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☆ Shopify president on Q1 results: Seeing the strongest version of Shopify in our 20-year history
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShopify president on Q1 results: Seeing the strongest version of Shopify in our 20-year historyShopify president Harley Finkelstein joins 'Squawk on the Street' to discuss the company's quarterly earnings results, Q2 guidance, strength of the consumer, growth outlook, and more.

Persons: Harley Finkelstein

☆ Shopify says AI has helped keep its head count flat
▼ + stars: | 2024-05-08 | by ( Madeline Stone | ) www.businessinsider.com time to read: +3 min

Shopify executives said during the company's first-quarter earnings call on Wednesday that its head count has stayed flat for the past three quarters and that using AI has been a major contributing factor. Shopify has been touting its "new shape" since it sold its logistics business and laid off 20% of its workforce in May 2023. This story is available exclusively to Business Insider subscribers. It's also found efficiencies by using AI throughout the company. Internal AI tools have also allowed Shopify to offer multilingual support 24/7, whereas it was previously offered only during set working hours.

Persons: Shopify, We've, Harley Finkelstein, It's, Jeff Hoffmeister, Hoffmeister, crafters, —, Charlie Miner Organizations: SEC, Business, Shopify's Locations: mstone@businessinsider.com

☆ Shopify has poached at least two dozen employees from Salesforce as it pushes into enterprise e-commerce
▼ + stars: | 2024-04-04 | by ( Madeline Stone | ) www.businessinsider.com time to read: +9 min

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

☆ Looking for dividend income? Jim Cramer says consider this beverage giant's stock
▼ + stars: | 2024-02-14 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

Overall, it was an "unbelievably good quarter," Jim said. Coca-Cola : The beverage giant's fourth-quarter earnings met Wall Street expectations, while sales exceeded analyst projections. I think that stock works its way higher over time," Jim said. Meanwhile, Uber announced a $7 billion stock buyback program, which Jim called "really nice." It was a very good quarter," Jim said.

Persons: Jim Cramer, Harley Finkelstein, Jim, David Risher's, Uber, Kraft, Oscar Mayer Organizations: Management, Kraft Heinz, Robinhood

☆ Shopify President Harley Finkelstein goes one-on-one with Jim Cramer
▼ + stars: | 2024-02-13 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShopify President Harley Finkelstein goes one-on-one with Jim CramerShopify President Harley Finkelstein joins 'Mad Money' host Jim Cramer to talk quarterly results, consumer trends, the ecommerce space and more.

Persons: Harley Finkelstein, Jim Cramer

☆ Shopify President Harley Finkelstein talk B2B business
▼ + stars: | 2024-02-13 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShopify President Harley Finkelstein talk B2B businessShopify President Harley Finkelstein joins 'Mad Money' host Jim Cramer to talk quarterly results, consumer trends, the ecommerce space and more.

Persons: Harley Finkelstein, Jim Cramer

☆ Jim Cramer calls Shopify's financial guidance 'quizzical' after such a strong quarter
▼ + stars: | 2024-02-13 | by ( Paulina Likos | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer said Tuesday that Shopify investors are searching for clues after the company's financial outlook fell short of expectations, tanking shares despite a positive quarter. Shopify reported fourth-quarter earnings before the opening bell, delivering strong year-over-year revenue growth and healthy profitability. But it was management's lower-than-expected margin guidance for the fiscal 2024 first quarter that weighed on shareholder confidence and sent the stock 10% lower in Tuesday trading. But he added that management's guidance was "quizzical" given the company's solid financial results for the quarter and after its strong run last year. SHOP 1Y mountain Shopify 1 year Cramer will speak with Shopify President Harley Finkelstein on "Mad Money" on Tuesday evening to drill down on the quarterly results and the guide.

