Shopify Recent Developments
In September 2018 – Shopify launched its new Shopify App Store. Originally launched in 2009, the Shopify App Store is a collection of free and premium apps that extend the functionality of Shopify merchants’ online stores, helping them sell more and save time.
Through a beautiful redesign, machine learning algorithms, and improved search functionality, the new Shopify App Store prioritizes discovery of apps through personalized recommendations, enabling merchants to make better and faster decisions for their businesses.
Apps play an integral role in a Shopify merchant’s commerce journey. With more than 85% of surveyed merchants saying that they rely on apps to run their businesses, Shopify has invested in redesigning the Shopify App Store to match the complexities of running a commerce business in 2018 and beyond.
Shopify’s new app store uses machine learning to power smart app recommendations. This new adaptive user experience is tailored, making it easier for merchants at any stage in their business to find the right apps they need to support and grow their business. The machine learning algorithms on the Shopify App Store are designed to make better and more useful recommendations over time, as they learn about merchants’ businesses and which apps are driving results.
Shopify’s new app store will provide an even better platform for developers to showcase their Shopify apps and grow their own businesses. As app stores mature they can become bloated with too many options, making it difficult and frustrating for users to find the right app. This can result in a lower discoverability and download rate for apps.
No matter how good an app is, it won’t get traction if it is not surfaced to the right user. To assist with discovery and decision making, Shopify has updated app classifications to be more specific to the commerce challenge the app addresses and restructured the app listing page to clearly communicate exactly what merchants need to know.
With this new, conversion-optimized layout, merchants will be able to discover apps faster, quickly understand an app’s value, and make a decision to install. While merchants enjoy a better app discovery and greater personalization, Shopify developers will benefit by getting more highly qualified leads to their app listings.
Shopify M&A Activities
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Shopify Overview
Ownership: - SHOP :NYSE
Employees: 3000
Functional Market: eCommerce,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction and Real Estate, Consumer Packaged Goods, Distribution, Leisure and Hospitality, Manufacturing, Media, Professional Services, Retail, Transportation, Utilities,
Shopify Key Enterprise & Cloud Applications
Shopify,
SCORES Analysis
Shopify Strengths
Shopify is a cloud-based, multichannel commerce platform designed for small and medium-sized businesses. Merchants can use the software to design, set up and manage their stores across multiple sales channels, including web, mobile, social media, brick-and-mortar locations, and pop-up shops. This provides a merchant a single view of their business.
The Shopify platform was engineered for reliability and scale, using enterprise-level technology made available to businesses of all sizes. Shopify has four levels of monthly payment plans: Shopify Lite, Basic Shopify, Shopify, and Advanced Shopfy. There is also Shopify Plus for high growth, high volume merchants. Specific features differ based on which plan is picked, and Shopify Payments rates vary between 2.9% + 30 cents to 2.4% + 0 cents.
The Shopify platform includes a content management system that allows users to manage inventory, edit HTML and CSS code, create coupon and discount codes, and accept online payments online with Bitcoin, PayPal and major credit cards.
Shopify went public raising more than $131 million.
The Shopify platform provides merchants with an intuitive user experience that requires no up-front training to implement and use. Merchants can set up their shop in less than 1 hour.
In June 2018 Shopify launched of Shopify Ping, a free mobile app that brings business conversations and tasks all within one interface. With Shopify Ping, merchants will be able to manage their tasks through messaging on their mobile phones, spend more time serving their customers and grow their businesses without having to fumble between apps and tools.
Shopify Ping is a free iOS app available to Shopify merchants in the App Store. It consolidates messages from other apps used to interact with customers through social media, a merchant’s online storefront, email and more in one single interface, making it easier to manage conversations and respond in real-time. In addition, it comes built-in with Shopify’s free virtual assistant, Kit, which helps merchants plan, creates and manage marketing activities through a conversational interface.
With these integrations, Shopify Ping will support actions like running Facebook and Instagram ads, email campaigns, and retargeting campaigns, as well as quicker customer conversations. With almost half (45%) of Shopify’s entrepreneurs running their businesses and engaging shoppers on their mobile devices, flexibility and timeliness are key success factors. Ensuring that entrepreneurs have the tools to keep up is critical to minimizing redundancies and saving time.
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- Key differentiators
- Domain Expertise
- Product portfolio
- Solution scope
Shopify Revenues, $M:
| Type/Year | 2016 | 2017 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Shopify Revenue Breakdown By Type, $M:
| Type | License | Services | Hardware | Support & Maintenance | SaaS |
|---|---|---|---|---|---|
| % of Total Revenues | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
Shopify Enterprise Applications Revenues By Functional Markets, $M:
Shopify Enterprise Applications Revenues By Verticals, $M:
Shopify Revenues By Region, $M
| Region | % of Total Revenues | 2017 Total Revenues, $M | 2017 Enterprise Applications Revenues, $M | 2017 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Shopify Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Shopify Customers
No. of Customers: Subscribe
No. of Enterprise Applications Customers: Subscribe
No. of Cloud Customers: Subscribe
No. of Cloud Subscribers: Subscribe
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- Reference wins across regions
- Customer Size segments
- Customer wins momentum
Shopify Opportunities
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- Market Opportunities at the vertical and subvertical levels
- Mergers and Acquisitions (M&A), Funding
- Geo Expansions
Shopify Risks
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- Ability to handle internal and external risk and challenges
Shopify Ecosystem
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- Health of ecosystem
- Network Effects of BPO, ISV, SI
- VAR Partners
- Direct vs Indirect sales
Shopify Cloud Infrastructure Insights
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- Cloud Infrastructure (IaaS)
- Cloud Platform (PaaS)
- Cloud Application delivery (SaaS)
- Data Center (Hosting)
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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