According to Financial Post, Shopify recently declared its acquisition of Tictail- an e-commerce company in Sweden. However, two partners decided to keep the financial terms as a secret.
From the data collected by CrunchBase, the total fund raised by Tictail was $32,6 million. Their profile showed that this acquisition hasn’t been dealt because none of two companies hasn’t announced officially. It was hard to determine the time when this buyout came to the end.
A message sent to all Tictail employees informed the time they could be in development. According to Breakit, it was possible for Tictail’s online retailers to transfer from respective stores to its platform during Apr 1, 2019. In case of the deadline delayed, no official use of the Swedish company’s platform was valid.
This was an obvious evidence of how Shopify deploy strategies to get access to a global market. This was a convenience as the company could benefit from other various merchant bases.
Established in Stockholm, Sweden in 2012, Tictail’s very first function was to supply people with an online market which allowed customers to get to know many products from 80.000 to 125.000 brands.
Shopify is reinforcing its shares in the e-commerce market by its buy-back of some strategic organizations such as Return Magic, Oberle, Tiny Hearts, Boltmade, Kit, … its aim is to broaden its merchant base and promote business in the global market.
The company keeps pursuing acquisitions which are fitted with the company’s business and easy to integrate into a long run.
In the third-quarter 2018, Shopify’s cash, cash equivalents, and marketable securities hit $1,58 billion. Compared to $1.57 billion in the second quarter, the number is quite a balance.
From operations of 67k, Shopify had a financial support for a 9-month period that finished on Sep 30th, 2018 compared with $11,1 million used in the last one. The negative cash flow can be used to boost improvement in merchant cash advances.
Long-term debt has no longer a matter for Shopify, which is a good news. Strong cash state is believed to assist the company with friendly shareholder’s activities as well as continue strategic buyout and invest in products for sustainable development.
Shopify is trying its best to broaden its business by being the friendliest platform in the market. To this issue, neighbor customers are predicted to enhance growth potential and develop competitive vacancy when compared to Wix and other companies.
Also, they are making a great effort to enhance the language availabilities apart from English. One of the ways to elevate international impact is to strengthen local languages. It is believed that we can increase the interaction levels and adoption in the future due to this well-rounded approach.
In the past, Shopify Payments was introduced in Germany and from that on, 11 countries have heard about this name (including the US).
Besides, some international business channels like Google Pay, Facebook Messenger, Instagram, Pinterest, eBay (EBAY – Free Report) and Amazon (AMZN – Free Report) still draw lots of attention from customers. This is because of this serviceability of Apple Pay and Google Pay and Canada Post as well.
Shopify gains the third place in the top of strong buy stocks Zack Rank. 8,4% is the expected figure of long-term growth rate for Intel now.
According to the report last year, the total international turnover was $8 million, and it’s predicted to reach remarkably $47 billion in 2020. The famous investor, Mark Cuban said that it will facilitate “the world’s first trillionaires”. However, only those who invest soon at the right time can make a fortune, Mark also added.