Persons: CNBC's Jim Cramer, tanking, Shopify, Cramer, Harley Finkelstein

☆ Shopify President says international business is a 'massive area of growth'
▼ + stars: | 2024-02-13 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Shopify President Harley Finkelstein told CNBC's Jim Cramer on Tuesday how the e-commerce platform is bolstering its global business. "International is a massive area of growth for us," Finkelstein said. Shopify has also expanded its customer base beyond smaller merchants, serving brands such as Everlane, Nike Strength and Oscar de la Renta, he added. The company is also focused on business-to-business sales, working with wholesalers such as HVAC outfit Carrier . Shopify reported quarterly earnings before Tuesday's open, beating Wall Street's expectations but sending shares down due to mixed guidance for the current period.

Persons: Harley Finkelstein, CNBC's Jim Cramer, Finkelstein, Shopify, Oscar de la Organizations: Suntory, Nike Locations: Swedish, Shopify

☆ After strong e-commerce sales during Black Friday, Jim Cramer explains how new technology enables success of smaller businesses
▼ + stars: | 2023-11-27 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Monday lauded the success of e-commerce merchants during Black Friday, suggesting that new technology and online services has helped small and medium-sized businesses turn profits. Cramer cited data from Shopify President Harley Finkelstein, who said the e-commerce platform saw $4.1 billion in sales on Black Friday, up 22% from last year. Shopify helps merchants build online stores, offering a variety of services, including shipping and inventory management, for around $39 per month. Owners are are empowered by new, fairly accessible tools that help them succeed despite an economy burdened by the Federal Reserve's rate hikes, Cramer said. There are a number of companies that allow small businesses compete with larger ones by offering services at reasonable prices, such as website designer Wix.com , Cramer said.

Persons: CNBC's Jim Cramer, Cramer, Harley Finkelstein, Wix.com, Twilio Organizations: Federal, Intuit, Social Locations: Black

☆ Shopify's Harley Finkelstein on Black Friday record: What we're seeing is the power of the consumer
▼ + stars: | 2023-11-27 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShopify's Harley Finkelstein on Black Friday record: What we're seeing is the power of the consumerShopify president Harley Finkelstein joins 'Squawk on the Street' to discuss the company's breaking its Black Friday record, after customers hit $4.1 billion in sales, holiday season shopping outlook, and more.

Persons: Shopify's Harley Finkelstein, Harley Finkelstein Organizations: Black

☆ Shopify's new marketplace takes a markedly different approach than Amazon's
▼ + stars: | 2023-11-07 | by ( Madeline Stone | ) www.businessinsider.com time to read: +4 min

Like on the app, shoppers using the new site can search for and purchase products from across Shopify's merchant base. Shop Cash can only be redeemed on Shop. The app and website also display special offers from merchants where shoppers' Shop Cash rewards are multiplied. Shopify's web app and Shop app before it are as much marketplaces as Amazon," Juozas Kaziukėnas, CEO of e-commerce intelligence firm Marketplace Pulse, told Insider. We're not disclosing just yet, but the Shop app is becoming much more popular," company president Harley Finkelstein said in response.

Persons: Shopify, Rick Watson, Watson, they've, Siti Panigrahi, Harley Finkelstein Organizations: Google, RMW Commerce Consulting, Cash, Shopify, Shoppers, Shop, Mizuho Securities, LTV, Amazon

☆ Shopify's Harley Finkelstein on Q3 earnings beat: We're really firing on all cylinders right now
▼ + stars: | 2023-11-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShopify's Harley Finkelstein on Q3 earnings beat: We're really firing on all cylinders right nowShopify president Harley Finkelstein joins 'Squawk on the Street' to discuss the company's quarterly earnings results, which beat on the top and bottom lines for the third quarter, and more.

Persons: Shopify's Harley Finkelstein, Harley Finkelstein

It also provides apps for merchants to sell directly on marketplaces like Amazon and Walmart, which are also building out AI additions for merchants. As part of the AI suite, Shopify launched AI app Sidekick, which helps sellers decide on inventory, promotions and marketing, lessening their dependence on third-party widgets. Analysts expect sales of Shopify's merchant products, which includes Shopify Magic, to increase 21% to $1.2 billion compared to last year, the first deceleration in four quarters. Shopify Magic is part of the company's long-term strategy to gain more merchants on its platform that will pay higher prices for its services. Shopify's subscriptions include Shopify Magic at no additional charge.

