Senior Accountant, OpenStore
Shopify business acquisition company
Open for applications
Shopify business acquisition company
101-200 employees
Open for applications
101-200 employees
Company mission
To provide life-changing liquidity to ecommerce entrepreneurs.
Role
Who you are
- You are curious. You want to understand the application of your work and learn how to build a high growth company
- You communicate and collaborate effectively. You know how to deliver the right message to the relevant audience at the appropriate level of detail
- Ou co-create solutions that are better than the sum of individuals’ ideas
- You embrace intellectual friction as a feature of improvement, not a relationship bug
- You take ownership. You are comfortable driving projects end-to-end that execute and eliminate blockers, helping you and the company move fast with confidence. You know when to raise your hand and ask for help
- You are collaborative, organized, and thoughtful
- Ou actively solicit teammate’s feedback and can get things done through informal influence
- You demonstrate judicious decision-making and embrace intellectual friction as a feature of improvement, not a relationship bug
- 3+ years of relevant accounting experience; a mix of public and industry experience is a plus
- Bachelor of Accounting or similar, CPA Preferred
- Experience with Inventory Management and/or Supply Chain Management industry preferred
- Organized and able to efficiently prioritize, multi-task, and adapt in a fast-paced, often ambiguous environment; ability to meet deadlines
- Strong technical accounting knowledge with an understanding of US GAAP and ability to document accounting conclusions
- Ability to work under pressure and perform several tasks concurrently in a deadline driven environment
- Excellent critical thinking and problem-solving skills, and superior attention to detail
- Excellent verbal and written communication skills with the ability to interact at all levels of the organization
- Exceptional analytical skills, including Excel
- A proactive, self-directed approach with the ability to multi-task, think creatively, and learn quickly in a fast-paced environment
- Able to work independently as well as collaboratively with a team
- Familiarity with monthly close procedures including generating journal entries and preparing balance sheet reconciliations and variance analyses
- Prior experience with NetSuite, Bill.com, and/or Ramp is a plus
What the job involves
- OpenStore is looking for a highly motivated and energetic Senior Accountant to join our established Accounting and Finance team
- The candidate is responsible for maintaining timely, accurate financial records, performing other day-to-day activities and inventory/supply chain projects on the accounting team
- The position will assume ownership of a wide range of account reconciliations, financial closing activities, and other projects to support our financial close process
- The candidate for the Senior Accountant position must have an advanced understanding of financial statements (balance sheet, income statement, and cash flow) and how they relate to one another
- Candidates must also have working knowledge of US GAAP and internal controls
- Own the preparation of month-end close processes in relation to inventory management ensuring accurate and timely reporting
- Work cross functionally with various departments to manage expenses and improve processes
- Serve as a key player during the monthly close process to ensure accurate and transparent representation of financial results
- Analyze monthly/quarterly/annual financial results and prepare variance analyses
- Support ad-hoc accounting projects including the creation of new processes and implementation of new systems as the organization continues to evolve and grow
- Responsible for monthly financial closing activities, procedures, journal entries and account reconciliations
- Assist with the design and test work leading up to the implementation and enhancements of our new ERP system (NetSuite) and automation of new brand integrations, close, and accelerated reporting
- Provide support to external auditors on the annual financial audit, including preparing schedules and responding to audit inquiries
- Help implement internal controls through policies and procedures
- Create best practice procedures for accounting activities and recommend process improvements where they already exist
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
494% employee growth in 12 months
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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