The hybrid and work-from-home trend is driving the housing market to frenzied levels. Homes are selling at record speed; the median number of days a home sits on the market is down to 3 in some popular markets. With such competition, buyers need to ensure they are presenting the most competitive and clean offers in order to ensure they are able to purchase their desired properties. Ribbon is a homeownership facilitation platform that lets existing homeowners submit all-cash offers for new properties. Ribbon’s clients, introduced through agents and lending partners, are able to avoid contingencies that can delay and derail deals in this market and sellers are guaranteed prompt payment without drawn-out closings. Founded in 2017, the startup currently operates in six states with plans to expand its footprint to include more markets and more product offerings. AlleyWatch caught up with Ribbon CEO and Cofounder Shaival Shah to learn more about the company, the state of the red-hot housing market, strategic plans, and latest round of funding from investors that include Greenspring Associates, Greylock, Bain Capital Ventures, NFX, Nyca, Thomvest, Jake Seid, First American Financial, Waterfall Asset Management, TriplePoint Capital, 75 & Sunny Ventures, Gary Beasley, Gregor Watson, and Guy Gal.
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