SHOP - 25 Million Reasons 2024 Is an Important Year for Shopify
2024-01-29 09:30:00 ET
On Dec. 5, Shopify (NYSE: SHOP) Chief Operating Officer Kaz Nejatian took the stage for the company's investor-day presentation. He noted how the company had worked hard for years to develop software tools to boost growth for its estimated 1.75 million merchants. But in the third quarter of 2022, it used these tools to stimulate growth for itself.
According to Nejatian, the strategy worked phenomenally.
This might come as a shock to anyone who follows Shopify. After all, the company's revenue growth rate has plunged in recent years. And some of its recent revenue gains are related to price increases, not necessarily the implementation of growth initiatives.
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25 Million Reasons 2024 Is an Important Year for Shopify