Full outbreak! Shopify's GMV in 2020 reached US$119.6 billion, an increase of 96%

In 2020, the popularity and discussion of independent websites remained high. As a SaaS service provider, Shopify has also developed extremely rapidly.

On February 17th local time , Shopify released its fourth quarter and full year 2020 financial results . Let’s take a look at Shopify’s performance in 2020!

Shopify's fourth-quarter GMV increased to $41.1 billion

According to financial report data, Shopify's GMV in the fourth quarter reached US$41.1 billion, an increase of US$20.5 billion compared to the fourth quarter of 2019 , achieving a 99% increase.

In addition, Shopify 's total revenue in the fourth quarter was US$977.7 million , a year-on-year increase of 94% , including:

Merchant Solutions revenue reached $698.3 million, up 117%, primarily due to growth in GMV ;

Subscription Solutions revenue was $279.4 million, up 53% year-over-year, primarily due to more merchants joining the platform ;

Monthly recurring revenue ( MRR) was $82.6 million, driven by a continued increase in new merchants joining the platform in the fourth quarter following a record number of new merchants in the third quarter .

Shopify's full-year GMV grew 96%, and total revenue grew 86%

Looking back at the whole year of 2020, Shopify's annual GMV reached US$119.6 billion, a year-on-year increase of 96% .

Shopify's total revenue was US$2.9295 billion, an increase of 86% compared to 2019. Among them, the revenue of subscription solutions reached US$908.8 million, an increase of 41%; the revenue of merchant solutions reached US$2.0207 billion, an increase of 116%.

2020 was an extraordinary year for Shopify. The sudden outbreak of the new coronavirus pandemic accelerated the development of e-commerce, thereby driving the growth of GMV and new merchants on the platform.

2020 was also the year of discovery. The number of consumers who purchased from Shopify merchants grew to nearly 457 million, a 52% increase compared to 2019.

Amazon acquires Shopify competitor Selz

Shopify's achievements in 2020 are obvious to all, and its rapid development has also attracted the attention of Amazon. Foreign media previously reported that Amazon has set up a secret team "Project Santos" to study Shopify.

Just these two days, Amazon completed the acquisition of Australian company Selz, which provides tools to help businesses open their own online stores.

In the headlines of many reports, Selz was described as a "Shopify competitor", and Amazon's acquisition made people guess that Amazon was really going to compete with Shopify...

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