OpenStore bags new funding as valuation soars to $970M

Aggregator
Written By Rick Watson

OpenStore is a company founded in 2021 as a way for Shopify entrepreneurs looking to move on to sell their businesses in a matter of days with a cash offer and less stressful experience.

Unlike many aggregators in the market, being Keith Rabois is likely a very good thing as the traditional valuation rules don’t necessarily apply to you due to your track record.  The big question I have is your valuation is this high, why do you need to raise only $32 million dollars? In this case, it seems the CEO wanted to work with a particular investor.  Unlike other aggregators, OpenStore has always put a big emphasis on its automated diligence process.

TechCrunch: Keith Rabois’ OpenStore bags new funding as valuation soars to $970M

Rick Watson

Rick Watson founded RMW Commerce Consulting after spending 20+ years as a technology entrepreneur and operator exclusively in the eCommerce industry with companies like ChannelAdvisor, BarnesandNoble.com, Merchantry, and Pitney Bowes.

Watson’s work today is centered on supporting investors and management teams incubating and growing direct-to-consumer businesses. Most recently, in partnership with WHP Global, Rick was a critical resource in architecting the WHP+ platform, a new turnkey direct to consumer digital e-commerce platform that powers AnneKlein.com and JosephAbboud.com.

Watson also hosts a weekly podcast, Watson Weekly, where he shares an unbiased, unfiltered expert take on the retail sector’s biggest players.

In the past year alone, Rick has spoken at many in-person and virtual events as well as podcasts on topics ranging from retail/ecom to supply chain/logistics and even digital grocery including CommerceNext IRL, ASCM Connect, and Retail Innovation Conference.

https://www.rmwcommerce.com/
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