Shopify Raises $15 Million in Series B Funding(shopify.com)
shopify.com
Shopify Raises $15 Million in Series B Funding
http://www.shopify.com/blog/4344032-shopify-raises-15-million-in-series-b-funding
8 comments
I think the bigger news for hackers is that they are announcing Shopify Fund - http://shopify.com/fund. They're calling developers to build apps for Shopify platform and want to compensate between 5K-10K. Definitely a great idea to get that initial funding if you've an app idea around eCommerce platform.
It looks like a 5-10k advance. Anybody know how this advance works?
I like Shopify, but they are going to be feeling a lot of competitive pressure from Magento Go SaaS offering, which is still in its infancy but has the full weight of eBay behind it and provides a migration to "regular" Magento if the store requires a lot of customization. The 15MM funding should also help with acquisitions of smaller companies to fill gaps in their offering (in addition to the Shopify fund of course)
Having the full weight of Ebay behind you can be a helper or a hindrance. Ebay's acquisition record is spotty. It's only other similar acquisition was Kurant StoreSense which didn't end up impacting many competitors.
Should be interesting to see where Shopify goes from here. I've started several clients on Shopify but eventually had to move them to Magento as they needed more features.
Congratulations to Tobi and all the Shopify crew!
Congrats Tobi!
Probably could have made that in a month selling shopify themes.
I kid, congrats!
I kid, congrats!