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Shopify Beats Estimates, Sees Revenue Growth Slowing in 2021


Shopify Slips After Warning Revenue Growth Will Slow in 2021
Bloomberg
2/17/2021
Danielle Bochove
(Bloomberg) Canadian e-commerce firm Shopify Inc. says it will take advantage of “unprecedented opportunities” in 2021 to speed up innovation and expand into new markets, but warned that its growth rate will slow.
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Revenue will grow “rapidly” this year but not as quickly as in 2020, when it increased 86% to $2.93 billion, the company said Wednesday. It didn’t give specific guidance on earnings for the current year. The arrival of vaccines could see some consumer spending rotate back to bricks-and-mortar retailers, Ottawa-based Shopify said.
Shopify fell as much as 8.8% in intraday trade in New York before recovering to close down 3.3% at $1,425. ....

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Shopify Sees Revenue Growth Slowing in 2021; Shares Decline


Shopify Slips After Warning Revenue Growth Will Slow in 2021
Bloomberg
2/17/2021
Danielle Bochove
(Bloomberg) Canadian e-commerce firm Shopify Inc. says it will take advantage of “unprecedented opportunities” in 2021 to speed up innovation and expand into new markets, but warned that its growth rate will slow.
Popular Searches
Revenue will grow “rapidly” this year but not as quickly as in 2020, when it increased 86% to $2.93 billion, the company said Wednesday. It didn’t give specific guidance on earnings for the current year. The arrival of vaccines could see some consumer spending rotate back to bricks-and-mortar retailers, Ottawa-based Shopify said.
Shopify fell as much as 8.8% in intraday trade in New York before recovering to close down 3.3% at $1,425. ....

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Shopify Pulls Plug on Trump Organization's Online Store


Shopify Pulls Plug on Trump Organization’s Online Store
Bloomberg
7/01/2021
Danielle Bochove
(Bloomberg) Shopify Inc. said it shut down e-commerce stores affiliated with President Donald Trump in response to the storming of the U.S. Capitol by Trump supporters.
“We have terminated stores affiliated with President Trump,” a company spokeswoman said by email. “Shopify does not tolerate actions that incite violence.” The shutdown affects the Trump Organization’s official store, TrumpStore.com, and a campaign store, shop.donaldjtrump.com, the spokeswoman said.
The Canadian company’s decision follows a move by the largest social media platforms to freeze Trump’s accounts for the first time. Facebook Inc. said it was extending a ban on the president’s posts on Facebook and Instagram “indefinitely” and for at least two weeks, until Joe Biden is inaugurated. Snap Inc. and Twitter Inc. have also suspended Trump’s accounts ....

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