Global Retail Alliance
info@gra.world
  • Login
  • Register
  • Newsletter
  • Virtual Library
  • Choose your country
    • Australia
    • Brazil
    • China
    • Poland
    • Latin America
    • Middle East
GRAGRA
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • Event
  • News
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • Event
  • News
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact

Retail News

  • Home
  • Retail News
  • Keith Rabois’ new startup will buy up e-commerce businesses

Keith Rabois’ new startup will buy up e-commerce businesses

  • Categories Retail News, Top News
  • Date March 17, 2021
  • Comments 0 comment

Venture capitalists Keith Rabois has teamed up with Atomic’s Jack Abraham as founders of OpenStore, a stealthy company that plans to acquire a number of small e-commerce businesses, Axios has learned.

Why it matters: The last startup Rabois formed was Opendoor, a home buying and selling platform that was initially ridiculed by some top real estate industry execs. Then companies like Zillow copied the model and Opendoor eventually went public via SPAC, with a current market cap north of $15 billion.

Details: OpenStore will be based in Miami, where Rabois loudly relocated to last year from Silicon Valley, and already has hired around a half dozen employees.

  • It’s being launched in partnership with venture studio Atomic, whose founder Jack Abraham is another recent Miami transplant.
  • Expect initial funding to come from both Atomic and Founders Fund, where Rabois is a general partner.

Shopping spree: OpenStore is part of a broader consolidation trend in e-commerce, as evidenced by a recent spate of Amazon seller rollups.

  • A source describe the company as “Opendoor for e-commerce businesses.” But that appears to be something of a misnomer, as we hear that OpenStore doesn’t plan to flip the companies it buys.
  • We are hearing consistently that it won’t be just a carbon copy of other e-commerce consolidation plays, which effectively means more info to come.

Atomic and Founders Fund declined comment.

The bottom line: Rabois doesn’t lack for ambition or bravado, and just upended the staid residential real estate market. So all eyes should be on what he does with digital retail.

Source: Axion.com

  • Share:
gsiino

Previous post

Amazon unseats Walmart to become the No. 1 apparel retailer in U.S., Wells Fargo says
March 17, 2021

Next post

Ocado Retail sees revenues rocket 40% thanks to “permanent shift to online grocery”
March 18, 2021

You may also like

Senza-titolo-1
Walmart Has a New Idea to Take on Amazon
10 August, 2022
Senza-titolo-1
The Supermart by ZALORA x adidas opens at Bugis Junction
6 August, 2022
Senza-titolo-1
Brands are getting creative with being real
2 August, 2022

Leave A Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search News:

News category:

News Archive:

Last News:

Walmart Has a New Idea to Take on Amazon
10Aug2022
The Supermart by ZALORA x adidas opens at Bugis Junction
06Aug2022
Brands are getting creative with being real
02Aug2022
Mango Teen opens new store in Barcelona
27Jul2022
Crypto project Solana is opening a store in NYC. Take a look inside
27Jul2022

Twitter:

GRA_World Follow

An association made up and dedicated to the retail industry world's leading companies. Become a member today!

Gra_World
Retweet on Twitter GRA_World Retweeted
meshaalbomairh Meshaal Bin Omairh @meshaalbomairh ·
19 May

Very happy to announce that I am now a member of the GRA, one of the world’s most important associations for #retail industry leaders.
يسعدني جدًا أن أعلن أنني أصبحت عضوًا في GRA ، وهي واحدة من أهم الجمعيات في العالم لقادة صناعة البيع بالتجزئة: https://twitter.com/Gra_World/status/1526975525411033089

gra_world GRA_World @gra_world ·
20 May

🚀Los invitamos al próximo #webinar #GRA donde un panel de líderes de #Latinoamerica van a compartir tendencias, experiencia y el futuro de #Marketplaces✍🏻: https://bit.ly/3yNggfI

Load More...

© 2022 Global Retail Alliance | info@gra.world | Privacy Policy