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☆ 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 plans a reorg of its Support division as the ratio of managers to 'crafters' falls below target
▼ + stars: | 2024-04-29 | by ( Madeline Stone | ) www.businessinsider.com time to read: +4 min

Read previewShopify is planning a reorganization of its Support division, and employees worry cuts are on the way. He said that Support teams working with Shopify's largest enterprise merchants would not be affected. OpenAI recently hired Glen Worthington, Shopify's former vice president of global support, to lead its own customer service operations. Jen Bebb, previously Shopify's director of global merchant and product support, left the company in March when Worthington left. Clovis Cuqui, who previously led support as Shopify's VP of merchant acceleration, announced his departure in October.

Persons: —, David Kohl, We've, Kohl, we're, crafters, Shopify, OpenAI, Glen Worthington, Shopify's, Jen Bebb, Worthington, Clovis Cuqui Organizations: Service, Business, WordPress Locations: Philippines, Canada, mstone@businessinsider.com

☆ Shopify embraced a 'new shape' after a post-pandemic slump and has charted an 18-month comeback
▼ + stars: | 2024-04-29 | by ( Madeline Stone | ) www.businessinsider.com time to read: +8 min

Read previewIn October 2022, Shopify's once high-flying stock hit its lowest price since before the Covid pandemic. AdvertisementNow, after two rounds of layoffs and a divestment of its fulfillment and logistics business, the picture looks a bit different for Shopify. Shedding a "money-losing logistics business"Dropping logistics and fulfillment is a major part of Shopify's stock comeback story. In May 2023, Shopify announced it would be selling the logistics business entirely to Flexport. In May 2023, Shopify cut another 20% of its workforce as it sold its logistics business to Flexport.

Persons: —, Shopify's, Shopify, Oppenheimer, Ken Wong, Wong, D.A, Davidson, Gil Luria, Tobi Lütke, Lütke, Luria, Morgan Stanley, Jeff Hoffmeister, Bhavin Shah, GMV, We've, Shah Organizations: Service, Business, Systems, Investors, SEC, Deutsche Bank Locations: Salesforce, mstone@businessinsider.com

☆ OpenAI poaches Shopify's former head of support as the e-commerce giant's support org faces a shake-up
▼ + stars: | 2024-04-09 | by ( Madeline Stone | ) www.businessinsider.com time to read: +3 min

He's the latest among a string of leaders in Shopify's support organization to leave. Shopify's work with AI has incorporated large language models, including those developed by OpenAI. Shopify's Support organization has undergone some leadership changes in recent months. Jen Bebb, previously Shopify's director of global merchant and product support, left the company in March when Worthington left. Miqdad Jaffer, who led companywide AI initiatives as a director of product at Shopify, joined OpenAI's product staff in March.

Persons: OpenAI, Glen Worthington, Worthington, Shopify, Toby Shannan, generalists, Jen Bebb, Clovis Cuqui, Worthington isn't, Miqdad Jaffer Organizations: Business, OpenAI, Operations, Engineering, LinkedIn, WordPress Locations: Shopify, OpenAI, mstone@businessinsider.com

☆ Judge denies lawyers' request to freeze the assets of Wealth Assistants and its executives amid ongoing fraud case
▼ + stars: | 2024-02-28 | by ( Madeline Stone | ) www.businessinsider.com time to read: +4 min

Read previewThe judge overseeing a case brought by more than 60 former clients of Wealth Assistants has denied their lawyers' request for a preliminary injunction against the company. Lawyers representing Wealth Assistants' former clients sought to freeze assets belonging to CEO Ryan Carroll, his mentor and business partner Max K. Day, Day's nephew Max O. AdvertisementMany Wealth Assistants clients said they were drawn by the opportunity to generate passive income through an Amazon store. Business Insider previously reported that Wealth Assistants filed a lawsuit on January 5 against Thread Bank, a digital bank based in Tennessee. Several former Wealth Assistants clients filed a motion to intervene in that suit earlier this month.

Persons: —, Ryan Carroll, Max K, Day's, Max O, John Pacheco, Nico Banks, Carroll Organizations: Service, Lawyers, Business, Amazon, Amazon . Business, Court, Banks Law, Thread Bank Locations: California, San Bernardino County, Washington, DC, Tennessee, mstone@businessinsider.com

☆ US lawmakers are turning up the heat on Temu, Shein, and their use of a shipping loophole that helps keep their prices low
▼ + stars: | 2024-02-26 | by ( Madeline Stone | ) www.businessinsider.com time to read: +4 min

US lawmakers are ramping up their pressure on e-commerce platforms like Temu, Shein, and AliExpress. Representatives for Temu, Shein, and AliExpress did not return Business Insider's request for comment. It added that almost 50% of all de minimis shipments to the US come from China. Shipping consultancy ShipMatrix estimates that Temu and Shein each ship more than a million packages to the US daily. Brown and Scott are not the only US lawmakers to advocate for change as Temu and Shein have gained a foothold.

Persons: Joe Biden, Sherrod Brown, Rick Scott, Brown, Scott, AliExpress, spokespeople, Shein, minimis Organizations: Business, U.S . Customs, Border Protection, Customs, Temu, Chinese Communist Party, China . Shipping, Uyghur, Labor Locations: China, minimis, United States, mstone@businessinsider.com

☆ Exclusive: Shopify rolls out another huge price hike for merchants
▼ + stars: | 2024-02-08 | by ( Madeline Stone | ) www.businessinsider.com time to read: +2 min

The change comes one year after Shopify raised prices for its base subscription plan. Wall Street analysts have since been looking for the company to raise prices for Plus, which is geared toward larger merchants. The price change is a 25% increase. A Plus subscription gives merchants access to more features and services, like Shopify's B2B tools and its customer-acquisition product Shopify Audiences. At the time of publishing, Shopify's stock is up 3% to around $88 compared to an opening price of $85.

Persons: —, Shopify Organizations: Service, Business, Wall Street, Merchants, Shopify, BI Locations: mstone@businessinsider.com

☆ Shopify Fulfillment Network is back — sort of. Here's why it's different this time around.
▼ + stars: | 2024-02-08 | by ( Madeline Stone | ) www.businessinsider.com time to read: +3 min

The new app has a familiar name: Shopify Fulfillment Network. With the new Shopify Fulfillment Network , merchants can sign up to use Flexport's services through Shopify's app. The newly named Shopify Fulfillment Network is not merchants' only option for fulfillment. Wong said the company had also indicated Flexport would not be the exclusive provider for Shopify Fulfillment Network. "They've definitely given themselves more choices than there were before when it was just Shopify Fulfillment Network or bust," he said.

Persons: Shopify, Tobi Lütke, Oppenheimer, Ken Wong, Wong, It's, Flexport, They've Organizations: Shopify Logistics, Business, Shopify, Flexport, Amazon Locations: Flexport, mlstone@protonmail.com

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