Shopify's (NYSE:SHOP) platform gives pretty much anyone a chance to start an online business and run it, with end-to-end management right from inventory to payments to sales channels. Shopify wants to make it easy to build and manage an online store. As simple as it sounds, it's a really powerful concept that strives to empower people, entrepreneurs, and small businesses in particular, which is where the company's growth potential lies, especially in a world that's increasingly going digital in the wake of the COVID-19 pandemic.
Shopify's revenue crossed the $1 bil mark for the first time in a quarter, and its gross merchandise volumes hit an astounding $42.2 billion. Importantly, the company also turned a net profit of $879.1 million in Q2. Shopify's popularity in the U.S. is already growing rapidly, and it's only a matter of time before the company establishes itself as a major e-commerce player in international markets. Shopify Markets, a hub that allows merchants to sell globally, is just one of the many moves Shopify is making to grow internationally.
The best part is that Shopify is already profitable and has a solid balance sheet, with low debt and high cash, which is unheard of in growth companies especially in an industry like e-commerce. It's also a founder-led company, and that improves the chances of Shopify succeeding in the long run manifold. Eventually, Shopify's success will be every shareholder's success.
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