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They're up to $274k/minute. That's $16.5 million/hour. I wonder how Cyber Monday will do compared to Black Friday.
by MichaelApproved 10y ago
They're up to $274k/minute. That's $16.5 million/hour. I wonder how Cyber Monday will do compared to Black Friday.
- rublev 10y ago.
- barkingcat 10y agonobody buys at the same rate as black friday all year round. doesn't extrapolate to the entire year.
- xal 10y agoWe are a public company, no guessing required. Here is the relevant press release and quote: > Gross Merchandise Volume (“GMV”) for the third quarter was $3.8 billion, an increase of 100% over the third quarter of 2015. GMV processed through Shopify Payments grew to $1.5 billion, which accounted for 39% of GMV processed in the quarter. https://press.shopify.com/releases/shopify-announces-third-quarter-2016-financial-results https://press.shopify.com/releases/shopify-announces-third-q...
- moyta 10y agoThat is really low, for context a teeny tiny ISO does $1 billion in processing volume a month, so your comparable to one of the hundreds of 2 to 4 employee ISOs out there.
- kennywinker 10y agoforgive my ignorance but in this context what does ISO stand for?
- moyta 10y agoIndependent Sales Organization [1], Shopify for example is partnered with Stripe who is an ISO. Neither push big volume so their platform costs are much higher than their competitors. [1] - https://en.wikipedia.org/wiki/Merchant_account https://en.wikipedia.org/wiki/Merchant_account
- arcticfox 10y agoReally? Stripe doesn't have big volume? That seems... surprising
- user5994461 10y agoNot at all. It only depends on your definition of big volume. Source: By some metrics my company is > 1% of Adyen... or Stripe... or whatever competitor we decide to use at the moment. If a single company can be as much as 1% of an entire payment provider, they gotta be quite small, right? Well, that's what I think every day when I see news about them :D
- user5994461 10y agoActually, I gotta retract from my other comment. It seems that both Adyen and Brainsomething processed over 50B last year whereas Stripe didn't. Stripe didn't publish numbers (I'd dare saying because they are very small and that would scare big companies away), but the valuation at 5 Billion dollars indicates that they are less than 1/10th of the aforementioned providers. Conclusion: Stripe = The hype underdog with strong marketing :D
- GordonS 10y agoThere are 2-4 employee companies processing $1B+ per month? Source please.
- leesalminen 10y agoNo written source to provide, but I know of a 2 person shop that provides merchant services (ISO) processing ~$400MM/month. Not $1B, but is certainly possible I suppose.
- qwrusz 10y agoMoyta: Where did you get that $1B per month figure? That seems very very high. Cheers to the CEO of Shopify answering a question on Hacker News and on Black Friday - that is awesome!
- rvdm 10y agoI appreciate that Shopify took a slightly more conservative approach to growth resulting in less feast / famine. Their RoR stack might have gone out of fashion but it seems like they consistently made the right decisions considering a lot of their customers rely on the Shopify platform for their livelihoods and not just to express their opinions in 140 characters.
- ericb 10y agoFashion? Fashion is a terrible way to make a technical decision. I'll take a Rails stack over the JS framework(s) of the millisecond any day.
- kimshibal 10y agoTHIS, even rails is not cool anymore. It just fucking works
- FullMtlAlcoholc 10y agoIt's not terrible. It is an important factor when considering the pool of devs that know said technology. It's the reason why I've chosen PHP for some projects in spite of my abject hatred for it (for purely aesthetic reasons mind you.)...lots of devs are very familiar with C-like languages.
- curried_haskell 10y agoExcept Rails took off with the same fashion and hype and hipsterism. It's just older.
- pfarnsworth 10y agoCyber Monday is a myth. The highest shopping day online is about 2 weeks before Christmas, usually corresponding to ensuring shipping arrives before Christmas.
- MichaelApproved 10y agoStill worth comparing. And now, I wonder what they'll pull about 2 weeks before Christmas. I'd be great to see a chart with this data. I wonder if they'll release it or if someone is writing a script to scrape their data.
- inuhj 10y agoCyber Monday was(sold it) the highest single day revenue my e-commerce had every year since 2011.
- PaulRobinson 10y agoI work in retail e-commerce in the UK. Sorry, but you're just outright wrong. Cyber Monday has set sales records every year for 3-4 years in a row. Why? It's often been on, or very near, the last payday before Christmas for people on monthly salaries.
- deelowe 10y agoUhh what? Do you have any data to back up this claim?
- tehwebguy 10y agoAt my old company BF always set a new record. Then CM would beat that. Then almost every day over the next 2 weeks would beat that.
- GFK_of_xmaspast 10y agoThey used to say Black Friday was a myth too but you talk about a thing often enough and sometimes it comes true.