January 3, 2014
On 13th December 2013, Shopify announced that it had closed $100 Mn in a new round of funding and the company was valued at $1 Billion. Today, Shopify introduced a revamped version of their iOS app called Shopify Mobile, which enables offline as well as online merchants to manage their stores more efficiently via smartphone.
Shopify was founded in 2006 by Tobias lutke (CEO), Daniel Weinand and Scott lake. The company has received $22 Mn in Series A and B funding from Bessemer venture Partners, FirstMark Capital, Felicis venture and Georgian Partners. The new round of funding brings its total to $122 Mn. Currently more than 80,000 retailers in over 100 different countries operate on Shopify’s platform. Some of them are Gatorade, Tesla Motors, Forbes, Encyclopedia Britannica, Amnesty International, and CrossFit among others.
This video gives you an overview of Shopify's latest offering - Shopify Mobile:
About Shopify Mobile:
Shopify’s traction has increased tremendously over the last year. The company stated that $63.6 Mn transactions had been made through its online stores during Cyber Monday 2013, as compared to $23.8 Mn in 2012. Shopify tried to place a foothold in offline commerce last year with the introduction of Popify and a POS system that works on iPad. The company looks to become a starting point for merchants to establish businesses offline and online. Shopify Mobile marks another move in this direction.
On November 9th 2013, Shopify had announced that it would add the virtual currency Bitcoin as an option of payment for its merchants. Shops that have Bitpay enabled will be able to accept Bitcoin payments from customers. Bitpay processes the payment in the background and converts it to the sellers local currency. The transaction fees are said to be much lower than traditional payment gateways.