Business Wire

Now Powering Over 1 Million Merchants, Shopify Debuts Global Economic Impact Report

Share

Shopify Inc. (NYSE:SHOP) (TSX:SHOP), the leading global commerce company, today released its first global economic impact report showcasing the growth of businesses built on Shopify and how they benefit the world economy. Shopify is powering a global economic movement, that’s now a million merchants strong and growing. This new report reveals data and insights on how the success of independent business owners is critical to economic prosperity, Shopify’s efforts to remove barriers and democratize commerce, and how commerce can be a force for global good.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191030005121/en/

“With over one million businesses now built on Shopify, together we’re rewriting the rules for our modern economy,” said Tobi Lütke, CEO of Shopify. “Increasing the collective impact of these businesses is critical. That's why Shopify provides ambitious entrepreneurs with powerful tools to be successful and connect directly with customers. Other platforms have restricted these opportunities, so we’re arming the rebels of the commerce industry. This report highlights what Shopify has always known: the world economy is better with more voices, not fewer.”

Shopify puts commerce technology in the hands of entrepreneurs and enables capitalism for good, allowing buyers to vote with their dollars and support independent business owners who dare to strike out on their own. With Shopify’s offerings, anyone, anywhere can start a business and impact everyone. The global economic impact report details the incredible growth of Shopify, driven by its focus on these key principles: The importance of democratizing technology; individuals can change the world, from anywhere in the world; entrepreneurship elevates communities; and the future is borderless commerce.

Key findings from the report include:

● Businesses built on Shopify supported $183 billion in global economic activity from 2016-2018.

● Businesses using Shopify delivered more than $100 million in economic activity in 40+ countries, and more than $1 billion in 12 countries from 2016-2018.

● In 2018, Shopify’s merchants’ online sales growth was 59%, more than double the growth of the global ecommerce market.

● Last year, businesses on Shopify supported over 1.4 million full time jobs around the world.

● In 2018, Shopify’s revenue surpassed $1 billion, while our partner ecosystem generated nearly $1.7 billion.

● Businesses from emerging countries using Shopify are boosting their local economies, generating $3+ billion in revenue and 93% of their sales internationally were to advanced economies, well above the global average of 65% from 2016-2018.

● The exports of businesses using Shopify are growing 7X the global average: our merchants’ exports grew 76% compared to the global average rate of nearly 10% from 2016-2018.

Download a summary of Shopify’s global economic impact report here.

About Shopify

Shopify is a leading global commerce company, providing trusted tools to start, grow, market, and manage a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for reliability, while delivering a better shopping experience for consumers everywhere. Headquartered in Ottawa, Canada, Shopify powers over one million businesses in more than 175 countries and is trusted by brands such as Allbirds, Gymshark, PepsiCo, Staples, and many more. For more information, visit www.shopify.com.

This report looks at data from our global merchant base, as well as relevant third-party data collected by Deloitte Canada.

All currency in USD.

Contact information

Julie Nicholson
Director of Communications
416-238-6705 x 302
press@shopify.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Piper Sandler Advises Momentive Performance Materials on the Sale of its Consumer Sealants Business to Henkel Corporation7.8.2020 21:55:00 EESTPress release

Piper Sandler &Co., a leading investment bank and institutional securities firm, served as financial advisor to Momentive Performance Materials Inc. (Momentive) in the sale of its consumer sealants business to Henkel Corporation. The deal, which remains subject to customary closing conditions including regulatory clearances, is expected to close in 2020. Momentive’s consumer sealants business encompasses GE-branded consumer sealants sold under license from the General Electric Company and available through home-improvement centers, major retailers and hardware stores. Momentive will continue to manufacture consumer sealants through 2021 under a transition supply agreement. (Source: Momentive Performance Materials Inc.) “In the midst of a pandemic, we are delighted to have helped Momentive, reach this agreement and achieve the goals of the company and its shareholders,” said Telly Zachariades, managing director, chemicals and materials, at Piper Sandler. “We are looking forward to aidin

ENA Investment Capital Publishes Open Letter to Ontex Shareholders7.8.2020 14:00:00 EESTPress release

