San Francisco-based Opendoor Technologies, which operates an online real estate platform, announced Nejatian’s appointment after markets closed on Wednesday. In a regulatory filing, Shopify said other members of its executive team will assume his responsibilities. (The Logic)

Talking point: Nejatian joined Ottawa-headquartered Shopify from Facebook in September 2019 to lead the Canadian company’s financial services unit. He quickly rose up the executive ranks, initially taking over the firm’s lucrative merchant solutions business, which sells services like payment processing, lending and shipping. In September 2022, Nejatian was named COO, part of a major shuffle of the firm’s leadership during the pandemic. Shopify CEO Tobi Lütke has periodically retaken control of the firm’s product teams over the firm’s history. In a post on X, Nejatian said he was joining Opendoor because making it easier to buy a home “empowers the promise of the West to be unlocked.”