What is Shopify?

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  • ℹ️ Published 2 years ago
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Shopify is the leading E-commerce platform in the United States with 23% market share, and has become the second largest platform in terms of total merchandise volume, surpassing Ebay in September 2019 and just behind Amazon--Amazon had $141 B of online store sales last year compared to 61 B of Shopify. But Shopify grew at 49% compared to Amazon's 15% . The company's stock is up more than 20 times its IPO price.

Run by Tobius Lutke, the company CEO, and Harley Finkelstein, the COO, Shopify continues to grow by offering a compelling reason to merchants and customers to use its platform. The company allows customers to create their own storefronts, manages payments, and shipping behind the scenes.

Shopify has, also, been getting into drop-shipping with Oberlo and fulfilment centers with 6 River Systems to improve its customer experience. It also uses artificial intelligent in its warehouses to manage inventory. Shopify sells its own chip and card readers as well, and is working hard to democratize commerce for everyone.

#Shopify #WhatIsShopify #TobiusLutke



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💬 Comments
Author

Hey guys, hope you enjoyed this in-depth Shopify video. Perhaps it helped shed some light on why Shopify has a sky high valuation, despite having relatively low revenue and no profits yet. Let us know what you think!
Also if you liked this video we have a whole bunch more you may also like:

Author — The Market is Open

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Never heard of Shopify, but going to look into it now! Appreciate all the research you put into these. The graphics aren't too shabby either

Author — Tom Trish

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If I only would have found this video a year ago, when the stock price was still reasonable. Or is it worth to get even at 1K+ USD?

Author — Midi Music Forever

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Great video! And a double like for some Canadian content

Author — Naomi

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I've never heard of Shopify but sounds like a cool company...

Author — Anna K.

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I see it that it will become Shopify vs Amazon.

Author — random stuff

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Great business. But too expensive to buy at the moment

Author — Investing Education

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They will continue optimize...cutting out the middleman, and start selling the products themselves

Author — A Z

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the road to next trillion cap may just be sooner ... come to asia lots of great artist and indie folks to sign up. great video and thank you.

Author — Roy Reyes

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Great stock love the channel keep it up I’ll keep watching what u think about Tesla exploding to 750 today feb 3 noon cray cray cray and love Shopify I Canadian by chance

Author — The Broke Broker

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I'm gonna pretend I got all that but uh ok they are synonymous with e-commerce. Got it.

Author — Tom

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Huh never heard of Shopify. I have
used Wix before to build a site years ago.

Author — Barnuner

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We have 10 apps on the Shopify app store!

Author — Siddharth R

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Hmmm, I may need to rethink my Amazon position. I didn't realize there was such a large competitor.

Author — phphph99 phphphp

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I didn't see this video in time. Its now over $1000.

Author — Habanero Pepper

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I feel special that I sub and you are under 100k subs

Author — Ohio Business Podcast