Shopify Capital surpassed the one billion dollar milestone in cumulative capital advanced since its launch in April 2016, with $1.05 billion advanced through first quarter 2020, approximately $192 million of which was outstanding on March 31, 2020. Estimates have had wide ranges due to economic uncertainty. This is by far the largest filing of this type Shopify has made to date. "Shopify said in its earnings release that the ongoing effect of the Covid-19 pandemic has accelerated the shift of consumer purchasing habits to e-commerce. See you at the top! New stores created on Shopify grew 71% in the second quarter compared to the first quarter while gross merchandise volume popped 119% year over year.The company had already turned heads on Wall Street prior to its blockbuster earnings report.Goldman Sachs, which up until Tuesday had rated the Ottawa-based stock at "neutral," "With a unique customer acquisition funnel that has not only found unmatched success in SMB but increasingly the enterprise segment as well, we believe SHOP should be able to sustain hyper-growth for longer than the market expects," Goldman's Christopher Merwin wrote on Tuesday.Got a confidential news tip? Cumulative Growth of a $10,000 Investment in Stock AdvisorOn the Eve of Earnings, Shopify Files for Massive $7.5 Billion Capital Raise @themotleyfool #stocks $AMZN $STMP $SHOP The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Data is a real-time snapshot *Data is delayed at least 15 minutes. Shopify’s Q2 growth reached its highest level since before the company’s IPO in 2015. Shopify Capital has grown to approximately $1.2 billion in cumulative capital advanced since its launch in April 2016, with approximately $166 million of which was outstanding on June 30, 2020. On the Eve of Earnings, Shopify Files for Massive $7.5 Billion Capital Raise This will no doubt fuel speculation about a potential acquisition. About Us Daniel W. Vena, CPA, CGMA is a long-term investor searching for intangibles that provide explosive growth opportunities in his investments. Shopify was expected to report second quarter sales of $513.8 million with non-GAAP earnings of a penny a share. Transcribe Your Own Content Shopify shares, which investors have bought en masse amid the Covid-19 pandemic, have rallied more than 100% over the last six months as consumer and business owners shift commerce online to slow the spread of the disease.Shares rose 7.2% in premarket trading following the results, further extending Shopify's lead over Royal Bank of Canada as the country's largest company by market value.That uptick in demand for e-commerce platforms accrued to Shopify in the second quarter. Retirement Under the terms of the agreement, which has been approved by 6 River Systems’ stockholders, Shopify will acquire all of 6 River Systems’ outstanding securities in a transaction valued at approximately USD$450 million, consisting of approximately 60% in cash and 40% in Shopify Class A Subordinate Voting Shares. Read the full earnings conference call transcript here. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Approximately 30,300 partners referred a merchant to Shopify over the past 12 months.
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