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#747 Quiet Crypto, The Demand Question, and Difficult Decisions ft. Jordan Gal
Tropical MBA: Entrepreneurship & Founder Lifestyle
The Power of Payment Processing in E-Commerce
Providing a feature-rich checkout system that made customers spend more money, a small company was processing a significant amount of money annually, challenging Shopify's dominance in e-commerce payments. Even though Shopify primarily functions as a checkout company with a strong app ecosystem, their main revenue source is payment processing. This revenue has consistently increased, comprising 76% in the latest filing. When the small company's success threatened Shopify's business model, communication turned hostile. Despite the intense competition, Shopify has built a highly successful ecosystem, particularly the Shopify App Store, making it a prime platform for starting a bootstrap company.
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