Shopify Is Selling Its Logistics Business to Double Down on E-Commerce -- What Does This Mean for Its Thesis?
On May 5, 2022, e-commerce platform (NYSE: SHOP) announced that it was acquiring logistics company Deliverr in a $2.1 billion transaction, which was completed in July. On May 4, 2023, Shopify announced it was getting rid of its logistics business in an abrupt about-face.
Logistics was consequential to a Shopify investment thesis due to the amount of money it had invested. In light of today's announcements, investors should revisit Shopify's investment thesis yet again.
Shopify reported financial results for the first quarter of 2023 today, showing year-over-year revenue growth of 25%. That growth was far better than what management had guided for and more than analysts expected.
Source Fool.com
Shopify Inc Stock
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