Episode: #126 - KEITH RABOIS 2
Pub date: 2023-04-04
Keith is the CEO & Co-Founder of OpenStore and a General Partner at Founders Fund. He is an experienced technology executive and entrepreneur, a prolific investor, and a self-described contrarian. Keith previously served as a General Partner at Khosla Ventures. Before that, he was COO at Square and served in influential roles at LinkedIn. He also co-founded Opendoor. Keith began his career in technology as a senior executive at PayPal. He has since invested early in many great companies including YouTube, Airbnb, Palantir, DoorDash, Stripe, Quora, Yammer, Affirm, Eventbrite, and many others. He also served as a Board Member from inception to IPO at Yelp and Xoom. Follow Keith on Twitter @rabois.
[0:00] - OpenStore's early momentum and fundraising strategy
[5:35] - How an decentralized department store could unlock eCommerce growth
[12:33] - Introducing OpenStore Drive and why it is great for Shopify store owners
[16:49] - OpenStore's horizontal approach and why Keith believes it is best
[18:41] - OpenStore’s business acquisition strategy and thoughtful process design
[24:09] - How learnings from OpenStore’s initial acquisitions have led to improvements
[28:56] - Why OpenStore’s business is resilient in various macroeconomic environments
[35:06] - Acquisition offers and accept rates as metrics and countermetrics at OpenStore
[38:45] - Introducing Gumdrop which matches long-tail influencers to long-tail SKUs
[41:40] - The advantages of aggregation that benefit OpenStore’s business model
[45:19] - Building a great company culture; finding & developing undiscovered talent
[51:11] - The most high-leverage activities Keith allocates time to as OpenStore's CEO
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