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.
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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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