OpenStore buys and operates Shopify-based direct-to-consumer brands, giving liquidity to merchants with roughly $500k–$10M in annual sales. It uses its Shopify data to quickly assess a business and, often within a day, makes a purchase offer and can close within a week; after acquisition, it handles marketing, supply chain, and customer service to grow the brands. The company differentiates itself with fast, data-driven liquidity and a hands-on, full-stack operating model, plus turning internal tools into market products like OpenDesk, an AI-powered customer-support tool. Its goal is to provide an easy exit path for sub-scale e-commerce entrepreneurs while building a broader technology platform for the e-commerce ecosystem.
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Industries
Company Size
1-10
Company Stage
Late Stage VC
Total Funding
$137M
Headquarters
Melbourne VIC, Australia
Founded
2021
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Total Funding
$137M
Above
Industry Average
Funded Over
0 Rounds
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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Industries
Company Size
1-10
Company Stage
Late Stage VC
Total Funding
$137M
Headquarters
Melbourne VIC, Australia
Founded
2021
Find jobs on Simplify and start your career today
We update OpenStore's jobs every few hours, so check again soon!Browse all jobs