advertisement

E-Commerce Platform Shopify Sees 100% Growth

E-Commerce Platform Shopify Sees 100% Growth

2016-02-17 16:24

Shopify added a record number of new merchants in the fourth quarter and everything else is also looking good for the company.

The global e-commerce platform, Shopify, with its home base in Canada had a stellar fourth quarter. Revenue was up 99% and gross merchandise volume increased 109%.

Shopify now says that they have over 243,000 merchants using their platform, mostly small and medium-sized businesses, and they sold a lot during the last quarter of 2015.

- Over the holiday season our merchants collectively sold almost 3 billion dollars worth of products, a huge increase from the year before. We are also seeing our merchants use Shopify to sell on multiple new sales channels like mobile and social, said Tobi Lütke, founder and CEO of Shopify.

For the full year the total revenue was $205 million, a 95% increase from 2014. Revenue from subscriptions increased 68% while revenue from "merchant solutions" grew 143%.

advertisement
advertisement

Selling on Social Is Increasing

Shopify was among the first e-commerce providers to add the ability to sell over social media platforms like Facebook, Pinterest and Twitter. This is still said to be a small portion of transactions but 25% of Shopify merchants have enabled social media selling.

- Many of our efforts in 2015, such as adding multiple new sales channels to a single integrated back office, were driven by our simple goal of helping merchants become more successful, said Russ Jones, Shopify's CFO.

The outlook for 2016 is a revenue of $320-330 million, for the full year, and Tobi Lütke believes this is just the beginning.

- We believe that multichannel, cloud commerce is an industry-wide shift that is still in its infancy, said Tobi Lütke.

Julius Gunnilstam

Editor-in-chief

Born computer engineer - today e-commerce expert and the leader of the editorial team at Ecomony. Been writing about e-commerce for six years.

advertisement
Swedish Government to Outlaw Online Alcohol

Swedish Government to Outlaw Online Alcohol

Sweden is trying to restrict the free movement of goods within the EU.

Amazon.de Launches Free Delivery for 6 New Countries

Amazon.de Launches Free Delivery for 6 New Countries

Germany is looking to be the base for the company to take on Europe as free delivery expands to the Czech Republic, Denmark, Sweden, Finland, Hungary and Slovakia.

advertisement
advertisement
Alibaba Invests $1 Billion in Lazada

Alibaba Invests $1 Billion in Lazada

Alibaba now controls Rocket Internet's Amazon-clone in Southeast Asia.

Volvo Looking to Expand In-Car Deliveries

Exclusive: Volvo Looking to Expand In-Car Deliveries

The trunk deliveries of tomorrow are already here and now they are expanding in Europe.

advertisement
advertisement

Don't miss out on our weekly newsletter

Best Buy Expands Same-Day Delivery in 11 More Markets

Best Buy Expands Same-Day Delivery in 11 More Markets

The retail chain now offers the service in 13 US metropolitan areas covering 70% of the US population.

USA

"Virtual Reality Will Be an Integrated Part of Our Lives"

The Swedish furniture-retail giant Ikea wants its customers to furnish their homes before hitting the buy button.

Big Expansion of Amazon's Free Same-Day Service

Big Expansion of Amazon's Free Same-Day Service

Amazon's free same-day delivery service for its Prime members just expanded to 11 more metro areas.

advertisement
advertisement
The Unstaffed Store Expands to New Location

Exclusive: The Unstaffed Store Expands to New Location

The world's first unstaffed store has received attention worldwide and now another Swedish village seems to be in line for the so far unique concept.

advertisement
Swedish Unstaffed Store Sees Global Recognition

Swedish Unstaffed Store Sees Global Recognition

We have talked to the founder of Sweden's first unstaffed digital convenience store about his future e-commerce plans.

advertisement
advertisement
H&M Has Launched Online Shops for Seven New Markets

H&M Has Launched Online Shops for Seven New Markets

The Swedish fashion retailer is expanding its global online reach with dedicated websites in Croatia, Estonia, Latvia, Lithuania, Slovenia, Luxembourg and Ireland.

Insight: Does Size Really Matter?

Christoph Luetke Schelhowe, VP of Customer Experience at Zalando, reiterates the importance of the customer experience in the wake of Apple's newest mobile devices.

Now Everyone Can Record 60-Second Videos on Instagram

Not a minute too soon Instagram makes it possible for all users to post up to 60 seconds of video, not just advertisers.

advertisement
advertisement
EasySize Goes API and Puts Retailers in Control of Returns

EasySize Goes API and Puts Retailers in Control of Returns

Gulnaz Khusainova, CEO of EasySize, wants to make it easier for customers to shop online and easier for e-retailers to handle customers with a history of many returns.

About Ecomony.com

We are an independent news outlet reporting the latest news from the e-commerce economy.

Contact information

info@ecomony.com

Advertising inquiries

advertising@ecomony.com

Company details

EHANDEL SE AB
Organization number 556861-7517
EU Vat no SE556861751701