Report: Microsoft mulls taking on Shopify
Microsoft is reportedly considering a new e-commerce platform that would directly compete with Shopify.
According to The Information, a senior Microsoft executive has publicly admitted the tech giant sees an opening in the e-commerce market for a new platform supporting online sales by larger companies. Shelley Bransten, corporate VP of retail and consumer goods for Microsoft, said in an interview with The Information that its customers are asking for software to manage e-commerce sales.
Shopify’s e-commerce platform enables merchants and brands to design, set up, and manage their stores across multiple sales channels. The company’s software powers the e-commerce sites of many leading retailers and brands. Shopify, which is already facing new competition from the Checkout on Instagram feature, saw its stock value drop about 2% at close of trading on April 2. Microsoft’s stock value climbed fractionally.
Shopify declined to comment on the report. Bransten would not say whether Microsoft has also considered attempting to purchase Shopify.
According to The Information, a senior Microsoft executive has publicly admitted the tech giant sees an opening in the e-commerce market for a new platform supporting online sales by larger companies. Shelley Bransten, corporate VP of retail and consumer goods for Microsoft, said in an interview with The Information that its customers are asking for software to manage e-commerce sales.
Shopify’s e-commerce platform enables merchants and brands to design, set up, and manage their stores across multiple sales channels. The company’s software powers the e-commerce sites of many leading retailers and brands. Shopify, which is already facing new competition from the Checkout on Instagram feature, saw its stock value drop about 2% at close of trading on April 2. Microsoft’s stock value climbed fractionally.
Shopify declined to comment on the report. Bransten would not say whether Microsoft has also considered attempting to purchase Shopify.