Shopify Revenue Raised in 2018, Here’s Why Should You Invest in Shopify Development

selling products online

Stats tell us that more than 820,000 merchants from 175 countries across the globe have made the choice of picking Shopify for selling products online in 2018.

“Shopify’s revenue for 2018 was $1.1 billion, up 59 percent over 2017. At its current stock price, Shopify’s market valuation is roughly $41 billion.”

Do you know merchant’s count was 600,000 in 2017? Yes, and Shopify doesn’t get much attention. However, small scale businesses know smart ways of doing their business online. One of the smart ways is picking a platform which offers multichannel commerce sales for selling products online.

Shopify allows merchants to upload products, manage products and sell products online through multi sale channels. It inducts Saas system which means a single integration of back-end infrastructure.

How merchants are selling products online over Shopify?

-Selling on Shopify website

-Through buy button

-Online marketplaces such as Amazon, EBay, etc.

-Social media

In all above mentioned cases, Shopify offers a backend infrastructure.

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Shopify Revenue Highlights for 2018

Total revenue for the full year 2018 was $1.1 billion, up 59 percent over 2017. Subscription Solutions revenue grew 50 percent to $465.0 million while Merchant Solutions grew 67 percent to $608.2 million.

Gross merchandise volume for 2018 was $41.1 billion, an increase of 56 percent over 2017.

The net loss for 2018 was $64.6 million compared with $40.0 million for 2017. This is attributable to increased expenses for service offerings.

The number of merchants on the Shopify platform achieving over $1 million in gross merchandise volume grew by 58 percent in 2018.

Merchants selling on the Shopify platform for 12 months or more increased their gross merchandise volume year-over-year at an average monthly rate of 24 percent.

In the fourth quarter, Shopify merchants added nearly 40 million products to their shops.

Shopify opened a brick-and-mortar location in Los Angeles. It showcases Shopify’s products and services and serves as a hub for merchants who seek in-person support and guidance.

Stats: Practical Commerce

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