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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