Shopify: Growing Revenue with New Services

Good article from Foolish contributor Ben Estep. Especially appreciated this excerpt dealing with how new services, like the recently acquired Kit CRM, is helping the company grow revenues at such accelerated rates:

Last quarter, Shopify acquired Kit CRM, a virtual marketing assistant that leverages messaging to help businesses market their online stores, for an undisclosed price. The virtual marketing assistant helps merchants manage marketing tasks, including running targeted ad campaigns on Facebook and sending thank you emails to customers. Kit CRM costs $10 to $25 per month, and is just one example of an add-on Shopify markets to merchants to help boost its monthly recurring revenue.

If Shopify continues developing additional features and tools, the company should be able to convert more merchants into higher tiers of its e-commerce platform and convince them to purchase additional tools like Kit CRM.

There’s more good stuff in the article, like its new partnership with Amazon, so be sure to read the whole thing at http://www.fool.com/investing/2016/10/02/shopify-inc-keeps-g…

Matt
Long AMZN, FB…No position in SHOP (yet)
MasterCard (MA), PayPal (PYPL), and Verizon (VZ) Ticker Guide
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