Layoff 2023 || Shopify || Cloud-based, commerce platform designed for small and medium businesses.??

Shopify to reduce workforce by 20%, sells logistics business to Flexport for 13% equity.

Company Profile:-

Founded:- 2004
Location:- Ottawa, Ontario, Canada
Total Funding:- $122.3M
Company Stage:- Public
Website:- www.shopify.com

NEWS Source:- https://www.cbc.ca/news/business/shopify-layoffs-1.6831842

Shopify is a Canadian e-commerce company founded in 2006 by Tobias Lütke, Daniel Weinand, and Scott Lake. The company is headquartered in Ottawa, Canada, and has additional offices in Toronto, Montreal, Vancouver, Waterloo, San Francisco, New York, and other locations around the world.

Shopify's platform enables entrepreneurs and businesses of all sizes to create and run online stores and sell their products and services. The company offers a range of features and services, including website design and customization, inventory management, payment processing, shipping and fulfillment, marketing, and analytics. The platform also includes a large marketplace of apps and integrations that allow merchants to extend the functionality of their stores.

Shopify's mission is to make commerce better for everyone by providing easy-to-use tools and services that enable anyone to start, run, and grow a successful online business. The company has a strong focus on innovation and has been at the forefront of many e-commerce trends, such as mobile commerce, social commerce, and multichannel selling.

As of 2021, Shopify powers over 1.7 million businesses in more than 175 countries around the world and has processed over $307 billion in gross merchandise volume since its inception. The company is publicly traded on the Toronto and New York stock exchanges under the ticker symbols "SHOP" and "SHOPIFY," respectively. Shopify has also been recognized as one of the top employers in Canada and has received numerous awards for its workplace culture and diversity initiatives.

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