Shopify Made Amazon Look Foolish with Webstores but What's Next?
The amazing Brad Stone published his latest Bloomberg article on Shopify recently and called out a few themes I thought were interesting:
- For the first time I've seen, a price for what Shopify paid for Amazon Webstore refugees is mentioned $1M.
What's not mentioned? Other providers likely had the same opportunity and either got outbid, or declined. Seems like a miss?
- Shopify moved pretty early into remote work and likely has benefited from this from a hiring and recruiting point of view.
- one of the big stories in here is about the back and forth from Shopify on supply chain. Their approach has been muddled to say the least, and I didn't come out of this interview with any confidence that is going to change soon.
- There is some mention that Amazon is coming out with a Stores product -- I've talked in the past about what this would entail, but I think the basic positioning is super-obvious. More tomorrow :)
- My favorite quote in the article was "Shopify made us look like fools." from an Amazon exec. I laughed out loud at this one. Nice catch Brad.
A lot in here I was familiar with but it's nice to see it all in one place.
