P. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung own no securities of the Issuer directly.

(3) The percentage of shares of Common Stock beneficially owned by each of the Reporting Persons as of December 31, 2021 is based on a total of 612,612,711 shares of the Issuer’s common stock outstanding as of November 3, 2021, as set forth in the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with the Securities and Exchange Commission on November 10, 2021.

 

 

 

 


CUSIP No. 68372A 10 4
13G  

 

1.

Names of Reporting Persons
GGV Capital Select L.L.C.

 

2.

Check the Appropriate Box if a Member of a Group (see instructions)

 

 
  (a)   ¨  
  (b)   x (1)  
3.

SEC USE ONLY

 

 

4.

Citizenship or Place of Organization

Delaware, United States of America

 

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With:

5.

Sole Voting Power

 

 

6.

Shared Voting Power

7,330,756 shares of Common Stock (2)

 

7.

Sole Dispositive Power

 

 

8.

Shared Dispositive Power

7,330,756 shares of Common Stock (2)

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

7,330,756 shares of Common Stock (2)

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)

 

 

¨
11.

Percent of Class Represented by Amount in Row 9

1.2% of shares of Common Stock (3)

 

12.

Type of Reporting Person (see instructions)

OO

 

 

(1) This statement on Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) The shares are held directly by GGV Capital Select L.P. GGV Capital Select L.L.C. serves as the General Partner of GGV Capital Select L.P. As such, GGV Capital Select L.L.C. possesses power to direct the voting and disposition of the shares owned by GGV Capital Select L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital Select L.P. GGV Capital Select L.L.C. owns no securities of the Issuer directly. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung are Managing Directors of GGV Capital Select L.L.C. As such, Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung possess power to direct the voting and disposition of the shares owned by GGV Capital Select L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital Select L.P. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung own no securities of the Issuer directly.

(3) The percentage of shares of Common Stock beneficially owned by each of the Reporting Persons as of December 31, 2021 is based on a total of 612,612,711 shares of the Issuer’s common stock outstanding as of November 3, 2021, as set forth in the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with the Securities and Exchange Commission on November 10, 2021.

 

 

 

 


CUSIP No. 68372A 10 4
13G  

 

1.

Names of Reporting Persons
Jixun Foo

 

2.

Check the Appropriate Box if a Member of a Group (see instructions)

 

 
  (a)   ¨  
  (b)   x (1)  
3.

SEC USE ONLY

 

 

4.

Citizenship or Place of Organization

Singapore

 

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With:

5.

Sole Voting Power

 

 

6.

Shared Voting Power

25,413,663 shares of Common Stock (2)

 

7.

Sole Dispositive Power

 

 

8.

Shared Dispositive Power

25,413,663 shares of Common Stock (2)

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

25,413,663 shares of Common Stock (2)

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)

 

 

¨
11.

Percent of Class Represented by Amount in Row 9

4.1% of shares of Common Stock (3)

 

12.

Type of Reporting Person (see instructions)

IN

 

 

(1) This statement on Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) Consists of (i) 17,442,762 shares of Common Stock held directly by GGV Capital V L.P.; (ii) 640,145 shares of Common Stock held directly by GGV Capital V Entrepreneurs Fund L.P.; and (iii) 7,330,756 shares of Common Stock held directly by GGV Capital Select L.P. GGV Capital V L.L.C. serves as the General Partner of GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. As such, GGV Capital V L.L.C. possesses power to direct the voting and disposition of the shares owned by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. GGV Capital V L.L.C. owns no securities of the Issuer directly. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung are Managing Directors of GGV Capital V L.L.C. As such, Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung possess power to direct the voting and disposition of the shares owned by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. GGV Capital Select L.L.C. serves as the General Partner of GGV Capital Select L.P. As such, GGV Capital Select L.L.C. possesses power to direct the voting and disposition of the shares owned by GGV Capital Select L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital Select L.P. GGV Capital Select L.L.C. owns no securities of the Issuer directly. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung are Managing Directors of GGV Capital Select L.L.C. As such, Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung possess power to direct the voting and disposition of the shares owned by GGV Capital Select L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital Select L.P. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung own no securities of the Issuer directly.

(3) The percentage of shares of Common Stock beneficially owned by each of the Reporting Persons as of December 31, 2021 is based on a total of 612,612,711 shares of the Issuer’s common stock outstanding as of November 3, 2021, as set forth in the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with the Securities and Exchange Commission on November 10, 2021.

 

 

 

 


CUSIP No. 68372A 10 4
13G  

 

1.

