The Subscription Solutions revenue increased by 68%, whereas the Merchant Solutions revenue went up 115% the last year. “Throughout 2017 we will continue to build out our ability to seize this opportunity by expanding not only our existing features, such as channels, payments, shipping and capital, but also our facilities and infrastructure”, explains Russ Jones, Shopify’s CFO. “These investments are timely, as we expect the number of merchants on Shopify to continue expanding rapidly and their collective sales volumes to continue to grow at a rate several times that of overall retail.”
Shopify is the leading cloud-based commerce platform for small and medium-sized businesses and operates in 175 countries. It is mainly present in the United States but also has many clients in Europe. The software can be used to design, set up and manage stores across multiple sales channels including web, mobile, social media, marketplaces and brick and mortar stores. It also provides a back-office and single view of the business. Shopify’s clients also include large brands such as Tesla, Nestlé, GE or Red Bull.
Last year, the company launched a plugin for WordPress which allows website owners with this CMS to add a shopping function to their page. Furthermore, Shopify augmented its existing competition “Build a Business” with a new “Build a Bigger Business” competition in the beginning of the year. It aims to provide already established SMEs with mentorship to help them reach their growth objectives. The winners in each category will have the opportunity to spend an entrepreneurial getaway at the Namale Resort and Spa in Fiji with Tony Robbins and other business mentors.