Overtaking on a curve! This platform may become the second largest e-commerce giant in the United States

Overtaking on a curve! This platform may become the second largest e-commerce giant in the United States

The company’s stock has been on a tear over the past year, rising 150% and surpassing eBay’s market cap. If Shopify continues to grow at its current rate, it will surely surpass eBay someday.

 

As we all know, Shopify is a platform that helps merchants start opening online stores and selling. It provides some tools to help sellers open online stores and provides sellers with payment channels.

 


Recent data shows Shopify's market value is $40 billion, while eBay's market value is $34 billion.

 

It is understood that Shopify's revenue in the second quarter was $362 million, an increase of nearly 50% over the same period last year. The total sales of its platform merchants increased to $13.8 billion, also an increase of 51% over a year ago. eBay's performance was not so good in comparison, with total sales of approximately $21.5 billion in the most recent quarter.

 

Shopify said it expects revenue to grow by more than 20 percent year-over-year in 2023, driven by fourth-quarter revenue growth.

 

“Our results demonstrate the durability of our business model, as we achieved a combination of top-line growth and profitability, with revenue up 25% year-over-year and free cash flow margin reaching 16%,” Shopify CFO Jeff Hofmeister said in a statement. “We will continue to exercise strict operating discipline and invest thoughtfully in the huge opportunities ahead across regions, products, and channels to help merchants seize every opportunity.”

 

On the other hand, eBay also recently announced that it will start launching managed delivery services in the United States next year. The company said that this move will meet the needs of sellers with larger inventories and reduce complexity and costs.

Shopify

USA

E-commerce

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