Possible new RE Startup called Opendoor

[Kwambe H.]

I noticed an interesting article come across venturebeat today about a new startup that supposedly will make buying/selling homes easier. Being an IT guy and budding investor/entrepreneur, this article piqued my interest. Here's an excerpt that I thought was interesting:

"The startup will “work with sellers directly to purchase home[s],” “work with local partners to rehab, maintain, and improve our portfolio of properties,” and “partner with local brokers and Realtors to market, list on [the multiple listing service], and resell to retail buyers and investors,” according to the site online now at opendoor.com."

Although I'm still learning the ropes when it comes to wholesaling, it would seem to me that this could serve as direct competition to wholesalers. There isn't much info out on the business, so I'm not sure if the business functions within the wholesaler role only, or if just offers an environment for the seller/wholesaler/buyer to interact amongst one another. I was just curious if anyone knew/heard anything about this startup, or had any thoughts on what something like this could mean for the industry if it were to become successful.

Here's the link to the VentureBeat article.

To the mod gods: I posted the link for the sole purpose of discussion. It was not my intention to promote anything outside of said discussion.

Thoughts?