Ben McConaghy

👨🏻‍💻 Comms @OpenAI

[Ben McConaghy @benmcconaghy]

this quarter ripped

[Harley Finkelstein @harleyf]

Q2 is in, and it was a monster quarter.

→ $116B in merchant sales, up 32% YoY
→ $3.6B revenue, up 34% YoY
→ $654M free cash flow, 18% margin

Five quarters running, GMV has grown more than 30%.

The bigger story is underneath the numbers: every shift AI is creating happens to play to @Shopify's strengths.

[Harley Finkelstein @harleyf]

Nobody talks about founder tenure. They should.
Founder skill compounds.

20+ years in: DJ → T-Shirts → Shopify
Different businesses. Same builder.

Each rep stacks. You get sharper. Faster. Better.

Entrepreneurship isn’t a gamble. It’s compound interest.

Stay in the game.

[Alexandra Clark @Clark_al]

The most powerful safety net is the ability to create your own income. The NO BOSS Act removes barriers so more people can turn an idea into a business when they need it most. Practical, bipartisan, and pro-small business.
Proud to support this and great leadership by @RepMikeCarey & @RepGregLandsman

[tobi lutke @tobi]

Shopify is building the foundation for agentic commerce.

Universal Commerce Protocol, which we co-developed with Google, is now live. UCP will make it faster for agents and retailers to integrate.

It’s open by default, so platforms and agents can use UCP to start transacting with any merchant. Major retailers are already using it.

Agents can handle everything from discovery to fulfillment, and support things like discounts, subscriptions, and loyalty programs. We’ve accounted for all types of commerce.

[tobi lutke @tobi]

Shopify: The RenAIssance Edition

Sidekick updates, Agentic Storefronts for merchants, new tools for devs building commerce agents, AI simulations, and more 🧵

[Jessica Hertz @jessicarhertz]

The U.S. Federal Circuit just threw out a $40M verdict from serial patent troll, Express Mobile. They wanted a quick settlement.
We gave them a fight, and won.

[Jessica Hertz @jessicarhertz]

@Shopify merchants hit a record $14.6B in sales this weekend, up 27%.

What that actually means: 15,800+ people made their first sale and became entrepreneurs, 94,900+ merchants had their best day ever, and 81M people chose to buy from independent brands on Shopify.

Congrats to all our merchants.

[Ben McConaghy @benmcconaghy]

RT @jessicarhertz: Black Friday scoreboard: @Shopify merchants hit a new record of $6.2B in sales (up 25% YoY; 22% constant currency), peak…

[tobi lutke @tobi]

Shopify merchants will be able to sell directly in ChatGPT.

We’ve been working with @OpenAI for quite some time so people can search and buy products in chat, and it’s something we’ve had a hard time keeping quiet.

Rollout is coming very very soon.

[Ben McConaghy @benmcconaghy]

We never settle. There’s always a new frontier and we get there first. That’s why the world's best brands call us and why we set the pace for everyone else.

[Harley Finkelstein @harleyf]

Just wrapped our Q2 earnings call and we delivered once again.

GMV up 31% to $87.8B. Revenue up 31% to $2.7B. Free cash flow margin was 16%.

But as you know, my favourite part of these calls is talking about how the biggest brands continue to come to Shopify! A big welcome to @CanadaGoose, @Starbucks and @burtonsnowboard.

Consistency, follow through, durable growth. That’s Shopify’s MO. And now back to building.

[Harley Finkelstein @harleyf]

Black Friday has finally arrived - this is the biggest weekend in retail for brands of all sizes. We built the Shopify Live Globe so you can watch commerce happen live, in real-time, around the world.

Every firework shows when a brand new entrepreneur gets their first sale on @Shopify - five years from now these could be the biggest brands in the world.

A new golden age of retail is here, and it’s happening on @Shopify.

[Shopify @Shopify]

the main character of Black Friday weekend: entrepreneurs

[Harley Finkelstein @harleyf]

Just jumped off the @Shopify Q3 Earnings call. If you missed it, I'll summarize: Q3 was an incredible quarter for Shopify.

Here are the highlights of Q3 2024 @Shopify:
1️⃣​ Financially, it was a strong quarter.

🚀​ GMV was up 24% Year over Year in Q3 - the 5th consecutive quarter where GMV growth was more than 20%

🚀​ Revenue accelerated to 26% - the 6th consecutive quarter where Shopify delivered 25% or greater top-line growth, excluding logistics

🚀​ Gross profit grew 24% Year over Year

🚀​ Our Free Cash Flow Margin expanded to 19% which means we’re delivering profitability that allows us to both grow the business and invest in the future of commerce.

2️⃣​ We’ve built the most integrated platform on the planet where everything in your business works together really really well.

⚡​ Shopify POS is powering more and more large, complex, multi-location merchants like legendary Canadian women's fashion retailer, Laura, which migrated over 130 stores to Shopify’s POS in Q3.

⚡​ We are making every part of commerce work better. This quarter we helped merchants make in-person shopping truly delightful by expanding Tap to Pay in more countries.

