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by rublev 10y ago

barkingcat 10y ago
nobody buys at the same rate as black friday all year round. doesn't extrapolate to the entire year.
xal 10y ago
We 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 ago
  That 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 ago
    forgive my ignorance but in this context what does ISO stand for?
    - moyta 10y ago
      Independent 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 ago
        Really? Stripe doesn't have big volume? That seems... surprising
        user5994461 10y ago
        Not 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 ago
        Actually, 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 ago
    There are 2-4 employee companies processing $1B+ per month? Source please.
    - leesalminen 10y ago
      No 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 ago
    Moyta: 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 ago
  I 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 ago
    Fashion? 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 ago
      THIS, even rails is not cool anymore. It just fucking works
    - FullMtlAlcoholc 10y ago
      It'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 ago
      Except Rails took off with the same fashion and hype and hipsterism. It's just older.

by rublev 10y ago

nobody buys at the same rate as black friday all year round. doesn't extrapolate to the entire year.

xal 10y ago

We 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 ago
That 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 ago
  forgive my ignorance but in this context what does ISO stand for?
  - moyta 10y ago
    Independent 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 ago
      Really? Stripe doesn't have big volume? That seems... surprising
      - user5994461 10y ago
        Not 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 ago
        Actually, 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 ago
  There are 2-4 employee companies processing $1B+ per month? Source please.
  - leesalminen 10y ago
    No 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 ago
  Moyta: 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 ago
I 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 ago
  Fashion? 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 ago
    THIS, even rails is not cool anymore. It just fucking works
  - FullMtlAlcoholc 10y ago
    It'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 ago
    Except Rails took off with the same fashion and hype and hipsterism. It's just older.