shopify who owns

How did you manage to buck the trend here?,What is it that Shopify is doing that everyone else ain't?,Thanks, you have family. We are happy with how things came out.,I think the big thing that the big takeaway is that the role the child,plays playing in the lives of the millions of merchants is just not of a,typical software company. One of the things that I mentioned on,the call quite a bit was this merchant merchant services attach rate and that,is really the amount of services and value that we create for merchants.,I think the big difference here is we're not just the e-commerce provider anymore,or the retail partner for physical retail where their capital partner we've,given up now more than four billion dollars of cash advance in loans for,merchants where the logistics partner and with audiences shopping audiences,,where now their advertising partner in some cases, too.,And so we saw a two point one four percent working solutions at Tatura in,Q3. That's up from one point ninety eight in,Q2. So that was really good on the revenue,side. Revenue came in one point four billion.,That's up 22 percent year on year and on a three year CAC fifty 52 percent.,But I also think what the street investors wanted to see was operating,discipline. And we saw adjusted gross profit of six,hundred and over six hundred eighty million dollars.,That's up 11 percent and a three year CAC of 46 percent.,So when they see that plus year on year declining operating expense growth and 5,billion dollars of cash on the balance sheet, I think they see that Shopify is,a long term durable company. Investors are looking at this as,potentially a sign that Shopify is the worst days are behind it, quote unquote.,It's been a tough year and you've had job cuts.,It's a very tough retail environment. Inflation is weighing on everyone.,Would you agree with that? Is is the worst over?,Look, I think Shopify was this incredible Covid, you know, story, March,20, 20, physical retail shuts down permanently and all these physical,retailers end up moving to needed to move online.,And most did so Shopify. I think what most people missed was that,the trust we built in the Covid period meant that now that stores are reopening,for some stores reopening, they're now using us to to replace their existing,point of sale systems as well. So that's one issue.,The second issue is that, you know, talking about sort of the macro trend of,the consumer, this idea of omni channel. We talked.,I talked to this on your show before. This is now steady state.,The best brands, most modern brands need to sell everywhere online, offline, on,social media, on marketplaces. And doing so with the retail operating,system like Shopify gives them the tools to do so.,So I don't know what's going to happen in terms of the larger economy in the,future. But certainly, you know, September was a,good month it from a consumer spend. It looks like October is pretty good,,too. But our are our our merchants and,millions merchants and shop are getting set up for a good holiday season and we,want to be there to support them on that.,You know, investors were not happy with Amazon's results.,Their holiday forecast was not great. You know, what's what's your read on,that and what it also could bode for Shopify.,I mean, we're certainly dealing with an inflationary economy right now.,There's no doubt about that. What I what I what I think is, is is,certain is that the direct to consumer business model, where brands manufacture,and sell direct to the consumer, where there are no intermediaries, there is,more margin there. There is more room for inflation.,And so I actually think that the direct to consumer model operates better in,this environment than, say, a third party reseller might who's already,operating on razor thin margins. But so far, I mean, you know, you look,at companies just this quarter, glossy, for example, or Spanx, for example, or,Aloe Yoga or VRC, for example, like these these brands on shop are doing,really, really well. And so, you know, we think that,consumers remain strong. But we'll see what the holiday season,comes from. Most important thing, though, is that,we're there to support them no matter what they want to do.,You had me, I have a Harley lover. Great brand buying.,Great show. Let's talk about your logistics and,fulfillment network. Obviously, you've been developing that.,Where does development stand now and what are your ambitions there when it,comes to investing and potential acquisitions?,You know, we've been a lot of progress there.,I mean, the goal is to build an end to end logistics networks.,So from the second year, product is made at the factory to to win.,Your consumer gets it. We want to base.,We want to handle that for for all of our merchants.,The key, though, is that we want to make it so that when you use Shopify,,Shutterfly film a network, we use our logistics product.,You don't have to think about logistics. But the key here is some that I,mentioned the earnings call today. It's called Shop Promise.,This idea that when you use our fulfillment product, you can provide an,anticipated delivery date with certainty to your consumer.,And in early testing of shop promise, we know that consumers will spend more.,They will convert higher when they know when to anticipate it.,So we're not trying to build out what Amazon did decide one day free shipping,thing. What we're trying to do is make it so,that our merchants, one don't have to think about logistics.,It's not a problem for them. We'll take care of it.,And second, that they can provide and anticipate in anticipation of when the,product will get into the hands of consumers.,And we made a lot of progress there. So when, you know, we've disclosed a,partnership that we have with Flex Board on that first face, from factory to,port, from port to fulfillment, we acquired a company called the Liver that,does balancing better than, frankly, anyone on the planet.,And that third phase from the fulfillment center to the end consumer.,That's really where shop life fulfillment and work takes really ramps,up. And we have partners all over the U.S.,right now that are using our software, our robotics technology from Six River,System. And we are creating this this logistics,network and we've get a lot of progress. We'll continue to do so.,But the key really is the shop promise to give everyone every small business,the same tools that, frankly, Amazon has with things like, you know, Amazon,Prime. And we think we can do that.,That said, in person, shopping is back and I can imagine back even bigger this,holiday season. How is Shopify prepared to adapt to,that? And what are you planning for?,Yeah. So if you're correct, it is back.,It is. I mean, it went away obviously during,the pandemic. But, you know, we always believed the,future retail is going to retail everywhere it'll be.,But consumer choice. The consumer may want to buy online or,offline or on Instagram or SNAP or tech talk or, you know, in person.,So those are the tools that we've been building.,What you saw in this past quarter was we saw a 35 percent increase year on year,of GMV on point of sale. At the same time, we're seeing larger,merchants replace their entire point of sale systems with Shopify, whether it's,aloe yoga or it's James Perse, my favorite brand.,But also this quarter alone, more than eight to eight retailers with more than,25 locations replace their existing traditional point of sale system with,Shopify. We actually won Merchant of Rs, who,replaced us in 175 locations. So we really are scaling up around shop.,If I would call point of sale pro to help larger retail for lots of stores,really replace and modernize their their in-store experience.,But the idea is this if you are a consumer and you buy something online,,then you go into a store a week later, they should have the same information.,It's one set of information, one set of customer data, one set of inventory that,this I like the idea of omni channel, I think is going to become a talking about,the color TV in a few years from now. You don't see color TV because every TV,is fundamentally color TV. That's what omni channel will be.,The best retailers that are most successful will be omni channel by,default in the future.

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