Reports say the companies have generally kept quiet about the deal, but eCommerce platform Shopify has officially confirmed its acquisition of B2B eCommerce portal Handshake. Another source revealed that Shopify first announced the takeover internally to its employees earlier this month. Soon after, the company launched its mobile B2B eCommerce service, enabling vendors to connect to potential buyers via mobile device. Most recently, the company struck a collaboration with payments company Square. That deal, announced last year, included Square powering B2B payments on the Handshake platform in an integration available through the Square App Marketplace. While Shopify operates a wholesale B2B platform, the company's most recent investments have gone toward sellers on its platform in the B2C commerce space.
How This Could Change Shopify
Shopify has silently made an acquisition of Handshake to continue its expansion of the services and products that merchants can sell and purchase through its platform. Shopify is a Canadian e-commerce platform for retail point-of-sale systems and online stores. Shopify offers online retailers services including marketing, payments, customer engagement tools and shipping to simplify the process of running an online store for small merchants. The company gave a report that stated it had more than , businesses in approximately countries using its platform as of December 31, Handshake is a B2B eCommerce platform which brings manufacturers as well as distributors closer to their customers. This might be both in person and online. This is by making it easy for customers to directly order products from stores online or in-person, anywhere and at anytime. Shopify is targeting the area of the e-commerce market where brands and other merchants sell items wholesale. Dedicated writer with a strong track record of developing customer loyalty and managing general office operations.
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Published on May 24, The rumors of Shopify acquiring Handshake has finally settled down. Handshake, an e-commerce platform for Business-to-Business has been discreetly acquired by Shopify. We consider acquisitions in the normal course of business as we focus on making commerce better for everyone. Interestingly, Handshake is the B2B New York-based e-commerce startup that brings manufacturers and distributors closer to their customers. As per the tip received by TechCrunch in an email, the words of acquisition by Shopify were already spread in the company earlier this month. This deal comes at an interesting time for Shopify. Shopify is now targetting what Handshake was doing all over the past years - the area of e-commerce market where merchants and brands can sell wholesale items simultaneously working on the retail business that is focused on customers. With the latest acquisition deal by Shopify, it showed its intentions of competing with the giants like Amazon and Alibaba that also came from the B2B marketplaces.
Joe Bachir. May 28th, min read. Handshake , and now Shopify, is targeting the area of the e-commerce market where brands and other merchants sell items wholesale, potentially alongside consumer-focused retail efforts. While Shopify is a well-established e-commerce platform, B2B and wholesale purchasing are areas where Shopify can expand.