The week is coming to an end, it has been an interesting week in the ecommerce industry, a lot has happened for the most popular ecommerce platforms. This week saw Shopify shares soar on first day of trading, Bigcommerce teaming up with PayPal and much more.
Shares in Shopify — Ottawa’s latest tech star — jumped out of the gate Thursday as demand for the stock vastly outstripped the 7.7 million shares made available by the e-commerce firm in its initial public offering. The share price hit $28.74 US in early trading on the New York Stock Exchange — up 69 per cent from the IPO price established by Shopify’s underwriters Wednesday. On the TSX, the firm’s share price briefly topped $35 Cdn. The gains had receded by the close of trading, but were still a very robust 51 per cent over the IPO price. The stock closed at $25.68 US on the NYSE and $31.25 Cdn. a share on the TSX. Read my full Shopify review here.
PayPal's plan to expand its OneTouch instant checkout service has shifted into high gear via an update that will support all merchants using the e-commerce platform Bigcommerce. Bigcommerce's 90,000 merchants will be able to use OneTouch's simpler ID technology, and can also access e-commerce through an integration with Braintree's v.zero software development kit. You can read my full Bigcommerce review here.
Riding on the coattails of Alibaba’s successful IPO in New York last September, Alibaba-invested e-commerce company Baozun from Shanghai raised $110 million in its own IPO and began trading today on NASDAQ but without the fanfare and lift of its lead investor.
Mondelez Bets Big on Ecommerce With Shoppable Ads and ‘Buy Now' Buttons
Mondelez International—the makers of Oreo cookies, Cadbury chocolate and Trident gum, among other treats—quietly started becoming an e-commerce brand with a a small test in Europe earlier this year. Now, Mondelez plans to convert all its digital media in 25 countries into shoppable ads with “buy now” buttons to drive sales through retailers like Walmart and Amazon.
Technology major IBM is looking to bring its supercomputer Watson, which is also working on curing cancer, to help Indian corporates take a leap into the ecommerce business. The move by IBM is a part of its wider push into the ecommerce business globally as marketing dollars spend gets increasingly driven by technology, for which it is also launching some new products in areas like design and analytics. You can check my checklist for new ecommerce owners here.
Feature image curtsey of CashCats