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Hello Guys in this video I am explaining what is shopify and how shopify have emerged as one of the big in ecommerce industry .
Shopify Inc. is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario.Shopify offers online retailers a suite of services “including payments, marketing, shipping and customer engagement tools to simplify the process of running an online store for small merchants.”
The company reported that it had more than 1,000,000 businesses in approximately 175 countries using its platform as of June 2019. The total gross merchandise volume exceeded US$61 billion for calendar 2019
Shopify was founded in 2004 by Tobias Lütke, Daniel Weinand, and Scott Lake after attempting to open Snowdevil, an online store for snowboarding equipment. Dissatisfied with the existing e-commerce products on the market, Lütke, a computer programmer by trade, instead built his own. Lütke used the open source web application framework Ruby on Rails to build Snowdevil’s online store, and launched it after two months of development.The Snowdevil founders launched the platform as Shopify in June 2006
In June 2009, Shopify launched an application programming interface (API) platform and App Store. The API allows developers to create applications for Shopify online stores and then sell them on the Shopify App Store.
In February 2012, Shopify acquired Select Start Studios Inc (“S3”), a mobile software developer, along with 20 of the company’s mobile engineers and designers. In August 2013, Shopify acquired Jet Cooper, a 25-person design studio based in Toronto
In August 2013, Shopify announced the launch of Shopify Payments, which allowed merchants to accept credit cards without requiring a third party payment gateway. The company also announced the launch of an iPad-centric point of sale system. It uses an iPad to accept payments from debit and credit cards. The company received $100 million in Series C funding in December 2013
By 2014, the platform had hosted approximately 120,000 online retailers, and was listed as #3 in Deloitte’s Fast50 in Canada, as well as #7 in Deloitte’s Fast 500 of North America. Shopify earned $105 million in revenue in 2014, twice as much as it raised the previous year. In February 2014, Shopify released its enterprise solution “Shopify Plus” for large e-commerce businesses with access to additional features and support
In September 2015, Amazon.com announced it would be closing its Amazon Webstore service for merchants, and had selected Shopify as the preferred migration provider;Shopify’s shares jumped more than 20% upon the news
In January 2017, Shopify announced integration with Amazon that would allow merchants to sell on Amazon from their Shopify stores. Shopify’s stock rose almost 10% upon this announcement
On May 11, 2017, Shopify acquired Oberlo, which was one of the star applications on its own Shopify App Store. Oberlo connects Shopify merchants with suppliers who ship products directly to consumers, and was acquired for $15M
In April 2019, Shopify announced an integration with Snapchat to allow Shopify merchants to buy and manage Snapchat Story ads directly on the Shopify platform. The company had previously secured similar integration partnerships with Facebook and Google
On August 14, 2019, Shopify launched Shopify Chat, a new native chat function that allows merchants to have real-time conversations with customers visiting Shopify stores online
On September 9, 2019, Shopify announced the acquisition of 6 River Systems, a Massachusetts-based fulfillment solutions company. The acquisition was finalized in October resulting in a cash-and-share deal worth US$450 million
On December 12th, 2019, Shopify began to allow its merchants to sell in multiple languages through a native integration and through the use of compatible third party translation apps
On February 21, 2020, Shopify announced it would join the Libra Association, the Facebook-led group aiming to create the Libra digital currency, to help build a new payment network
#Shopify #ODMT #Subhashmangalam
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