Shopify Inc. (E-commerce Company)
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Company Basic Insights - Shopify E-commerce Platform
- Tobias Lütke
- Scott Lake
- Daniel Weinand
CEO (Chief Executive Officer)
- Tobias Lütke
Shopify Country of Origin / Headquarters
Is Shopify publicly traded?
- Yes. On April 14, 2015, Shopify filed for an initial public offering (IPO) on the New York Stock Exchange and Toronto Stock Exchange under the symbols “SHOP” and “SH” respectively.
- Shopify went public on May 21, 2015, and in its debut on the New York Stock Exchange, started trading at $28, more than 60% higher than its US$17 offering price, with its IPO raising more than $131 million.
- NYSE: SHOP
- We want to arm the rebels. (meaning instead of building an empire like Amazon, they want to enable everyone to run his/her own online shop easily and without technical coding knowledge)
Shopify Black Friday Cyber Monday Data Stories
- Shopify BFCM Data Stories: Shopify has created a web page in which the data related to live transactions are shown on Black Friday and Cyber Monday. On 28 Nov. 2020 (Black Friday) there were more than $1,500,000 USD of order value each minute, which was the result of more than 15,000 sales throughout all the shops created using Shopify shopping engine.
What is Shopify? How does Shopify make money? (Shopify Business Model)
- Shopify Inc. is an e-commerce company. It lets you create an online shop in a matter of minutes, without having technical knowledge or coding skills. It is also the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems. Shopify offers online retailers a suite of services including payments, marketing, shipping and “customer engagement tools”.
- For larger enterprises, there is Shopify Plus, which has a much higher monthly subscription fee that eventually switches to a transaction revenue stream if revenues go beyond a certain threshold.
- Shopify is an e-commerce platform enabling merchants to commercialize their products via a monthly subscription fee, and additional services provided by the platform. Its core business is subscription-based, even though in 2018, the company made over 50% of its revenues from another stream called “merchant solutions”.
- Shopify merchant solutions primarily make money from payment processing fees from Shopify Payments, transaction fees, Shopify Shipping, Shopify Capital, referral fees from partners, and sales of point-of-sale (“POS”) hardware. As pointed out on its financial statements Shopify Payments is a fully integrated payment processing service that allows merchants to accept and process payment cards online and offline and is also designed to drive higher retention among merchant subscribers.
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Use Cases for Shopify Business Research
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