E-Commerce platform Shopify recently announced an increase in revenue by about 47% in the fourth quarter (Q4) of 2019 from 2018. The company reported annual revenues of $1.57 billion in 2019, and it plans to invest more in technology moving ahead.
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Shopify attributes the increased growth to many factors, majorly its native chat feature for merchant sites and Shopify email. Its monthly recurring revenue grew by nearly 32% YOY $53.9 million. Harley Finklestein, CEO at Shopify, said, “With consumer expectations rising for fast and affordable delivery, fulfillment poses a challenge to all businesses…Combining our economies of scale with the automated fulfillment technology from 6 River Systems, we will enable our merchants to better compete with the largest business on the planet.”
Source: https://marketingland.com/shopify-revenue-grew-47-in-q4-as-merchants-take-advantage-of-new-marketing-capabilities-275864