Names of Reporting Persons
Glenn Solomon

 

2.

Check the Appropriate Box if a Member of a Group (see instructions)

 

 
  (a)   ¨  
  (b)   x (1)  
3.

SEC USE ONLY

 

 

4.

Citizenship or Place of Organization

United States of America

 

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With:

5.

Sole Voting Power

 

 

6.

Shared Voting Power

25,413,663 shares of Common Stock (2)

 

7.

Sole Dispositive Power

 

 

8.

Shared Dispositive Power

25,413,663 shares of Common Stock (2)

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

25,413,663 shares of Common Stock (2)

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)

 

 

¨
11.

Percent of Class Represented by Amount in Row 9

4.1% of shares of Common Stock (3)

 

12.

Type of Reporting Person (see instructions)

IN

 

 

(1) This statement on Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) Consists of (i) 17,442,762 shares of Common Stock held directly by GGV Capital V L.P.; (ii) 640,145 shares of Common Stock held directly by GGV Capital V Entrepreneurs Fund L.P.; and (iii) 7,330,756 shares of Common Stock held directly by GGV Capital Select L.P. GGV Capital V L.L.C. serves as the General Partner of GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. As such, GGV Capital V L.L.C. possesses power to direct the voting and disposition of the shares owned by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. GGV Capital V L.L.C. owns no securities of the Issuer directly. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung are Managing Directors of GGV Capital V L.L.C. As such, Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung possess power to direct the voting and disposition of the shares owned by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. GGV Capital Select L.L.C. serves as the General Partner of GGV Capital Select L.P. As such, GGV Capital Select L.L.C. possesses power to direct the voting and disposition of the shares owned by GGV Capital Select L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital Select L.P. GGV Capital Select L.L.C. owns no securities of the Issuer directly. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung are Managing Directors of GGV Capital Select L.L.C. As such, Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung possess power to direct the voting and disposition of the shares owned by GGV Capital Select L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital Select L.P. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung own no securities of the Issuer directly.

(3) The percentage of shares of Common Stock beneficially owned by each of the Reporting Persons as of December 31, 2021 is based on a total of 612,612,711 shares of the Issuer’s common stock outstanding as of November 3, 2021, as set forth in the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with the Securities and Exchange Commission on November 10, 2021.

 

 

 

 


CUSIP No. 68372A 10 4
13G  

 

1.

Names of Reporting Persons
Jenny Hong Wei Lee

 

2.

Check the Appropriate Box if a Member of a Group (see instructions)

 

 
  (a)   ¨  
  (b)   x (1)  
3.

SEC USE ONLY

 

 

4.

Citizenship or Place of Organization

Singapore

 

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With:

5.

Sole Voting Power

 

 

6.

Shared Voting Power

25,413,663 shares of Common Stock (2)

 

7.

Sole Dispositive Power

 

 

8.

Shared Dispositive Power

25,413,663 shares of Common Stock (2)

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

25,413,663 shares of Common Stock (2)

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)

 

 

¨
11.

Percent of Class Represented by Amount in Row 9

4.1% of shares of Common Stock (3)

 

12.

Type of Reporting Person (see instructions)

IN

 

 

(1) This statement on Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) Consists of (i) 17,442,762 shares of Common Stock held directly by GGV Capital V L.P.; (ii) 640,145 shares of Common Stock held directly by GGV Capital V Entrepreneurs Fund L.P.; and (iii) 7,330,756 shares of Common Stock held directly by GGV Capital Select L.P. GGV Capital V L.L.C. serves as the General Partner of GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. As such, GGV Capital V L.L.C. possesses power to direct the voting and disposition of the shares owned by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. GGV Capital V L.L.C. owns no securities of the Issuer directly. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung are Managing Directors of GGV Capital V L.L.C. As such, Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung possess power to direct the voting and disposition of the shares owned by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. GGV Capital Select L.L.C. serves as the General Partner of GGV Capital Select L.P. As such, GGV Capital Select L.L.C. possesses power to direct the voting and disposition of the shares owned by GGV Capital Select L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital Select L.P. GGV Capital Select L.L.C. owns no securities of the Issuer directly. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung are Managing Directors of GGV Capital Select L.L.C. As such, Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung possess power to direct the voting and disposition of the shares owned by GGV Capital Select L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital Select L.P. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung own no securities of the Issuer directly.

(3) The percentage of shares of Common Stock beneficially owned by each of the Reporting Persons as of December 31, 2021 is based on a total of 612,612,711 shares of the Issuer’s common stock outstanding as of November 3, 2021, as set forth in the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with the Securities and Exchange Commission on November 10, 2021.

