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
Why is the rating
Top Previous Employers
Amazon
DoorDash
Meta
Square
Investors
Founders Fund
Facebook, SpaceX, Affirm
General Catalyst
Airbnb, Snap, Gusto
Khosla Ventures
OpenAI, Square, Oscar