Tobias Lutke, founder and chief executive officer of Shopify Inc., speaks during the Power of Data: ... [+] Sooner Than You Think global technology conference in the Brooklyn borough of New York, U.S., on Wednesday, Oct. 30, 2019. The event convenes leaders on the front lines taking action to move the technology industry forward. Photographer: Cate Dingley/Bloomberg
The unfolding economic crisis has hit especially small and medium-size businesses hard. With lockdowns in effect all over the world, many companies were forced to turn to online, hoping to restore revenues and keep their business afloat. E-commerce penetration in the U.S. took a steep increase from 16% at the end of 2019 to 27% at the end of April.
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Shopify stock has skyrocketed 4,600% since the e-commerce giant went public 5 years ago | Markets
Shopify 's stock price has soared almost 4,600% since the e-commerce group went public five years ago.
The company, which recently partnered with Facebook to help businesses create virtual storefronts on the social network, priced its shares at $17 at the time of its IPO on May 21, 2015. They've surged by almost 46 times to trade at $797 today.
"Pretty amazing," Box CEO Aaron Levie commented on a Techmeme tweet highlighting the increase. "The valley mostly talks about chasing exclusive funding rounds, and yet anyone could get a 45X return by investing in Shopify."
Shopify COO on how e-commerce is changing retail trends during the pandemic
Shopify Opens Fulfillment Network to All Merchants, Launches Pay Later – Sourcing Journal
At its virtual Reunite conference, Shopify unveiled various solutions catered to businesses impacted by the coronavirus pandemic, including new local delivery offerings, a new finance management platform and merchant debit card, an installment payments option, and increased access to its Shopify Fulfillment Network. Up until Reunite, the e-commerce giant had kept its Shopify Fulfillment Network…
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New Software ahoy! Helps Shopify Businesses Make More Money
“We’re excited to set sail in our partnership with Shopify," said Dan Waltzer, ahoy!'s CEO. "After extensive vetting, we have concluded that Shopify’s data practices are appropriate for delivering the best merchant experiences possible and in line with security and privacy best practices. Tools like Shopify and ahoy! exist to help small businesses win.”
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Shopify rival Ecwid raises $42 million amid ecommerce boom | VentureBeat
Ecwid , a Shopify-style href="https://directamp.com/" title="">ecommerce platform, has raised a $42 million round after seeing "dramatic growth" during the COVID-19 crisis.
San Diego, California-based Ecwid is a software-as-a-service platform that lets anyone set up their own online store and includes tools for creating websites, managing orders and inventory, and accepting payments. It also offers a white label version , allowing third-party agencies, site builders, hosts, and point-of-sale platforms to bundle ecommerce stores into their respective services without having to build the technology themselves.
Shopify (Video): Understanding Its Drivers (NYSE:SHOP) | Seeking Alpha
Shopify ( SHOP ) played its cards masterfully. Shopify is valued at a premium for the illusion that its platform is sticky and predictable. But its business model is less sticky than it first appears.
To argue that Shopify is overvalued meets readers with glazed eyes and frustration, and suggestions that yet another analyst here "just doesn't get it." So, don't be a reader. Be a viewer:
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