When one thinks about the world's e-commerce giants, Amazon, Alibaba, Jingdong, and Jindo usually comes to one's mind, each of which is a vast digital business empire.
But Shopify, founded in 2004, has created a completely decentralized e-commerce infrastructure where over one million distributors, retailers, and brands are concentrated. As of this writing, Shopify's market capitalization has exceeded US$140 billion. Shopify is becoming a nascent force stirring up the global e-commerce retail industry.
As of September 30, 2020, Shopify reported revenue of US$767.4 million for the third quarter, up 96% year-on-year, and GMV of US$30.9 billion, up 109% year-on-year. Consumer demand has also shifted more online in the wake of the epidemic, with total transactions expected to top US$100 billion for the full year 2020. Keep in mind that Amazon's total turnover for the 2019 fiscal year is also only $335 billion.
There is no doubt that Shopify has become a significant player in e-commerce in the U.S. Shopify's founder has stated, "Amazon is building an empire, while Shopify is trying to arm the rebels."
Born in 2004, Shopify is pushing forward with great speed. At the beginning of 2019, Shopify has more than 800,000 merchant users in around 175 countries/regions. Furthermore, according to eMarketer, Shopify accounted for 5.9% of all retail e-commerce sales in the US last year, second only to Amazon's 37.3% share.
【Source text: by report】
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