 

 

 

 


CUSIP No. 68372A 10 4
13G  

 

1.

Names of Reporting Persons
Jeffrey Gordon Richards

 

2.

Check the Appropriate Box if a Member of a Group (see instructions)

 

 
  (a)   ¨  
  (b)   x (1)  
3.

SEC USE ONLY

 

 

4.

Citizenship or Place of Organization

United States of America

 

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With:

5.

Sole Voting Power

 

 

6.

Shared Voting Power

25,413,663 shares of Common Stock (2)

 

7.

Sole Dispositive Power

 

 

8.

Shared Dispositive Power

25,413,663 shares of Common Stock (2)

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

25,413,663 shares of Common Stock (2)

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)

 

 

¨
11.

Percent of Class Represented by Amount in Row 9

4.1% of shares of Common Stock (3)

 

12.

Type of Reporting Person (see instructions)

IN

 

 

(1) This statement on Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) Consists of (i) 17,442,762 shares of Common Stock held directly by GGV Capital V L.P.; (ii) 640,145 shares of Common Stock held directly by GGV Capital V Entrepreneurs Fund L.P.; and (iii) 7,330,756 shares of Common Stock held directly by GGV Capital Select L.P. GGV Capital V L.L.C. serves as the General Partner of GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. As such, GGV Capital V L.L.C. possesses power to direct the voting and disposition of the shares owned by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. GGV Capital V L.L.C. owns no securities of the Issuer directly. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung are Managing Directors of GGV Capital V L.L.C. As such, Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung possess power to direct the voting and disposition of the shares owned by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. GGV Capital Select L.L.C. serves as the General Partner of GGV Capital Select L.P. As such, GGV Capital Select L.L.C. possesses power to direct the voting and disposition of the shares owned by GGV Capital Select L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital Select L.P. GGV Capital Select L.L.C. owns no securities of the Issuer directly. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung are Managing Directors of GGV Capital Select L.L.C. As such, Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung possess power to direct the voting and disposition of the shares owned by GGV Capital Select L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital Select L.P. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung own no securities of the Issuer directly.

(3) The percentage of shares of Common Stock beneficially owned by each of the Reporting Persons as of December 31, 2021 is based on a total of 612,612,711 shares of the Issuer’s common stock outstanding as of November 3, 2021, as set forth in the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with the Securities and Exchange Commission on November 10, 2021.

 

 

 

 


CUSIP No. 68372A 10 4
13G  

 

1.

Names of Reporting Persons
Hans Tung

 

2.

Check the Appropriate Box if a Member of a Group (see instructions)

 

 
  (a)   ¨  
  (b)   x (1)  
3.

SEC USE ONLY

 

 

4.

Citizenship or Place of Organization

United States of America

 

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With:

5.

Sole Voting Power

 

 

6.

Shared Voting Power

25,413,663 shares of Common Stock (2)

 

7.

Sole Dispositive Power

 

 

8.

Shared Dispositive Power

25,413,663 shares of Common Stock (2)

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

25,413,663 shares of Common Stock (2)

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)

 

 

¨
11.

Percent of Class Represented by Amount in Row 9

4.1% of shares of Common Stock (3)

 

12.

Type of Reporting Person (see instructions)

IN

 

 

(1) This statement on Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) Consists of (i) 17,442,762 shares of Common Stock held directly by GGV Capital V L.P.; (ii) 640,145 shares of Common Stock held directly by GGV Capital V Entrepreneurs Fund L.P.; and (iii) 7,330,756 shares of Common Stock held directly by GGV Capital Select L.P. GGV Capital V L.L.C. serves as the General Partner of GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. As such, GGV Capital V L.L.C. possesses power to direct the voting and disposition of the shares owned by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. GGV Capital V L.L.C. owns no securities of the Issuer directly. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung are Managing Directors of GGV Capital V L.L.C. As such, Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung possess power to direct the voting and disposition of the shares owned by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. GGV Capital Select L.L.C. serves as the General Partner of GGV Capital Select L.P. As such, GGV Capital Select L.L.C. possesses power to direct the voting and disposition of the shares owned by GGV Capital Select L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital Select L.P. GGV Capital Select L.L.C. owns no securities of the Issuer directly. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung are Managing Directors of GGV Capital Select L.L.C. As such, Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung possess power to direct the voting and disposition of the shares owned by GGV Capital Select L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital Select L.P. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung own no securities of the Issuer directly.