Persons: Chris Wattie, Jeff Hoffmeister, Shopify, Michael Morton, Hunter, Harley Finkelstein, Angelo Zino, Zino, Arriana McLymore, Josie Kao Organizations: REUTERS, Walmart, CFRA, Thomson Locations: Ottawa , Ontario, Canada, LSEG, Ottawa, New York City

☆ In a leaked memo, Shopify CEO Tobi Lütke discourages employees from having side hustles, saying Shopify requires 'unshared attention'
▼ + stars: | 2023-09-28 | by ( Madeline Stone | ) www.businessinsider.com time to read: +5 min

Shopify CEO Tobi Lütke wrote a company-wide memo Wednesday discouraging employees from having side hustles. "This surprises me because it directly contradicts the countless times I've said Shopify is like a professional sports team that requires our unshared attention." The Vault is a set of internal web pages where Shopify employees can access information about company policies. "He was someone who could devote his full attention and time to that quest," Finkelstein wrote. Lütke said Wednesday that employees should start their own Shopify stores because it helps them to stay familiar with the platform.

Persons: Tobi Lütke, Lütke, I've, Shopify, Harley Finkelstein, David Segal, Finkelstein, Segal, Jess Hertz, Read, Jess, Tia, Truman Locations: Shopify, mstone@insider.com

☆ Inside the clash between Amazon and Shopify over Buy with Prime
▼ + stars: | 2023-09-02 | by ( Eugene Kim | ) www.businessinsider.com time to read: +12 min

Amazon and Shopify announced a new Buy with Prime app for Shopify on Wednesday. Buy with Prime let merchants offer Prime benefits, such as fast shipping and free delivery, on websites beyond Amazon.com. Amazon had no choice but to let Shopify merchants view Buy with Prime-related metrics on its own backend console, not within the unified Shopify Admin tool, according to the internal Amazon document from April. If Buy with Prime data wasn't smoothly integrated into Shopify Admin, Shopify merchants might not use the Amazon feature much. Constant delaysThe internal Amazon document described a Shopify-native Buy with Prime app as a "flagship" goal for Amazon's top leadership because it would make Buy with Prime more appealing to Shopify merchants.

Persons: Shopify, Santos Jeff Bezos Kevin Mazur, Jeff Bezos, Tobi Lütke David Fitzgerald, Sportsfile, Harley Finkelstein, Finkelstein, Mark William Lewis, Andy Jassy, they've Organizations: Amazon, Amazon.com, Prime, Project Santos, Getty, Amazon Logistics, Netalico Commerce, Web, Associated

☆ Shopify stock pops after company strikes 'Buy with Prime' deal with Amazon
▼ + stars: | 2023-08-31 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +1 min

Shares of Shopify jumped as much as 9% in early trading Thursday after the Canadian e-commerce company said it struck a deal with Amazon to offer its "Buy with Prime" program to merchants. The companies announced late Wednesday that U.S.-based Shopify merchants will soon be able to access Amazon's Buy with Prime service, which allows them to add the Prime logo and offer Amazon's quick-turnaround delivery options on their storefronts. Members of Amazon's Prime loyalty club can check out using their Amazon accounts. Shopify President Harley Finkelstein later suggested the company was "in talks" with Amazon about integrating Buy with Prime on its platform. As part of the deal, Buy with Prime will be accessible via Shopify's checkout service, and transactions will be processed by Shopify Payments.

Persons: Shopify, Amazon, Harley Finkelstein Organizations: Amazon, Shopify Payments Locations: Ottawa , Ontario, Canada

☆ You can shop Drake's virtual $100 million mansion for everything from a $3,000 robe to a $69 Hotline Bling pool float
▼ + stars: | 2023-08-29 | by ( Dominick Reuter | Madeline Stone | ) www.businessinsider.com time to read: +2 min

Fans can explore and buy exclusive products through a digital rendering of Drake's Toronto mansion. Shopify's latest tool allows the rap star to partner with other brands for unique merch drops. True to form, his approach has been a bit unconventional, with a flagship e-commerce site modeled off his $100 million Toronto mansion, The Embassy. Rather than scroll through the same-old grid of product listings, fans can explore various virtual rooms strewn about with items to buy, all powered by Shopify's e-commerce platform. Shopify Collective is one of several new business-to-business initiatives the company has announced recently, and on the earnings call Finkelstein highlighted the launch of dozens of new B2B features in the last year alone.

