OpenStore is an e-commerce company that acquires and operates Shopify businesses. Founded in 2021 by Keith Rabois, Jack Abraham, Michael Rubenstein, Matt Lanter, and Jeremy Wood, the company leverages its founders' expertise in e-commerce, M&A, engineering, and venture capital. OpenStore provides instant liquidity for Shopify entrepreneurs, enabling them to receive cash offers within 24 hours and complete deals in a matter of days.
With over 40 brands acquired across categories like apparel, home goods, and electronics, OpenStore is building a decentralized online department store. The company utilizes economies of scale and automation across functions like supply chain, marketing, and customer service to operate these brands efficiently post-acquisition. OpenStore recently launched Drive, allowing merchants to receive guaranteed monthly income while the company manages their operations for a year.
Rabois, a former executive at PayPal, LinkedIn, and Square, leads OpenStore as CEO. Abraham previously founded venture studio Atomic, which has launched successful startups like Hims and Replicant. The well-funded and fast-growing team aims to reshape e-commerce through technology, consolidation, and a data-driven approach.
2021
Founded
100-250
Employees
Series B
Stage
$970M
Latest Valuation
$100-200M
Total Funding
Aug 29 2022
Last Fundraise
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