WHAT'S NEXT: Learn how Trenton Riggs, President of OpenStore, successfully operates the largest number of businesses on Shopify in the world.
⁉️ WHAT IS OPENSTORE?
At OpenStore, we operate the largest number of businesses on Shopify in the world, with a portfolio of over 40 brands across different categories. More broadly, we’re rethinking how we can enable serendipitous product discovery for shoppers and improve the e-commerce experience for entrepreneurs.
💲 ARE YOU FUNDED?
Yes, we're funded. $150M+
🤩 WHO DO YOU SERVE?
OpenStore serves both business owners building on Shopify who want liquidity, and consumers looking to discover unique products.
🌟 WHAT'S STANDOUT ABOUT OPENSTORE?
We’ve cracked the code on running and scaling businesses on Shopify, thanks to our team of e-commerce experts and a full suite of tech and tools that we built to optimize and automate everything from marketing, supply chain, and customer support. One example is our app gumdrop, which automates influencer marketing and UGC for our brands.
⏭️ WHAT'S NEXT AT OPENSTORE?
We found that only ~0.1% of businesses built on Shopify make more than $10M in revenue. Our popular men’s apparel brand, Jack Archer, hit this milestone in just nine months thanks to our team, economies of scale, and the technology we built to power our portfolio.
We’ve built 20+ tools and services to run our brands, gather insights, and automate some of the mundane elements of running a DTC business. There may be an opportunity in the future to make some of the tools we use to power our brands available to other businesses.
We’re also gearing up to launch our consumer shopping app, bringing the joy of product discovery to online shopping.
📈 WHAT'S NEXT IN YOUR NICHE?
We do not doubt that e-commerce will be increasingly tech-driven. At OpenStore, we’re fundamentally a tech company – half of our team is composed of engineers and data scientists. We’ve been developing tools to more effectively support brands’ growth. The cost of attracting new customers has soared, and technology is the answer to acquiring and retaining them.
A new crop of AI tools has been introduced for building websites, landing pages, and generating marketing content, but we see a real opportunity in user and customer experience. Smaller e-commerce brands have historically not had access to an elegant user experience or a 24/7 customer support team. AI enhances these features and readies businesses to compete better with retailers already investing in these capabilities.
❤️ WHO SHOULD I INTERVIEW NEXT?
Theo Satloff, founder of Remark – gives every online shopper an expert to guide their buying decisions.
Matt Smolin, founder of Hang – changing loyalty for retail and e-commerce brands.