OpenStore

Acquires and manages online businesses for resale

Miami, Florida, United States

About OpenStore

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 safety net for business owners by guaranteeing them a set monthly income during the management period, regardless of the business's performance. This approach allows sellers to transition smoothly while OpenStore handles operations. The company generates revenue through the sale of these curated products and from reselling the acquired businesses. OpenStore differentiates itself with a hassle-free acquisition process, promising to finalize purchases in as little as two weeks. The goal is to support online business owners in selling their businesses while also offering a range of exclusive products to consumers.

Miami, FloridaHeadquarters
2021Year Founded
$133.3MTotal Funding
LATE_VCCompany Stage
Consulting, Consumer GoodsIndustries
51-200Employees

Benefits

Health Insurance
Dental Insurance
Vision Insurance
Company Equity
401(k) Company Match
Unlimited Paid Time Off
Fitness Stipend
Fertility Treatment Support
Meal Benefits

Risks

Increased competition from e-commerce aggregators like Thrasio and Perch.
Potential over-reliance on Shopify's platform poses business model risks.
Rapid expansion could strain financial resources if not matched by revenue growth.

Differentiation

OpenStore offers a unique blend of acquisition, management, and resale services.
The company guarantees a set monthly income during business transitions.
OpenStore finalizes business purchases in as little as two weeks.

Upsides

OpenStore's $5M investment in Kansas City hub enhances logistics efficiency.
OpenStore Live events foster community engagement and brand loyalty.
Expansion in Miami reflects growth commitment and attracts top talent.

Funding

Total raised$133.26 M
Latest valuation$970.00 M
StageLATE_VC