Fri. Apr 23rd, 2021

Shopify Payments was launched in August 2013, allowing merchants to accept credit cards without the use of a third-party payment gateway.  In addition, the company announced the release of an iPad-centric point-of-sale device. It accepts debit and credit card payments using an iPad. In December 2013, the company raised $100 million in Series C funding. In 2014, Shopify made $105 million in sales, more than double the previous year’s total.  Shopify launched its enterprise solution “Shopify Plus” in February 2014, which gives large e-commerce companies access to additional functionality and support. 

Shopify filed for an initial public offering (IPO) on the New York Stock Exchange and the Toronto Stock Exchange on April 14, 2015, with the symbols “SHOP” and “SH” for the New York Stock Exchange and “SH” for the Toronto Stock Exchange, respectively. Shopify went public on May 21, 2015, and on its first day of trading on the New York Stock Exchange, it opened at $28, more than 60 percent higher than its initial public offering price of $17, earning more than $131 million.Amazon.com revealed in September 2015 that it would be closing its Amazon Webstore service for retailers, and that Shopify had been chosen as the preferred migration provider;The news caused Shopify’s stock to rise by more than 20%. Boltmade was acquired by Shopify on October 3, 2016.

 A Shopify partnered with Paystack in November 2016, allowing Nigerian online merchants to accept payments from customers all over the world.  Shopify website development agency released Frenzy, a mobile app that boosts flash sales, on November 22, 2016.  Tiny Hearts, a Toronto-based mobile app creation studio, was acquired by Shopify on December 5, 2016. Shopify has converted the Tiny Hearts building into a research and development centre. Shopify announced an Amazon integration in January 2017, allowing merchants to sell on Amazon from their Shopify stores. Following this news, Shopify’s stock jumped nearly 10%. Shopify launched a Bluetooth-enabled debit and credit card reader for in-store transactions in April 2017.

 Since then, the company has launched more technology for brick-and-mortar stores, including a point-of-sale device with a Dock and Retail Stand close to Square’s, as well as a tappable chip card reader. Shopify acquired Oberlo on May 11, 2017, which was one of the most popular apps on its own Shopify App Store. Oberlo was purchased for $15 million and links Shopify merchants with vendors that ship goods directly to customers. Shopify reported in September 2018 that thousands of workers will be relocated to Toronto’s King West neighbourhood in 2022 as part of the “The Well” complex, which is jointly owned by Allied Properties REIT and RioCan REIT.

Shopify opened their first physical location in Los Angeles in October 2018. Classes, a “genius bar” for Shopify users, and workshops were all available in the room. When cannabis was legalised in Ontario in October 2018, Shopify’s app was used for online purchases. After the legalisation of cannabis in Ontario in 2019, Shopify’s app has also been used for in-person cannabis transactions. Shopify Studios, a full-service television and film content and production house was announced in January 2019. Shopify and email marketing company Mailchimp terminated their integration agreement on March 22, 2019, due to disagreements about consumer privacy and data coll. Shopify and Snapchat announced a partnership in April 2019, allowing Shopify merchants to purchase and control Snapchat Story advertising directly .The Shopify platform. Similar integration deals with Facebook and Google had previously been secured by the company. Handshake, a business-to-business e-commerce site for wholesale products, was acquired by Shopify in May 2019. Handshake’s team was merged into Shopify Plus, and Glen Coates, the company’s founder and CEO, was promoted to Director of Product for Shopify Plus. Shopify revealed in June 2019 that it will launch its own fulfilment network. The service promises to manage merchant delivery logistics and will compete with Amazon FBA, which is already a market leader. The Shopify Fulfillment Network will be available to qualifying U.S. retailers in a limited number of states at first. Shopify Chat, a new native chat function that enables merchants to have real-time conversations with customers visiting Shopify stores online, was introduced on August 14, 2019.

Shopify announced the acquisition of 6 River Systems, a fulfilment solutions [buzzword] business headquartered in Massachusetts, on September 9, 2019. In October, the transaction was completed, resulting in a cash-and-share deal worth US$450 million .The organization announced new hires in Vancouver, Canada, in 2020, and the COVID-19 pandemic’s results helped to boost stock prices.

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