ENA Investment Capital (“ENA”), a long-term, value-oriented investment firm and the second-largest shareholder in Ontex Group NV (“Ontex” or the “Company”) owning c.15% of the Company’s outstanding shares, today issued the following public letter to Ontex’s shareholders. Dear Fellow Ontex Shareholders, ENA Investment Capital, owning c.15% of the voting shares of Ontex, has devoted considerable time and resources to conduct a thorough analysis of Ontex. This includes acquiring a comprehensive understanding of the personal hygiene segment and, more importantly, of the Company’s turnaround potential which we are convinced, if effectively executed, can deliver significant value for shareholders. As part of this extensive 18-month due diligence effort, we have consulted with former executives from Ontex as well as its main competitors, industry experts, investment bankers, lawyers and specialist consultants on a wide range of topics critical to Ontex’s business such as raw material trends a

Novavax and Takeda Announce Collaboration for Novavax’ COVID-19 Vaccine Candidate in Japan7.8.2020 12:28:00 EESTPress release

Novavax, Inc. (Nasdaq: NVAX), a late stage biotechnology company developing next-generation vaccines for serious infectious diseases, and Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK), today announced a partnership for the development, manufacturing and commercialization of NVX‑CoV2373, Novavax’ COVID‑19 vaccine candidate, in Japan. NVX‑CoV2373 is a stable, prefusion protein made using Novavax’ recombinant protein nanoparticle technology and includes Novavax’ proprietary Matrix‑M™ adjuvant. Takeda will receive funding from the Government of Japan’s Ministry of Health, Labour and Welfare (MHLW) to support the technology transfer, establishment of infrastructure and scale-up of manufacturing. Takeda anticipates the capacity to manufacture over 250 million doses of the COVID-19 vaccine per year1. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200807005160/en/ “Takeda’s leading position in Japan, technical expertise,

SES S.A.: Half Year 2020 Results7.8.2020 08:30:00 EESTPress release

SES S.A. announced financial results for the six months ended 30 June 2020. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200806006164/en/ SES S.A.: Half Year 2020 Results (Photo: Business Wire) Solid H1 performance in line with expectations and continued underlying growth in Networks of +7.1% year-on-year(1,2) Revenue of EUR 947.5 million, -1.5% as reported with underlying revenue 2.4%(1,2) lower than H1 2019 Adjusted EBITDA(3) of EUR 582.0 million, -2.3% as reported (-3.5% at constant FX(2)) compared with H1 2019 and representing an Adjusted EBITDA(3) margin of 61.4% including a 2.2% year-on-year reduction in recurring operating expenses Limited COVID-19 impact in H1 reflecting business resilience with measures in place to mitigate increased headwinds in H2 2020 Updated FY 2020 group revenue outlook to EUR 1,860 - 1,900 million(4) in view of expected COVID-19 related revenue development FY 2020 Adjusted EBITDA(3) outlook

Western Union Stands in Solidarity with Lebanon6.8.2020 23:47:00 EESTPress release

Western Union, a leader in cross-border, cross-currency money movement and payments, today announced that it is offering zero-feei international money transfers paid out in U.S. dollars to Lebanon, as the country grapples with its recent tragedy amidst other economic and pandemic related threats. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200806006068/en/ Western Union Stands in Solidarity with Lebanon; Money Transfers to Lebanon Zero-Fee Paid out in US Dollars (Graphic: Business Wire) “We stand in solidarity with the people of Lebanon as they confront this latest tragedy following the horrific explosion in Beirut on August 4. Our thoughts and prayers are with families of those injured and have lost their lives,” said Jean Claude Farah, President, Global Network, Western Union. Farah said: “We know the people of Lebanon will stand strong as they grapple with this latest issue amidst other pressures of economic and COVID-

Pacific Drilling Announces Second-Quarter 2020 Results; Pacific Sharav Awarded a New 10-Well Contract in U.S. Gulf of Mexico6.8.2020 23:04:00 EESTPress release

Pacific Drilling S.A. (NYSE: PACD) (“Pacific Drilling” or the “Company”) today reported results for the second quarter of 2020. Net loss for second-quarter 2020 was $87.4 million or $1.16 per diluted share, compared to net loss of $61.0 million or $0.81 per diluted share in first-quarter 2020. Pacific Drilling CEO Bernie Wolford commented, “In the second quarter, our crews and leadership continued to exemplify our commitment to safe and efficient operations, including adopting measures to manage risks associated with COVID-19 transmission, delivering exceptional results for our clients, efficiently preserving the value of our assets and significantly reducing overhead costs.” Mr. Wolford continued, “Although oil prices began to rebound during the second quarter, clients have generally reduced their drilling investments, as evidenced by Equinor’s decision to cancel the previously exercised third firm well for Pacific Khamsin, and Murphy’s decision to cancel the two well Mexico contract

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom