Shopify Inc. (E-commerce Company)
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Company Basic Insights - Shopify E-commerce Platform
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Founder(s)
- Tobias Lütke
- Scott Lake
- Daniel Weinand
CEO (Chief Executive Officer)
- Tobias Lütke
Launch Date
- 2006
Shopify Country of Origin / Headquarters
- Canada
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.
Stock
- NYSE: SHOP
Mantra/Slogan
- 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)
Website URL
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.
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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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This document is generated by AI software and can be useful for a variety of purposes, such as:
- Retail Experts
- Journalists looking to write a piece on a company, or have an interview with its CEO, manager, or another employee.
- VCs & Angel Investors can use this insight to hunt new ventures and potential startups to fund them, also they can use it for due diligence process
- Podcast Hosts get to know their next guest, or find out who to invite from a company, or even know a company better before they comment on it.
- Sales Specialists use this analysis to know their target company or future client, and contact them wisely. Also it’s important to know who is a better prospect to contact with inside the organization.
- Legal Specialists
- Startup Founders who like platforms and 2-sided marketplaces
- Insurance Companies
- Business Bloggers
- Reporters
- Digital Marketing Specialists
- Public Market Investors
- Online Magazines
- Any person or company that needs insight on another company and/or its employees, managers, c-level staff, etc.
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