Canadian software company that helped Kylie Jenner reportedly make almost a billion dollars
Social media star Kylie Jenner made headlines in July after Forbes magazine reported she was on track to become the youngest-ever self-made billionaire. Her company, Kylie Cosmetics, which is less than 2 years old, is already worth about $800 million, Forbes wrote.
Jenner doesn’t employ hundreds of people or dish out insane sums of money for physical retail space. Instead, she uses the Canadian e-commerce platform Shopify to manage her business and host her website. Shopify, which is also used by companies like Tesla, Nestle and Budweiser, is a software as a service e-commerce platform — so businesses are provided with unlimited bandwidth and don’t need to hire a web developer.
Below is the link for the video. Kylie only employ 5 full time and 7 part time employees. In 2017, she sold $330 million makeups, paid $975k ($480k yearly subscription fee and 0.15% of sales) to SHOP which is only about 0.3% sales. For 0.3% of sales, Shopify did all those complicated works. By the way, total GMV grew from $7.7 billion in 2015 to $26.3 billion in 2017. About half the sale from small business. Looks like Shopify’s future is very bright.
https://www.cnbc.com/2018/08/30/shopify-canadian-ecommerce-k…