Shopify stock: About, what they Do, Stock Price, Founders, CEO, CFO, Revenue, Founded, President, what’s New, Updates And Everything To Know
Shopify is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. It was founded in 2006 by Tobias Lütke, Daniel Weinand, and Scott Lake. The company provides an all-in-one commerce platform for businesses to create, manage, and also grow their online and offline sales.
Shopify’s proprietary e-commerce platform serves online stores and also retail point-of-sale systems. As of 2023, Shopify hosts 4.6 million stores across 175 countries.
Stock Symbol:
SHOP
Current Stock Price:
$62.81 USD
Market Cap:
$98.46 billion (intraday)
52-Week Range:
$45.50 – $91.57
Sector:
Technology
Industry:
Software – Application
Shopify Inc. is a Canadian commerce company that provides a robust commerce platform and services. Here are some key points about Shopify:
- Commerce Platform: Shopify’s platform enables merchants to display, manage, market, and sell their products through various sales channels, also including web and mobile storefronts, physical retail locations, social media, native mobile apps, and marketplaces.
- Features:
- Product Management: Merchants can manage products and inventory efficiently.
- Order Processing: Shopify also helps process orders and payments.
- Customer Relationships: It assists in building customer relationships.
- Also Analytics and Reporting: Merchants can leverage analytics for insights.
- Cash Management: Shopify handles transactions and financing.
Merchant Solutions:
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- These include accepting payments, shipping, and also securing working capital.
History:
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- Shopify was formerly known as Jaded Pixel Technologies Inc. and changed its name to Shopify Inc. in November 2011.
- The company was incorporated in 2004 and is also headquartered in Ottawa, Canada.
What Does Shopify Do?:
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- Shopify provides a comprehensive commerce platform for merchants worldwide.
- Their platform allows businesses to:
- Display, manage, market, and sell products across various channels (web, mobile, social media, etc.).
- Handle inventory, process orders, and also manage payments.
- Build customer relationships and access financing.
- Leverage analytics and also reporting for data-driven decisions.
Founders:
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- Tobias Lütke, a computer programmer, co-founded Shopify after also building an e-commerce platform for his snowboard shop.
- Daniel Weinand and Scott Lake were also part of the founding team.
CEO:
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- Tobi Lütke is the co-founder and CEO of Shopify.
- He has also been instrumental in shaping the company’s growth and success.
- As of 2022, he was also the 11th richest Canadian.
CFO:
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- Jeff Hoffmeister, a former Morgan Stanley executive, has also been appointed as the Chief Financial Officer (CFO) of Shopify.
- He succeeded Amy Shapero, who stepped down following the company’s third-quarter 2022 earnings announcement.
Revenue:
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- In 2023, Shopify’s total revenue also reached $7.1 billion.
- The Gross Merchandise Volume (GMV) for the fourth quarter alone saw a 23% increase, amounting to $75.1 billion.
Investment Considerations:
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- Investors should assess factors like earnings, growth potential, and also market trends.
- Keep an eye on upcoming earnings reports and other relevant news.
Recent News:
- Shopify Magic: A suite of AI-enabled features integrated across the platform to make it easier for merchants to run their businesses.
- Sidekick: An AI-enabled commerce assistant that increases productivity and also improves workflows.
- Also AI Shopping Assistant: Created using OpenAI’s ChatGPT API, providing personalized shopping experiences for consumers.
- POS Go and POS Terminal: Enhanced mobile point-of-sale systems for merchants.