Persons: Drake, Everette Taylor, Harley Finkelstein, Finkelstein Organizations: Service, Shopify's Locations: Toronto, Wall, Silicon, Canadian, Embassy

☆ Shopify plans to introduce a new level of customer support for its largest enterprise merchants, as it works to attract bigger companies, leaked video reveals
▼ + stars: | 2023-08-28 | by ( Madeline Stone | ) www.businessinsider.com time to read: +4 min

Shopify is working on a customer support offering for enterprise merchants. In June, Shopify announced that its one-click checkout Shop Pay would be made available to non-Shopify enterprise merchants through Commerce Components. The 2023 version of the report evaluated Shopify Plus and ranked the platform at the top of its peers in terms of execution. Merchant success managers are Shopify employees who consult with Plus merchants about launching and running their online stores. They're often touted as a benefit that can help merchants "get the most value out of Shopify Plus."

Persons: Shopify, Staff Glen Worthington, Ken Wong, Oppenheimer, Wong, Harley Finkelstein, Kaz Nejatian Organizations: Staff, Mattel, Merchant, Shopify Locations: Canadian, Commerce

☆ DTC brands are struggling to turn a profit. Shopify and some software startups aim to solve this by paying customers to shop.
▼ + stars: | 2023-08-17 | by ( Madeline Stone | ) www.businessinsider.com time to read: +5 min

Some are leaning away from the heavy discounting and confusing rewards programs of the past and instead turning to new tech that offers customers cash back for shopping. When shoppers purchase from brands that partner with Catch, they'll get 5-10% back in credit to spend at that store. While DTC brands historically spent a lot to acquire new customers , changes to iOS tracking have made targeted ads less effective. Credit-card companies have also been doing cash-back rewards for years, but those programs don't really benefit brands. PostscriptFondue is another startup looking to revamp loyalty programs by zeroing in on cash-back rewards.

Persons: Nico Perdomo, Denia Ebersole, they'll, It's, Perdomo, Shopify, Harley Finkelstein, that's, Laura Kennedy, William Herlands, Abraham Lucey, Adam Turner, Oren Charnoff, Fondue, Kennedy, Alex Beller, Charnoff Organizations: DTC, Grow, American Express, zeroing, Barstool

☆ See inside Drake's collab with Shopify, a messy virtual mansion stocked with exclusive merch curated and designed by the rap star
▼ + stars: | 2023-08-04 | by ( Dominick Reuter | Madeline Stone | ) www.businessinsider.com time to read: +2 min

Fans can explore and buy exclusive products through a digital rendering of Drake's Toronto mansion. Shopify's latest tool allows the rap star to partner with other brands for unique merch drops. Rather than scroll through the same-old grid of product listings, fans can explore various virtual rooms strewn about with items to buy, all powered by Shopify's e-commerce platform. "We can actually match incredible content creators that have massive audiences with incredible brands," Shopify President Harley Finkelstein said on the company's second-quarter earnings call. Shopify Collective is one of several new business-to-business initiatives the company has announced recently, and on Wednesday's call Finkelstein highlighted the launch of dozens of new B2B features in the last year alone.

Persons: Drake, Harley Finkelstein, Finkelstein Organizations: Service, Shopify's Locations: Toronto, Wall, Silicon, Canadian, Embassy

☆ Shopify President Harley Finkelstein on earnings beat: We are laser-focused on performance
▼ + stars: | 2023-08-03 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShopify President Harley Finkelstein on earnings beat: We are laser-focused on performanceShopify President Harley Finkelstein joins 'Squawk on the Street' to discuss the company's quarterly earnings results, Roku partnership, changing consumer spending habits, and more.

