The e-commerce industry has been an enormous tailwind that has led to the creation of some of the biggest companies like Amazon, Shopify, and Mercadolibre. It's determined to grab as much market share as possible by signing new companies and brands every quarter, growing its business with existing customers, and partnering with Shopify to accelerate its expansion plan.
Shopify (SHOP) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
E-commerce company Shopify (SHOP) has invested in Faire, a fast-growing online wholesale marketplace valued at $12.4 billion. Faire connects independent retailers with thousands of emerging brands to purchase products. Faire Co-founder and CEO Max Rhodes called Shopify's investment an "incredible endorsement" of his company's position in the digital wholesale space. This partnership will allow for Shopify's consumer base to gain familiarity with Faire's platform as well, helping to grow their community. "We are incredibly excited about this partnership," Rhodes tells Yahoo Finance adding, "Shopify is a company that we've always looked up to and them viewing us as the leader in the wholesale space and recommending us to their merchants is really a testament to the fact that, you know, what we've built is something really enduring." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.