Shopify still a valuable business! It's a success story in a volatile space. So if they want to maximize their growth during good times, it's almost inevitable they'll have to walk back some of the earlier steps they made during fallow times.
So I would put Shopify in a different league altogether than RIM or Nortel... these latest moves in fact may help them avoid the fate of the others.
From what I've seen, they're nowhere near becoming a stodgy old slow-to-change corporation. The people I met last week at RailsConf all seem energetic and innovative, and I second the idea that ecommerce is a tough & crowded market and the fact that they've risen to the top says a lot about the company focus and culture.
I sell online (but on marketplaces, not my own website) so try to follow the space. Shopify is known as the company you go to for quickly setting up an ecommerce storefront. Yes, there are competitors, but Shopify seems to be the brand name in the space. Unlike Apple vis-a-vis Blackberry, there doesn't seem to be great risk of someone coming in with revolutionary technology and immense market reach that upsets the field overnight; we're coming up to 30 years after the release of Netscape, after all.
On May 6th, 2020 Shopify was the most valuable Canadian company. Why Canadian tech is cursed? Nortel, Blackberry, Shopify ...
It's interesting how Canada has exactly one globally prominent tech company, no more, no less; as one falls, the next arises. While having one is certainly better than the average of zero for non-US developed countries, and having each be in a different sector is also good, I suspect that each also benefits/benefited from being the hot tech company that those in Canada join if they didn't/couldn't move to the US. (I've seen others mention Shopify being known for lowballing salaeies.)
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On May 6th, 2020 Shopify was the most valuable Canadian company. Why Canadian tech is cursed? Nortel, Blackberry, Shopify ...
Shopify still a valuable business! It's a success story in a volatile space. So if they want to maximize their growth during good times, it's almost inevitable they'll have to walk back some of the earlier steps they made during fallow times.
So I would put Shopify in a different league altogether than RIM or Nortel... these latest moves in fact may help them avoid the fate of the others.
Yeah, it's valuation got way ahead of itself during the COVID-19 Internet Gold Rush. Huge valuation, lack of focus, is normal.
It's still a great tool.
From what I've seen, they're nowhere near becoming a stodgy old slow-to-change corporation. The people I met last week at RailsConf all seem energetic and innovative, and I second the idea that ecommerce is a tough & crowded market and the fact that they've risen to the top says a lot about the company focus and culture.
I sell online (but on marketplaces, not my own website) so try to follow the space. Shopify is known as the company you go to for quickly setting up an ecommerce storefront. Yes, there are competitors, but Shopify seems to be the brand name in the space. Unlike Apple vis-a-vis Blackberry, there doesn't seem to be great risk of someone coming in with revolutionary technology and immense market reach that upsets the field overnight; we're coming up to 30 years after the release of Netscape, after all.
It's interesting how Canada has exactly one globally prominent tech company, no more, no less; as one falls, the next arises. While having one is certainly better than the average of zero for non-US developed countries, and having each be in a different sector is also good, I suspect that each also benefits/benefited from being the hot tech company that those in Canada join if they didn't/couldn't move to the US. (I've seen others mention Shopify being known for lowballing salaeies.)