Persons: Harley Finkelstein

☆ Barbie doll sales are booming online as the blockbuster film barrels toward $1 billion at the box office
▼ + stars: | 2023-08-03 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

The "Barbie effect" is also boosting Mattel's direct-to-consumer sales of dolls, per Shopify. Shoppers are "voting with their wallets" for their favorite brands, even as they cut spending elsewhere, one exec said. Two weeks after the hit summer film's release, box office sales are on track to top $1 billion, and retail sales of the namesake dolls are booming. "We're seeing [Mattel] doll sales up 56%," said Harley Finkelstein, president of Shopify, the e-commerce platform that powers the direct-to-consumer operation for Barbie's parent company. "Consumers are voting with their wallets to buy from their favorite brands," he said.

Persons: Barbie, Harley Finkelstein, Finkelstein, Richard Dickson, Dickson, we've Organizations: Service, Shopify, Mattel Locations: Wall, Silicon

☆ Shopify forecasts solid revenue growth on higher prices, more signups
▼ + stars: | 2023-08-02 | by ( Yuvraj Malik | ) www.reuters.com time to read: +2 min

REUTERS/Chris WattieAug 2 (Reuters) - Canada's Shopify (SHOP.TO), forecast strong revenue growth and delivered better-than-expected results for the second quarter on Wednesday, helped by new signups and price increases across its services. In the third quarter, the company expects revenue growth at "low-twenties" percentage and "mid-twenties" when adjusted for changes related to the divestiture of its logistics business. Following the results, Shopify's U.S.-listed shares, which have surged nearly 80% so far this year, added 7% before settling marginally lower in extended trading. In the second quarter, total revenue grew 31% to $1.69 billion and beat analysts' average estimate of $1.62 billion. "This could be a turnaround quarter for Shopify," said Michael Schulman, chief investment officer at Running Point Capital Advisors.

Persons: Chris Wattie, We're, Harley Finkelstein, Shopify, Michael Schulman, Yuvraj Malik, Akshita, Pooja Desai, Arun Koyyur Organizations: REUTERS, Merchants, Running, Capital Advisors, Thomson Locations: Ottawa , Ontario, Canada, Shopify, U.S, Bengaluru

The Credit Card Competition Act was reintroduced last month in both the House and the Senate, after not being brought up for a vote in either chamber during the previous Congress. Retailers in support of the legislation argue credit card processing costs are hurting consumers by driving up the cost of business, and, in turn, the price shoppers pay at checkout. On the other side of the fight, major credit card processing networks like Visa , Mastercard , Discover and Capital One say the bill will actually hurt consumers by diminishing popular credit card rewards programs and lessening fraud protections. Visa and Mastercard account for 80% of all credit card volume, according to data from the Nilson Report, a publication tracking the global payment industry. On average, U.S. credit card swipe fees account for 2.24% of a transaction, according to the Merchants Payments Coalition.

Persons: Doug Kantor, Sen, Dick Durbin, He's, Nilson, Durbin, Harley Finkelstein, Finkelstein Organizations: Visa Inc, Mastercard Inc, Visa, Mastercard, Kroger, Walmart, Discover, Merchants Payments Coalition, CNBC, Main, Electronic Payments Coalition Locations: Tiskilwa , Illinois, U.S, Washington, Shopify, Target, America

☆ Leaked audio details Shopify's plans for AI-first customer support as workers fear they'll be replaced by AI
▼ + stars: | 2023-07-27 | by ( Madeline Stone | ) www.businessinsider.com time to read: +5 min

Shopify executives laid out their plans for an AI-first Support org during a recent town hall. The updates shared during the town hall provoked concerns among some support staff that they could be replaced by AI. The Support org is responsible for troubleshooting issues for Shopify's millions of merchants. The Support org is also using AI for translations, through a tool that staff began testing in June. Worthington struck an optimistic tone about AI's impact on both the Support org and the business world as a whole.

Persons: we're, Clovis, wasn't, Glen Worthington, Worthington, Harley Finkelstein Organizations: Twitter Locations: Shopify

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