15:06:21 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Shopify Inc
Symbol SHOP
Shares Issued 1,206,893,763
Close 2023-12-29 C$ 103.16
Market Cap C$ 124,503,160,591
Recent Sedar Documents

Globe says Shopify's 2024 goal: take on the big boys

2024-01-02 06:53 ET - In the News

The Globe and Mail reports in its Saturday edition that Shopify is entering 2024 with a clear message: It is no longer just a platform for entrepreneurs. The Globe's Irene Galea writes that increasingly, the company is putting itself in competition with some of the world's largest sellers to fight for a piece of big retail commerce. Although Shopify became known for helping smaller businesses create an on-line shops, it now is promising to spend 2024 solving long-standing problems that are keeping larger businesses away. Shopify is moving to get back the momentum that made it Canada's most valuable company early in the COVID-19 pandemic. Targeting larger clients is part of Shopify's bid to expand its total addressable market. In a December note to investors, RBC Capital Markets analyst Paul Treiber said that expanding its enterprise offerings provides the company with "a large market share opportunity." In catering to enterprise customers, Ottawa's Shopify is competing for market share with the likes of Adobe, Oracle and Salesforce. ATB Capital Markets analyst Martin Toner says Shopify is seeing success because its products are cheaper and faster to use than those of its competitors -- and much more flexible.

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