OpenStore Buys E-commerce Businesses
Share
A story about Keith Rabois' new startup OpenStore, which applies the OpenDoor instant-buying model to businesses.
"Keith Rabois, who was ex-PayPal and COO of Square, is starting a new company called OpenStore. I heard about it about 6 weeks ago through someone whose friend interviewed at the company.
OpenStore is essentially OpenDoor but for buying businesses. The premise is similar to what OpenDoor did with houses - instead of a time-consuming, stressful process with uncertain pricing, they give you an instant offer to buy your business.
The current marketplaces for buying and selling businesses online are very old school. OpenStore is taking this concept but modernizing it. While they haven't released many details, I think it's going to be specialized in online businesses, where you just show them your business and they give you an offer to buy it right away.
It's part of a larger pattern I'm seeing of bringing instant liquidity to traditionally illiquid assets. OpenDoor did it with houses, now OpenStore is doing it with businesses. The key innovation isn't that it's a new idea - it's that they're trying to do this at scale using modern internet marketing models."
Shaan Puri
Host of MFM
Shaan Puri is the Chairman and Co-Founder of The Milk Road. He previously worked at Twitch as a Senior Director of Product, Mobile Gaming, and Emerging Markets. He also attended Duke University.