(3) The percentage of shares of Common Stock beneficially owned by each of the Reporting Persons as of December 31, 2021 is based on a total of 612,612,711 shares of the Issuer’s common stock outstanding as of November 3, 2021, as set forth in the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with the Securities and Exchange Commission on November 10, 2021.

 

 

 

 


CUSIP No. 68372A 10 4
13G  

 

Introductory Note: This statement on Schedule 13G is filed on behalf of the Reporting Persons, in respect of the Common Stock, par value $0.001 per share Opendoor Technologies Inc. (the “Issuer”).

 

Item 1(a). Name of Issuer:             Opendoor Technologies Inc.

 

Item 1(b). Address of Issuer’s Principal Executive Officers:

 

410 N. Scottsdale Road, Suite 1600, Tempe, Arizona 85281

 

Item 2(a). Name of Person(s) Filing:

 

GGV Capital V L.P.
GGV Capital V Entrepreneurs Fund L.P.
GGV Capital V L.L.C.
GGV Capital Select L.P.
GGV Capital Select L.L.C.
Jixun Foo
Glenn Solomon
Jenny Hong Wei Lee
Jeffrey Gordon Richards
Hans Tung

 

Item 2(b). Address of Principal Business Office:

 

GGV Capital 

3000 Sand Hill Road, Suite 4-230 

Menlo Park, California 94025 

United States of America

 

Item 2(c). Citizenship or Place of Organization:

 

Name Citizenship or Place of Organization
1.       GGV Capital V L.P. Delaware, United States of America
2.       GGV Capital V Entrepreneurs Fund L.P. Delaware, United States of America
3.       GGV Capital V L.L.C. Delaware, United States of America
4.       GGV Capital Select L.P. Delaware, United States of America
5.       GGV Capital Select L.L.C. Delaware, United States of America
6.       Jixun Foo Singapore
7.       Glenn Solomon United States of America
8.       Jenny Hong Wei Lee Singapore
9.       Jeffrey Gordon Richards United States of America
10.     Hans Tung United States of America

 

Item 2(d). Title of Class of Securities:             Common Stock, par value $0.001 per share

 

Item 2(e). CUSIP Number:             68372A 10 4

 

Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a:

 

Not applicable.

 

 

 

 


CUSIP No. 68372A 10 4
13G  

 

Item 4(a). Amount Beneficially Owned:

 

Item 4(b). Percent of Class:

 

Item 4(c). Number of shares as to which such persons have:

 

The following information with respect to the ownership of Common Stock of the Issuer by the Reporting Persons filing this statement on Schedule 13G as of December 31, 2021:

 

Reporting Persons   Shares Held
Directly (1)
   

Shared

Voting

Power

    Shared
Dispositive
Power
    Beneficial
Ownership
    Percentage
of shares of Common Stock (3)
GGV Capital V L.P.     17,442,762       17,442,762       17,442,762       17,442,762     2.8% of shares of Common Stock
GGV Capital V Entrepreneurs Fund L.P.     640,145       640,145       640,145       640,145     0.1% of shares of Common Stock
GGV Capital V L.L.C. (2)     0       18,082,907       18,082,907       18,082,907     3.0% of shares of Common Stock
GGV Capital Select L.P.     7,330,756       7,330,756       7,330,756       7,330,756     1.2% of shares of Common Stock
GGV Capital Select L.L.C. (2)     0       7,330,756       7,330,756       7,330,756     1.2% of shares of Common Stock
Jixun Foo (2)     0       25,413,663       25,413,663       25,413,663     4.1% of shares of Common Stock
Glenn Solomon (2)     0       25,413,663       25,413,663       25,413,663     4.1% of shares of Common Stock
Jenny Hong Wei Lee (2)     0       25,413,663       25,413,663       25,413,663     4.1% of shares of Common Stock
Jeffrey Gordon Richards (2)     0       25,413,663       25,413,663       25,413,663     4.1% of shares of Common Stock
Hans Tung (2)     0       25,413,663       25,413,663       25,413,663     4.1% of shares of Common Stock

 

(1) Represents the number of shares of Common Stock currently held by the Reporting Persons.

