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OpenStore Raises $75M to Acquire More Shopify Sellers

forbes.com

21–30 of 48 posts

Re: OpenStore Raises $75M to Acquire More Shopify Sellers

#21
post #8
post #7

Earlier quoted context omitted.

I guess, by nature of being online, their stores are always open? But really it's more likely to be a cynical use of an arbitrary word with positive associations (and a use that itself dilutes those positive associations).

>But really it's more likely to be a cynical use of an arbitrary word with positive associations (and a use that itself dilutes those positive associations). sounds like OpenAI?

That use is less arbitrary, and perhaps more cynical.

Re: OpenStore Raises $75M to Acquire More Shopify Sellers

#23

Wait, so they buy Shopify sellers, and move them off Shopify onto their own platform? Do I understand this right? Or do they leave them on shopify? What an odd business model. To focus only on businesses using the shopify platform. I wonder how Shopify views this?

They are probably focusing on shopify because they need to automatically ingest financial metrics for the valuation. Shopify has the transaction data so they can automatically value any company on the platform. They are probably starting with shopify since its the biggest ecommerce platfor.

Re: OpenStore Raises $75M to Acquire More Shopify Sellers

#24

Wait, so they buy Shopify sellers, and move them off Shopify onto their own platform? Do I understand this right? Or do they leave them on shopify? What an odd business model. To focus only on businesses using the shopify platform. I wonder how Shopify views this?

I'd imagine that targeting Shopify makes the process much easier for evaluation and migration.

Re: OpenStore Raises $75M to Acquire More Shopify Sellers

#26
post #5
post #3

Earlier quoted context omitted.

wait, there are custom embroidered naruto vest stores? link?

I'll do you one better. Here's one for dogs: https://hachicorp.myshopify.com/products/kakashi-vest-dog-co... (Come on, Keith Rabois. Buy this company!)

hachicorp? where have I heard that? lol

Re: OpenStore Raises $75M to Acquire More Shopify Sellers

#27
post #18

Seriously this sounds like a isht business. End result is squeezing all the merchants into one giant crappy company - all profit rolls up to OpenStore. This also kills off any creators willingness to bring newer products to the market on a continual basis as they no longer own the store. I guess alternatively what you end up is with a bunch of people who make stores quickly off a new product and sell to OpenStore, ri…

[deleted]

Re: OpenStore Raises $75M to Acquire More Shopify Sellers

#30

Wait, so they buy Shopify sellers, and move them off Shopify onto their own platform? Do I understand this right? Or do they leave them on shopify? What an odd business model. To focus only on businesses using the shopify platform. I wonder how Shopify views this?

Most of these target Amazon sellers, but they also roll up other independent stores. The thesis in this case that Shopify store operators are analogous to Amazon store operators, so they can use the same roll-up model on Shopify people, which isn't actually the case for many important reasons.
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