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Ecommerce service provider Shopify announced it will reduce its workforce by 20% and sell Shopify Logistics to Flexport.
Shopify saw strong growth in revenue, gross merchandise volume and MRR but major operating losses.
Shopify announced that they were increasing pricing for their merchant subscription plans by an average of 33%.
Urban Plates is cutting subscription prices in half, Shopify launches a new product to attract big retail, and Autonomy is in trouble.
Ecommerce platform Shopify plans to acquire ecommerce fulfillment provider Deliverr for $2.1B.
Though Shopify reported a 41% increase in earnings, they also reported a $(371.3)M net loss.
Fintech and infrastructure startup Skio raises $3.7M to help Shopify merchants sell subscriptions.
Five major textbook publishers are suing Shopify for allegedly violating copyright laws by selling PDFs of textbooks without authorization.
Black Friday was a multi-billion dollar holiday for Shopify merchants. They set record sales of $2.4 billion, a 75% increase over 2019 sales.
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