Shopify Inc. (NYSE:SHOP)(TSX:SHOP) ("Shopify") today announced the pricing of its previously announced public offering of 1,180,000 Class A subordinate voting shares (the "Offered Shares") at a price to the public of US$1,315 per share (the "Offering"). The gross proceeds from the Offering, before underwriting discounts and offering costs, are expected to be US$1,551,700,000.
Shopify has granted the Underwriters (as defined below) an over-allotment option to purchase up to an additional 177,000 Class A subordinate voting shares to be sold pursuant to the Offering (the "Over-Allotment Option"). The Over-Allotment Option is exercisable for a period of 30 days from the date of the final prospectus supplement relating to the Offering.
In case you are keeping track:
Amazon's Acquisition of Selz Speaks Volumes for Shopify, BigCommerce | The Motley
It's a curious move for several reasons, chief of which is the fact that Amazon previously offered its own suite of tools called Webstore. That home-grown service was shuttered in 2016. The fact that it's now changing its mind with the purchase of an existing platform is telling, to say the least. It says there's something to the idea that vendors want more control of their sales process, rather than being part of a massive mix of competition at Amazon.com.
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At one point Amazon.com was the only way for many sellers to connect with enough online shoppers to achieve viability. Now, however, consumers and companies are both web-savvy and don't necessarily need an intermediary like Amazon. To this end, Digital Commerce 360 estimates that Amazon's 2020 share of e-commerce spending in the U.S. clocked in at a healthy 31.4%, though that's down from 2019's proportion of 43.8%.
Q4 2020 Tech Earnings: Shopify, Roku, Fiverr And Palantir
Shopify CEO Tobias Lutke, center wearing hat, is celebrated as he rings the New York Stock Exchange ... [+] opening bell, marking the Canadian company's IPO, Thursday, May 21, 2015. Shopify Inc. works with merchants who want to offer their own online checkout services, providing a platform for small- and mid-size businesses that sell products online. (AP Photo/Richard Drew)
Tech stocks have been selling off recently despite some healthy earnings reports. Below, we discuss key points in the earnings reports from leading e-commerce software company, Shopify, a company that is not sitting stagnant by any means. We review Shopify's product road map and how the company continually innovates to maintain its lead.
Shopify and TikTok Take Social Commerce Global
Shopify is expanding its social commerce partnership with video-sharing platform TikTok to an additional 14 countries in North America, Europe, the Middle East and Asia. The goal is to help sellers create in-feed shoppable ads targeting TikTok users around the world.
Other things to check out:
As Shopify Surges, So Are the Software Startups Riding Its Coattails — The Information
Shopify's stock has more than quadrupled since shoppers began flocking at the start of the pandemic to the online stores of the smaller merchants Shopify serves. And now investors are getting interested in business tool startups that piggyback on Shopify.
In the latest example, a small Estonian startup, Katana, has raised $11 million in Series A funding in a round led by Atomico, a London-based VC firm, an Atomico representative told The Information. Katana—which offers a service that lets direct-to-consumer brands and manufacturers monitor inventory levels and track products—provides one of the thousands of apps that plug into Shopify's e-commerce system, extending it with functions that Shopify itself doesn't offer.
Shopify Goes All In on Gaming, Starts Own Esports Organization – The Esports Observer
When you tell someone, a friend perhaps or an associate, that you are represented by Ford Models Inc., there is...
Former YOOZOO GAMES India CEO Anuj Tandon has left the Chinese-owned game developer to join PUBG and PUBG Mobile owner...
Amazon Stock: AMZN Steps Up Its Rivalry With Shopify | InvestorPlace
Amazon (NASDAQ: AMZN ) fired another bullet in what’s shaping up to be an absolute e-commerce battle with Shopify (NYSE: SHOP ). What’s still to be determined is how it will affect Amazon stock.
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Amazon quietly acquired Shopify competitor Selz, an Australian company that helps companies sell more of their products online. The sale was announced by Selz in a company blog post in January, but word really didn’t start trickling out until last week .
Stocks making the biggest moves premarket: Home Depot, Palo Alto Networks, Shopify, AMC
Home Depot (HD) – The home improvement retailer beat quarterly estimates by 3 cents with earnings of $2.65 per share. Revenue came in above estimates as well. Comparable store sales jumped 24.5% during the fourth quarter, more than the 19.2% consensus estimate of analysts polled by FactSet. Home Depot is not providing 2021 guidance, however, due to pandemic-related uncertaint. Shares fell 2.7% premarket.
Macy's (M) – The retailer reported an adjusted quarterly profit of 80 cents per share, well above the 12 cent consensus estimate, with revenue also coming in above Wall Street forecasts. Comparable store sales fell 17.1% on an owned + licensed basis, smaller than the 21.3% drop anticipated by analysts surveyed by Refinitiv. Macy's stock rose 2.2% in premarket action.
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