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Illustration: Rebecca Zisser/Axios

Venture capitalists Keith Rabois has teamed up with Atomic's Jack Abraham as founders of OpenStore, a stealthy company that plans to acquire a number of small e-commerce businesses, Axios has learned.

Why it matters: The last startup Rabois formed was Opendoor, a home buying and selling platform that was initially ridiculed by some top real estate industry execs. Then companies like Zillow copied the model and Opendoor eventually went public via SPAC, with a current market cap north of $15 billion.

Details: OpenStore will be based in Miami, where Rabois loudly relocated to last year from Silicon Valley, and already has hired around a half dozen employees.

  • It's being launched in partnership with venture studio Atomic, whose founder Jack Abraham is another recent Miami transplant.
  • Expect initial funding to come from both Atomic and Founders Fund, where Rabois is a general partner.

Shopping spree: OpenStore is part of a broader consolidation trend in e-commerce, as evidenced by a recent spate of Amazon seller rollups.

  • A source describe the company as "Opendoor for e-commerce businesses." But that appears to be something of a misnomer, as we hear that OpenStore doesn't plan to flip the companies it buys.
  • We are hearing consistently that it won't be just a carbon copy of other e-commerce consolidation plays, which effectively means more info to come.

Atomic and Founders Fund declined comment.

The bottom line: Rabois doesn't lack for ambition or bravado, and just upended the staid residential real estate market. So all eyes should be on what he does with digital retail.

Go deeper

EA Sports is in expansion mode

EA Sports general manager Daryl Holt (left). Photo illustration: Annelise Capossela/Axios. Photos: EA Sports

The biggest player in sports video games has plans to get even bigger — on mobile, in football, maybe even with basketball again — EA Sports general manager Daryl Holt said in an exclusive interview with Axios.

Why it matters: Sports gaming doesn’t get much press, but it’s a surging market with increased competition and lots of players up for grabs.

Heat wave grips U.S. this week from coast to coast

Computer model projection from the GFS model showing an unusually hot airmass across the western and Central U.S. on Thursday, June 29, 2021. (Weatherbell.com)

A widespread heat wave has begun across the contiguous U.S., with at least 30 million people likely to see temperatures reach or exceed 100°F by the end of the week.

Why it matters: The hot weather, which comes courtesy of another heat dome building across the Southwest, Rockies and then sliding into the western Plains, will only aggravate drought conditions and worsen many of the western wildfires.

VA first federal agency to require COVID vaccines for employees

A medical doctor gives the thumbs-up sign to a COVID-19 patient who is no longer using a respirator at the Veterans Affairs Medical Center in New York City. Photo: Robert Nickelsberg/Getty Images

The Department of Veterans Affairs said Monday it would require its frontline health care workers to get vaccinated against the coronavirus within the next two months, the New York Times reports.

Why it matters: The VA is the first federal agency to mandate that employees receive the vaccine. The decision comes as cases of the Delta variant in the U.S. have increased dramatically.