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Shopify cashes in on pandemic, emerges as stock market winner
The Covid-19 pandemic has forced many small businesses to finally open online stores and turned Shopify into one of the biggest winners of the retail shakeout.
The phenomenon of online shopping during the Covid-19 pandemic has been a revelation as Canadian e-commerce software provider Shopify illustrated with second quarter revenue of $714.3 million, twice that of the previous quarter. Tellingly, it's not the branded retailers with an established online presence that are behind NYSE-listed Shopify's doubling of its quarterly revenue, but an astonishing 71% surge in new online stores on its platform, compared with the previous quarter. – Derek Alberts
Shopify, suddenly worth $117 billion, is one of the biggest pandemic winners
By Inti Pacheco
The coronavirus pandemic has forced many small businesses to finally open online stores—and turned e-commerce software provider Shopify Inc. into one of the biggest winners of the retail shakeout.
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