Accounting Manager, OpenStore
Shopify business acquisition company
Job no longer available
Shopify business acquisition company
101-200 employees
Job no longer available
101-200 employees
Company mission
To provide life-changing liquidity to ecommerce entrepreneurs.
Role
Who you are
- The ideal candidate is detail-oriented, organized, and ambitious, with the ability to work effectively both independently and as part of a team
- Bachelor’s degree or higher in Accounting or Finance
- In-depth knowledge of U.S. GAAP
- 7+ years of relevant accounting experience, with a preference for a mix of public and private sector experience
- Active CPA or CPA-eligible status is highly preferred
- Strong ability to communicate clear and concise ideas both verbally and in writing across various levels of the organization
- Superior problem-solving skills and a proactive self-starter who thrives in a fast-paced environment, capable of managing competing priorities and deadlines
- Ability to identify problems, gather data, draw valid conclusions, and effectively present information to managers, peers, and customers
- Interest in building and refining processes while contributing to a scaling business operation
- Tech-savvy with advanced MS Excel skills; comfortable working with and analyzing large datasets, and adept at creating end-to-end automation of business processes
- Experience in consumer goods and/or e-commerce is preferred
- Familiarity with various systems, including but not limited to NetSuite, Bill.com, and Shopify
- Experience supervising staff and senior team members
- Experience in a high-growth organization; international experience is a plus
What the job involves
- OpenStore is seeking an experienced, diligent, and strategic Accounting Manager to oversee our day-to-day financial operations and support the business in achieving its mission
- In this role, you will manage everything from routine accounting tasks to developing new processes and workflows as our organization scales
- You will also take ownership of month-end close activities, support financial audits, and engage in various other initiatives
- This position reports to the Controller and involves regular interaction with all departments
- Own the preparation of month-end close processes for assigned areas, including Treasury, Inventory and reserves, ensuring accurate and timely reporting
- Oversee and review a range of accounting areas managed by your direct reports, such as leases, fixed assets, and expense accruals, among others
- Set the direction, priorities, and workload for your team, often supervising multiple projects simultaneously
- Assist in the design and testing processes leading to the implementation and enhancement of our ERP system (NetSuite), as well as the automation of new brand integrations, financial close, and accelerated reporting
- Participate in strategic company projects and initiatives, applying critical thinking skills to deliver solutions that enhance company performance
- Prepare analytics and business reporting packages on financial results monthly, reporting variances compared to prior periods to effectively communicate results to upper management and internal stakeholders
- Assist in researching, documenting, and implementing new accounting policies and procedures, serving as a technical resource for various stakeholders
- Review accounting transactions to ensure they are accurately reflected in financial statements and comply with GAAP
- Manage external auditors during annual audits and quarterly review processes
Our take
Founded in spring 2021, OpenStore helps entrepreneurs looking to sell their Shopify businesses. The platform buys businesses directly, making automated bid offers within 24 hours of a company submitting their details, and closing the deal in as little as 1 week with no transaction fees.
This is an improvement on legacy brokerage services, which typically take a hefty cut and can make for slow sales. It is likely to prove appealing to the 80% of small Shopify sellers reportedly amenable to acquisition. With the hefty investment they raised within months of being founded, which nearly tripled by winter, they are swiftly onboarding talent to scale up and refine their model.
It’s a model that sees OpenStore follow in the footsteps of other holding companies like Thrasio, who provide a similar service for Amazon brands and have enjoyed significant success. The concern here is whether or not OpenStore can hold its own against rivals turning their hands to the Shopify space, especially as this business model has been adopted by many new players like Pattern Brands and Perch. That being said, OpenStore appears to be keeping its head above the water, having closed a funding round of $32 million led by Lux Capital in September 2022.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
Company
Funding (last 2 of 3 rounds)
Sep 2022
$32m
LATE VC
Nov 2021
$75m
SERIES B
Total funding: $137m
Company HQ
Wynwood Art District, Miami, FL
Articles
Leadership
Matt Lanter
(Head of Product)Matt has previoudly been Chief of Staff at Founders Fund to Keith Rabois. Before this, they served as Engineering Manager at OpenDoor, and Technical Lead at Facebook.
Jeremy Wood
(Head of Engineering)Previously worked in Engineering at One Kings Lane and Google.
Michael Rubenstein
(President)Previously Founder & General Manager of DoubleClick Ad Exchange (which later became part of Google). Since then, has been on Board of Directors at IAB and President & Board of Directors at AppNexus (later rebranded as Xandr).
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