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Holly Dresden joined Shopify as head of enterprise merchant success in December after six years with Salesforce Commerce Cloud. Evan AgostiniAs it moves further into enterprise, Shopify hasn't always been subtle about zeroing in on Salesforce as a competitor. It recently launched a webpage comparing its platform with Salesforce Commerce Cloud, encouraging merchants to "join the mass migration" of brands moving from Salesforce to Shopify. But winning over enterprise retailers requires a different approach, and it's one where Salesforce has more years of experience than Shopify. Talking the enterprise talkPoaching employees from Salesforce isn't the only way Shopify has made an effort to win over enterprise customers.
Persons: , Shopify, Kal Stephen, Holly Dresden, Everlane, Marc Benioff, Evan Agostini, hasn't, Michael Affronti, we've, Affronti, Shopify's, Salesforce, We've, It's, Rick Watson, Watson, Demandware, Oppenheimer, Ken Wong, Wong, Harley Finkelstein Organizations: Service, Salesforce Commerce, Business, Salesforce, Adobe, SAP, Mattel, Commerce, RMW Commerce Consulting, Accenture, IDC, Manhattan Associates Locations: Salesforce, Demandware
Meet Boston's new power venture capitalist
  + stars: | 2024-03-06 | by ( Melia Russell | ) www.businessinsider.com   time to read: +10 min
A changing of the guard is underway at Boston-based venture capital firm Underscore VC. The venture capitalist, wearing a cherry red cardigan and Apple Watch, cracked open a notebook and set it beside an iced coffee. Underscore VCLyman's Facebook credentials could have given her a ticket to many venture firms located down the road in Menlo Park. "The thesis is that if you get the right people around the business at the right time, it'll change the trajectory of the business," Lyman said. As Lyman steps up, so does UnderscoreUnderscore is moving into its next phase during a reckoning for venture capital.
Persons: Lily Lyman, , Mike Greene, Marley, Lyman, Greene, she's, Michael Skok, John Pearce, Lyman —, Lily, they're, Skok, Alessandra Henderson, Pamela Aldsworth, Jeff Bussgang, Hi Marley, Gordon Ritter, Kevin Bacon, There's, Ritter Organizations: Service, Harvard University, Facebook, House, Apple Watch, Elektra Health, JPMorgan, New England Venture Capital Association, MIT, Allston Venture Fund, Harvard, Boston's, Capital Partners, OpenView Venture Partners, SEC, Old, Capital Locations: Boston, Old, Menlo Park
With the move to Commerce Components, Shopify could target merchants with sales that are more in the $500 million range, Wong said. For Commerce Components, Shopify has already partnered with Mattel, which generated nearly $5.5 billion in sales for 2021. For a subscription fee, Shopify merchants get access to tools to build an online store, ship out products, and process payments. To convince large retailers to use its product, Shopify must show them it has an edge over legacy software platforms. At the same time, it has launched other products, like its advertising product Shopify Audiences, that are available only to larger merchants using Shopify Plus.
Salesforce could struggle with new leadership in a macro environment that's more difficult to traverse, according to Baird. Analyst Rob Oliver downgraded the stock to neutral from outperform and slashed his target to $150 from $200. "We believe the combination of macro headwinds and seat-based software pressure (driven by recent workforce cuts/hiring slowdown) could pressure revenue growth near term," Oliver said in a note to clients. Salesforce also stands to gain from increased interest in cloud marketing, he said, through acquisitions of Radian6, BuddyMedia and DemandWare. Increased competition through public cloud companies are emerging vendors in more specialized offerings could also hurt the stock.
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