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Overview
OpenStore buys and runs Shopify-based direct-to-consumer brands. It provides liquidity to merchants with roughly $500k–$10M in annual sales by quickly evaluating a business using Shopify data and making an offer within a day, then closing in about a week. After acquisition, it handles marketing, supply chain, and customer service to grow the brands, earning revenue from a portfolio of 40+ brands across apparel, home goods, and beauty. It also productizes internal tools, like OpenDesk, an AI-powered customer-support tool, turning its tech into solutions for the wider e-commerce ecosystem.
About OpenStore
Industries
Consumer Software
Enterprise Software
Financial Services
Consumer Goods
Company Size
1-10
Company Stage
Late Stage VC
Total Funding
$137M
Headquarters
Melbourne, Australia
Founded
2021
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Simplify's Take
What believers are saying
- OpenStore redirected resources toward Jack Archer after August 2025, concentrating on its best brand.
- OpenDesk gives OpenStore a sellable software product for other Shopify brands.
- Existing backers joined the July 2025 recapitalization, preserving runway through the restructuring.
What critics are saying
- CNBC reported August 2025 OpenStore shut nearly all 40-plus stores and liquidated inventory.
- Bloomberg reported July 2025 OpenStore cut valuation 95% to $50 million.
- OpenStore laid off about 20% in 2024 and again in June 2025; Jack Archer failure kills the platform.
What makes OpenStore unique
- OpenStore prices Shopify businesses from live store data, not banker diligence.
- It offers founders fast liquidity, with offers in 24 hours and closes within a week.
- Jack Archer and OpenDesk show a built-in operating system, not just acquisition capital.
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Funding
Total Funding
$137M
Above
Industry Average
Funded Over
0 Rounds
Benefits
Health Insurance
Dental Insurance
Vision Insurance
Company Equity
401(k) Company Match
Unlimited Paid Time Off
Fitness Stipend
Fertility Treatment Support
Meal Benefits
Company News
The dramatic downsizing to a single brand comes as OpenStore in recent weeks raised a $15 million funding round that valued the company at just $50 million, a fraction of its previous $1 billion valuation, CNBC has confirmed.
OpenStore to spend $5 Million to occupy 113,000 square feet of space in Kansas City Missouri. OpenStore to spend $5 Million to occupy 113,000 square feet of space in Kansas City Missouri.Kansas City, Missouri — According to state and local development sources, OpenStore plans to invest $5,000,000.00 to build out 113,000 square feet of new space in Kansas City. The company plans to occupy the new space in Kansas City, on or about June 1, 2025. According to the company website OpenStore is on a mission to inspire entrepreneurs and shoppers to find something new. We give entrepreneurs the simplest way to sell their e-commerce businesses and receive liquidity. Weve paid millions of dollars to entrepreneurs all over the country, freeing them up to start new companies, spend time with family, or take a well-deserved break
OpenStore invests $5 million in Kansas City fulfillment hub.
OpenStore, an innovative e-commerce platform transforming how businesses scale and operate, announced today that it will establish its first-ever fulfillment center in Kansas City, investing $5 million and creating 46 new jobs.
While at Founders Fund, Rabois made investments including fintech unicorn Ramp, industrial staffing startup Traba and small business-focused banking, bookkeeping and tax platform Found; he also cofounded online merchant acquirer OpenStore, which itself has raised more than $100 million in funding.
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About OpenStore
Industries
Consumer Software
Enterprise Software
Financial Services
Consumer Goods
Company Size
1-10
Company Stage
Late Stage VC
Total Funding
$137M
Headquarters
Melbourne, Australia
Founded
2021
There are no jobs for OpenStore right now.
Find jobs on Simplify and start your career today