Shopify goes to Europe

Article Excerpt

SHOPIFY $181.01 (Toronto symbol SHOP; TSINetwork Rating: Extra Risk) (613-241-2828; www.shopify.ca; Shares outstanding: 106.4 million; Market cap: $18.5 billion; No dividends paid) has bought Swedish e-commerce start-up company Tictail. Neither company has yet disclosed the purchase price. Like Shopify, Tictail aims to bring trendy products to the marketplace by helping businesses create an online presence. The Europe-based firm offers a marketplace that lets users shop for clothing, home decor and art. Small businesses around the world use Tictail’s e-commerce software to run their online stores. The startup has raised almost 29 million euros ($43.6 million Cdn.) in funding over the last few years. The Tictail acquisition comes as Shopify looks overseas for growth and attempts to add more merchant clients outside North America. Shopify is a hold. hold…

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