I don't understand all the pouring accolades for @shopify. Seems like it's small e-commerce business owners favorite because it's 'built for e-commerce'. I tried using their platform and thought it was okay. There are tons of other small companies doing something similar like gumroad or squarespace, and thought they were much better in terms of functionalities and design. What's the secret sauce I'm missing here?
Because they’re better than their competition and have a superior set of offerings overall. Your mom and pop store can launch a store that integrates instantly with first class apps from their AppStore. You can do payroll, POS, fulfillment, marketing and analytics very quickly. You can have a fully functional business site in about a day and marketing campaign setup. The onboarding and their guides are amazing. Also their 24/7 merchant support is super useful. On the other side, you have Shopify Plus, where brands like Nike delegate their entire e-commerce strategy to. Take a look at the scale they were operating at this last Black Friday and where they are now. Their platform scales effortlessly. Mix that in with really sound partnerships and you have yourself a rocket ship.
Hey thank you so much for your response! That makes a lot of sense, but at the same time, isn't that the same for other merchant platforms like etsy? Sorry if it's a dumb question. If there's an article I should read, i'd appreciate that too!
Fun fact amazon used to have something like Shopify plus where we ran target’s e-commerce for awhile but they cancelled it because they could do it in house cheaper. I could see this happening to Shopify if they start raising prices after they lock in vendors
I mean - they ain't no BigCommerce though
I tried Shopify, Magento and BigCommerce and felt BG was by far the better option.
You’re right, their market cap is what... 100x more?
Overrated
Why is Zoom worth 73$B?
I would assume it has to do with all the “E-commerce Entrepreneurs” on YouTube selling a courses on how to dropship Ali express products on Shopify.
Because there are tons of ppl think they could make great sales but don't have money or patience to invest their own website.
It's easy to use for non technical folks. End of story.
Massive yoy growth. Huge market share and over 135 billion in sales through then last year.
Tech Industry
4h
325
Which brokerage account is the best?
World Conflicts
Yesterday
365
Israel prevents Palestinians from gathering rainwater? Seems wrong on so many levels to me
Tech Industry
Yesterday
949
Iran’s President confirmed dead
Tech Industry
6h
1008
Indians men and Asian girls
Tech Industry
Yesterday
1453
15 years age difference, need advice! 🙏
Their growth rate is absolutely insane. Between end of Q1 2019 and end of Q1 2020, their revenue increased 47%. They lost $48 million on $470 million in revenue in Q1 of 2020. As long as they can sustain their growth, they'll become massively profitable soon.
Assuming their costs don’t increase in line which they have been unable to show so far
Also they’re already priced for $2 billion in quarterly PROFITS as a peak once they stop growing. Whether they’ll be able to do that or it’s a huge bubble remains to be seen.