⚡​ And, we’re making it easier for our merchants to sell in new countries with our Managed Markets product, which has helped some merchants see an average global sales increase of 40%.

The power of our platform is unmatched.

3️⃣ Shopify is increasingly the go-to platform of choice not just for entrepreneurship, but for all of commerce.

We are making massive strides across our long-term growth drivers like B2B, international, enterprise, and offline commerce.

🚀​ We had our single largest B2B GMV month ever, with it growing over 145% Year over Year. This is a trend at this point, marking 5 consecutive quarters of triple digit B2B GMV growth.

🚀​ International GMV continues to outpace the growth of North America accelerating to more than 30% and our international merchants grew 36% Year over Year.

🚀​ In Q3 alone we had 16 enterprise launches on Shopify, including brands like Hanes and On Running. The best brands like Reebok, and Victoria’s Secret and high fashion brands like FashionPhile and Off-white are all coming to Shopify.

Our mission has always been the same: make commerce better for everyone and, ultimately, create more entrepreneurs across the world and help them grow bigger and faster.

We are doing exactly that. We are focused on helping merchants of all sizes thrive today and in the future. It’s why you see brands come to us and never leave.

Thank you to everyone on the Shopify team, our partners, and our incredible community for an exceptional quarter.

[Ben McConaghy @benmcconaghy]

🎮 @Roblox 🤝 @Shopify 🛍 = 🚀 🔥

[Harley Finkelstein @harleyf]

It’s official: @Shopify is the first commerce integration partner on @Roblox.

Soon, you’ll be able to shop physical products like clothing, accessories and collectables designed by your favourite creators and brands, all within Roblox, and it’s all powered by Shopify.

This means that developers, creators, and brands who are on Shopify, can sell DIRECTLY within their Roblox games.

More spaces to connect with fans means more opportunities to succeed as an entrepreneur, and that is what we are powering at @Shopify.

See you soon on Roblox 🚀

[Harley Finkelstein @harleyf]

Entrepreneurs are the backbone of our economies, on both a local and global scale.

My team shared these stats with me yesterday:

1. Most people are dreaming about being an entrepreneur: 60% of adults around the world want to be their own boss

2. People are acting on their ambition: Globally, 57% of people plan to start a business before the end of 2025. This is my favourite stat. More people trying their hand at entrepreneurship is my love language

3. When people take the leap, they are thriving: In 2023, on average the new businesses on @Shopify made their first sale 10.3% faster than they did 2 years before.

We need more entrepreneurs. And the reality is, there has never been a better time to be an entrepreneur.

Lots of people dream about taking the leap. We need more people to jump.

Act on that idea in the back of your head. Start that business. Do it today.

Happy World Entrepreneurs’ Day.

[Harley Finkelstein @harleyf]

I just jumped off @Shopify’s Q2 2024 Earnings Call. Shopify had a great quarter and we continue to push the envelope of what’s possible in commerce.

ICYMI, here are the highlights of Q2 2024 @Shopify:
1️⃣​ We passed a major milestone: Shopify has officially processed 1 TRILLION dollars in cumulative GMV

2️⃣​ We delivered on the financials:
- Gross Profit in Q2 was $1 billion dollars - up 25% YoY and grew faster than revenue which was $2 billion for the quarter

- Our free cash flow margin more than doubled to 16% from 6% last year

- This is our fourth consecutive quarter of double-digit free cash flow margin

3️⃣ Brands continue to flock to Shopify; Casper, Away luggage, Tonal, Vince Camuto, Ami Paris, Therabody, and legacy brands like QVC and Barnes and Noble all joined Shopify.

⚡​We aren’t just helping brands thrive online, but also offline in physical retail. Our offline business surpassed $100 billion in cumulative GMV. Brands like Mejuri and Evereve launched online and offline with Shopify, and Oak + Fort launched online and rolled out Shopify POS in over 40 locations.

⚡​B2B continues to grow. Shopify had its single largest GMV month ever for our B2B business and B2B grew more than 140% YoY.

We had incredible operational discipline, and we nailed the execution of the plan we laid out. We are so well positioned to power commerce for years to come.

Thank you to everyone on the Shopify team, our partners, and our incredible community for an exceptional quarter🚀

[Kaz Nejatian @nejatian]

Big ideas don't need big cities. We are on a mission to save Main Streets across the world. When small cities die, we all suffer. We will not let that happen.

Countless stories from entrepreneurs prove that we are succeeding. Here are some of them.

https://t.co/Nk4tnB8d23

[tobi lutke @tobi]

Thrilled to welcome @kevin_scott to @Shopify's board of directors.

Kevin is one of the most eminent thinkers in technology. We recently spoke about entrepreneurship, democratizing tech and building teams

[Harley Finkelstein @harleyf]

Our merchants are the real heroes behind all those zeros 💚

[tobi lutke @tobi]

A order on @SaltandSundry just tipped Shopify over the 1 trillion(!) in cumulative GMV.

Monumental milestone for us. A beautiful small business run by Amanda McClemens in DC. Couldn't have been a better example of what makes Shopify special: https://t.co/w1qUo7zuji