(2) GGV Capital V L.L.C. serves as the General Partner of GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. As such, GGV Capital V L.L.C. possesses power to direct the voting and disposition of the shares owned by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. GGV Capital V L.L.C. owns no securities of the Issuer directly. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung are Managing Directors of GGV Capital V L.L.C. As such, Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung possess power to direct the voting and disposition of the shares owned by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital V L.P. and GGV Capital V Entrepreneurs Fund L.P. GGV Capital Select L.L.C. serves as the General Partner of GGV Capital Select L.P. As such, GGV Capital Select L.L.C. possesses power to direct the voting and disposition of the shares owned by GGV Capital Select L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital Select L.P. GGV Capital Select L.L.C. owns no securities of the Issuer directly. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung are Managing Directors of GGV Capital Select L.L.C. As such, Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung possess power to direct the voting and disposition of the shares owned by GGV Capital Select L.P. and may be deemed to have indirect beneficial ownership of the shares held by GGV Capital Select L.P. Jixun Foo, Glenn Solomon, Jenny Hong Wei Lee, Jeffrey Gordon Richards and Hans Tung own no securities of the Issuer directly.

(3) The percentage of shares of Common Stock beneficially owned by each of the Reporting Persons as of December 31, 2021 is based on a total of 612,612,711 shares of the Issuer’s common stock outstanding as of November 3, 2021, as set forth in the Issuer’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed with the Securities and Exchange Commission on November 10, 2021.

 

Item 5. Ownership of Five Percent or Less of a Class:

 

If this statement is being filed to report the fact that as of the date hereof, the Reporting Persons have ceased to be the beneficial owner of more than five percent of the class of securities, check the following: x

 

Item 6. Ownership of More Than Five Percent on Behalf of Another Person:

 

Not applicable.

 

Item 7. Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company:

 

Not applicable.

 

 

 

 


CUSIP No. 68372A 10 4
13G  

 

Item 8. Identification and Classification of Members of the Group:

 

Not applicable.

 

Item 9. Notice of Dissolution of Group:

 

Not applicable.

 

Item 10. Certification:

 

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

 

 

 

 


CUSIP No. 68372A 10 4
13G  

 

SIGNATURES

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Dated: February 14, 2022

 

GGV Capital V L.P. 

GGV CAPITAL V ENTREPRENEURS FUND L.P. 

BY: GGV Capital V L.L.C. 

ITS: General Partner

 

By: /s/ Terence Jen   
  Terence Jen   
  Attorney-in-fact  

 

GGV Capital V L.L.C.

 

By: /s/ Terence Jen   
  Terence Jen   
  Attorney-in-fact  

 

GGV CAPITAL SELECT L.P. 

BY: GGV Capital SELECT L.L.C. 

ITS: General Partner

 

By: /s/ Terence Jen   
  Terence Jen   
  Attorney-in-Fact  

 

GGV Capital SELECT L.L.C.

 

By: /s/ Terence Jen   
  Terence Jen   
  Attorney-in-Fact  

 

/s/ Jixun Foo   
Jixun Foo  
   
/s/ Glenn Solomon   
Glenn Solomon  
   
/s/ Jenny Hong Wei Lee   
Jenny Hong Wei Lee  
   
/s/ Jeffrey Gordon Richards   
Jeffrey Gordon Richards  
   
/s/ Hans Tung   
Hans Tung  

 

 

 

 


CUSIP No. 68372A 10 4
13G  

 

Exhibit(s):

 

Exhibit 99.1:          Joint Filing Statement

 

 

 

 


CUSIP No. 68372A 10 4
13G  

 

AGREEMENT

 

Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree that only one statement containing the information required by Schedule 13G need be filed with respect to the ownership by each of the undersigned of Common Stock of Opendoor Technologies Inc.

 

Dated: February 14, 2022

 

GGV Capital V L.P. 

GGV CAPITAL V ENTREPRENEURS FUND L.P. 

BY: GGV Capital V L.L.C. 

ITS: General Partner

 

By: /s/ Terence Jen   
  Terence Jen   
  Attorney-in-fact  

 

GGV Capital V L.L.C.

 

By: /s/ Terence Jen   
  Terence Jen   
  Attorney-in-fact  

 

GGV CAPITAL SELECT L.P. 

BY: GGV Capital SELECT L.L.C. 

ITS: General Partner

 

By: /s/ Terence Jen   
  Terence Jen   
  Attorney-in-Fact  

 

GGV Capital SELECT L.L.C.

 

By: /s/ Terence Jen   
  Terence Jen   
  Attorney-in-Fact  

 

/s/ Jixun Foo   
Jixun Foo  
   
/s/ Glenn Solomon   
Glenn Solomon  
   
/s/ Jenny Hong Wei Lee   
Jenny Hong Wei Lee  
   
/s/ Jeffrey Gordon Richards   
Jeffrey Gordon Richards  
   
/s/ Hans Tung   
Hans Tung  

 

 

 

 

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