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About OpenStore
Industries
Consulting
Consumer Goods
Company Size
51-200
Company Stage
Late Stage VC
Total Funding
$137M
Headquarters
Miami, Florida
Founded
2021
Overview
OpenStore operates in the e-commerce sector by acquiring online businesses, managing them for a year, and selling curated products from exclusive brands. The company provides a unique service to online store owners who want to sell their business, offering a guaranteed monthly income during the management period, regardless of the business's performance. This safety net ensures that sellers have a steady income while transitioning out of their business. OpenStore generates revenue through the sale of these curated products and from reselling the businesses it acquires. The company differentiates itself with a hassle-free acquisition process, promising to complete business purchases in as little as two weeks. The goal of OpenStore is to create a seamless experience for online business owners, allowing them to sell their businesses with confidence and providing curated products to consumers.
Simplify's Take
What believers are saying
- OpenStore's $5 million investment in Kansas City will create 46 new jobs.
- The company's focus on AI-driven personalization can enhance customer experience and sales.
- OpenStore's expansion in Miami signals growth and commitment to the local tech community.
What critics are saying
- Increased competition from e-commerce aggregators like Thrasio and Perch.
- Dependence on Shopify's platform could pose risks if terms change.
- Rapid expansion may strain resources, as seen with the Kansas City hub investment.
What makes OpenStore unique
- OpenStore offers a unique blend of acquisition, management, and resale services.
- The company guarantees a set monthly income to sellers during the transition period.
- OpenStore promises a hassle-free acquisition process, finalizing purchases in two weeks.
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Funding
Total Funding
$137M
Above
Industry Average
Funded Over
3 Rounds
General Catalyst
Founders FundBenefits
Health Insurance
Dental Insurance
Vision Insurance
Company Equity
401(k) Company Match
Unlimited Paid Time Off
Fitness Stipend
Fertility Treatment Support
Meal Benefits
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 1%2 year growth
↑ 1%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.
How one of Miami’s buzziest startups could be producing the next generation of #MiamiTech leadersBy Riley KaminerThe year is 2002. eBay acquires PayPal, turning some of the world’s leading startup talent into free agents. This diaspora, later dubbed the “PayPal Mafia,” included some now globally-recognizable names such as David Sacks, Peter Thiel, Elon Musk.And Keith Rabois.Three years ago, in the middle of the pandemic, Rabois made a splash in the #MiamiTech ecosystem by vocally supporting our fledgling but rapidly-growing ecosystem. Since then, he’s made a point to support our local innovation ecosystem in various ways – first and foremost, through his X account. Rabois then opened an office for Founders Fund, the venture capital firm where he is a partner.In 2021, when Rabois decided to jump back into a CEO role after focusing primarily on investing, he set up shop in Miami. His latest venture, OpenStore, focuses on acquiring and growing online brands
OpenStore is Hiring for 5 Jobs on Simplify!
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About OpenStore
Industries
Consulting
Consumer Goods
Company Size
51-200
Company Stage
Late Stage VC
Total Funding
$137M
Headquarters
Miami, Florida
Founded
2021
OpenStore is Hiring for 5 Jobs on Simplify!
Find jobs on Simplify and start your career today
People Also Viewed
Discover companies similar to OpenStore