# Shopify is still on my radar, but... **URL:** \ **Category:** Saul’s Investing Discussions\ **Created:** [July 29, 2022, 2:14am UTC](https://discussion.fool.com/t/shopify-is-still-on-my-radar-but/73135 "2022-07-29T02:14:53Z")\ **Posts on this page:** 2\ **Page:** 1
**Author:** ![EdGrey](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/edgrey/32/3309_2.png) [@EdGrey](https://discussion.fool.com/u/EdGrey)\ **Post date:** [July 29, 2022, 2:14am UTC](https://discussion.fool.com/t/shopify-is-still-on-my-radar-but/73135/1 "2022-07-29T02:14:53Z")
They had bet on more growth than there turned out to be for now, and recently ended up laying off 10% of their employees. This is the July 26 letter from founder and CEO Tobi Lütke to everyone working at Shopify: [https://news.shopify.com/changes-to-shopifys-team#](https://news.shopify.com/changes-to-shopifys-team#) “What we see now is the mix reverting to roughly where pre-Covid data would have suggested it should be at this point. Still growing steadily, but it wasn’t a meaningful 5-year leap ahead. Our market share in ecommerce is a lot higher than it is in retail, so this matters. Ultimately, placing this bet was my call to make and I got this wrong. Now, we have to adjust. As a consequence, we have to say goodbye to some of you today and I’m deeply sorry for that.” ---
**Author:** ![pauleckler](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/pauleckler/32/2906_2.png) [@pauleckler](https://discussion.fool.com/u/pauleckler)\ **Post date:** [July 29, 2022, 2:06pm UTC](https://discussion.fool.com/t/shopify-is-still-on-my-radar-but/73135/2 "2022-07-29T14:06:07Z")
In previous quarter the biggest chunk of their loss was mark to market of their stock investments. Operating numbers look ok. They over invested in growth and now trim some excesses.