OpenStore, the open source e-commerce aggregator platform, has thrived in the market having acquired dozens of 3rd-party e-commerce businesses representing tens of millions in revenue. In a round sponsored by Lux Capital, OpenStore recently raised $32 million, giving it a $970 million valuation. The long-term objective of OpenStore is to “bring the experience of spontaneous discovery back online” through a new method of shopping that unites retailers and consumers through a single buying journey fueled by data, information, and resources.” Also worthy of note, it’s headed by yet another member of the ‘PayPal Mafia’, Keith Rabois, which explains why Peter Thiel’s Founders Fund is also a major investor.
OpenStore Bags New Funding As Valuation Soars To $970M
