This Was Always Shopify's Biggest Mistake
Tech company (NYSE: SHOP) slashed costs drastically over the past several months in an effort to improve its weak bottom line. It laid off staff, and it recently announced that it would be selling its logistics business.
It doesn't come as a huge surprise that the company needs to scale back on expenses. Shopify has often been too aggressive in its growth strategy, and that has hurt its financials. The question for investors is whether the company has learned from this past mistake.
Shopify came into its own by making it easy for people with little to no tech experience to launch their own e-commerce sites and sell products and services online. It was quite successful with this business model. Where the company made its mistake was in becoming too broad and too aggressive with its efforts.
Source Fool.com
