Shopify has announces plans to launch IPO on New York Stock Exchange
Shopify, an e-commerce platform based in Canada, has announced its plans to become a public company. The organization aims to raise some $100 million through an initial public offering (IPO) with the list name “SHOP” on the New York Stock Exchange. Shopify has release information concerning its operations ahead of the IPO, hoping that this information will generate some hype behind the company’s entry into the stock market.
Shopify provides information concerning growth over recent years
According to the information provided by Shopify, the company made $105 million in revenue last year, up from the $50.3 million it reported in revenue in 2013. Over the past three month, Shopify has generated $37.3 million in revenue. The company reported a net loss of $22.3 million in 2014, with this loss reaching $4.5 million in the past three months. The platform currently supports more than 162,000 merchants across 150 countries around the world.
Consumers are becoming more comfortable with shopping online
Shopify has shown that it is quite adept at processing payments in the e-commerce space. Last year, the company processed $3.8 billion in Gross Merchandise Volume. The platform has become quite popular among merchants that are interested in digital commerce. These merchants are finding that it is becoming more important to have an online presence in order to engage a new generation of consumers that are favoring the concept of shopping online for products that they are interested in. Engaging these consumers can be quite lucrative, as they are typically more comfortable with large purchases.
Mobile commerce is playing a larger role in the retail space
According to Shopify, merchants using its services saw an average of 300 million unique monthly visitors. Nearly 50% of these visitors came to retail websites on a mobile device. Mobile consumers are becoming more numerous in the retail sector, opting to shop for and purchase products using their smartphones and tablets. Merchants with mobile commerce support are likely to find more success in the coming months, as consumers become more comfortable with using their devices to participate in e-commerce.