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Full-Time

Software Engineer

Back End

Posted on 6/18/2024

OpenStore

OpenStore

51-200 employees

Acquires and manages online businesses for resale

Consulting
Consumer Goods

Senior, Expert

New York, NY, USA

Category
Backend Engineering
Software Engineering
Required Skills
Kotlin
TypeScript
Product Design
Requirements
  • 5-8+ years of prior software engineering experience
  • Technical excellence in domain
  • Interest in building scaled systems
  • Team-oriented mentality
  • Familiarity with or willingness to learn TypeScript and Kotlin stack
  • Familiarity with Shopify ecosystem is a nice-to-have
Responsibilities
  • Identifying and exploiting opportunities for the company
  • Designing, developing, shipping, and maintaining complex systems
  • Contributing to future architecture of key systems and frameworks
  • Developing a technical vision and roadmap
  • Identifying and bringing tools and leverage to the company
  • Partnering with product, design, engineering, and operations teams

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 guarantees original owners a set monthly income during the management period, providing financial security as they transition out of their business. OpenStore's revenue comes from selling these curated products and from reselling the acquired businesses. Unlike many competitors, OpenStore offers a hassle-free acquisition process, often completing purchases in as little as two weeks. The goal of OpenStore is to support online business owners through a smooth transition while also expanding its portfolio of exclusive products.

Company Stage

Series B

Total Funding

$152M

Headquarters

Miami, Florida

Founded

2021

Growth & Insights
Headcount

6 month growth

-9%

1 year growth

-6%

2 year growth

7%
Simplify Jobs

Simplify's Take

What believers are saying

  • OpenStore's rapid growth and significant funding, including over $150 million in venture capital, indicate strong financial health and expansion potential.
  • The company's innovative approach to e-commerce, including successful initiatives like increasing Jack Archer's revenue from $1M to $10M, showcases its ability to scale businesses effectively.
  • OpenStore's commitment to employee well-being and creative collaboration, as evidenced by its expanded Miami office with wellness rooms and themed conference spaces, enhances its attractiveness as an employer.

What critics are saying

  • The reliance on acquiring and managing a diverse portfolio of online businesses could lead to operational complexities and integration challenges.
  • Guaranteeing a set monthly income to original business owners regardless of performance may strain financial resources if acquired businesses underperform.

What makes OpenStore unique

  • OpenStore's unique model of acquiring, managing, and reselling online businesses within a year, while guaranteeing a set monthly income to original owners, sets it apart from traditional e-commerce platforms.
  • The company's focus on curated products from exclusive brands and a hassle-free acquisition process finalized in as little as two weeks provides a distinct competitive edge.
  • OpenStore's strong backing from prominent investors like Lux Capital, Atomic, Founders Fund, and Khosla Ventures, along with its Miami-based operations, further differentiates it in the market.
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