Insider reports that Amazon's Project Santos is working on the point-of-sale (POS) solution to compete with the likes of industry giants.
Project Santos is a dedicated (once-secret) taskforce launched by Amazon last year with the aim of brainstorming innovations to compete against Canadian giant, Shopify.
Amazon Is Working on a POS System to Take on Shopify, Square, PayPal
One of the team's earliest initiatives was to build a new type of point-of-sale system that could be sold to third-party sellers, Insider has learned.
"This will allow our small business (SMB) customers to unify their online and offline channel management including inventory, offer Amazon One for contactless recognition and payment, and offer a customizable loyalty program that can utilize Prime benefits," the document said.
Celtic House, Shopify's Lütke among bevy of big backers for Canvaspop founder's new
Correction: The OBJ Today newsletter incorrectly stated which company received funding - the company is Creative Layer.
The co-founder of an Ottawa firm that turns customers' photographs into customized artwork has landed millions of dollars in seed funding for a new startup that's aiming to help Shopify merchants branch out into the growing personalized products space.
Shopify (SHOP) falls 1.33% on Moderate Volume September 10 | Equities News
Today, Shopify Inc - Class A Inc’s (NYSE: SHOP) stock fell $19.98, accounting for a 1.33% decrease. Shopify opened at $1515.00 before trading between $1519.09 and $1479.50 throughout Friday’s session.
About Shopify Inc - Class A Shopify is a leading global commerce company, providing trusted tools to start, grow, market, and manage a retail business of any size.
Where Will Shopify (TSX:SHOP) Be in 5 Years?
The projections regarding e-commerce growth in the next five years are quite varied. One estimate puts the global e-commerce sales compound annual growth rate (CAGR) between 2021 and 2025 at 6.2% (varies a lot from country to country).
The core similarity between the two is "sizeable" growth, which means that the e-commerce market is not as close to reaching its saturation point as you might think.
3 Growth Stocks That Could Outperform Shopify
On its first day of trading, Nuvei already made history when it closed the largest tech IPO in Canadian history. That means that the payments company managed to raise more capital on its opening day than popular stocks like Shopify.
Although it now operates as its own entity, Constellation still plays a vital role in Topicus's day-to-day business. Six members of Topicus's board of directors are executives from the former parent company, including Constellation's president Mark Leonard.
3 Top Tech Stocks That Could Beat Shopify (TSX:SHOP)
With that said, Shopify's best returns are likely behind it. If SHOP were to continue rising at the rate it has been (about 110% per year), it would hit a trillion-dollar market cap in just two-and-a-half years.
Maybe 20% per year for another decade is a realistic goal for Shopify shareholders. But doubling every year? That probably won't be happening anymore. Still, that doesn't mean investors can't find those kinds of returns at all.
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