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 800,000 businesses in approximately 175 countries using its platform as of December 31, 2018.
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.
Handshake has made its mission to help manufacturers & distributors expand their business. This is by making it easy for customers to directly order products from stores online or in-person, anywhere and at anytime.
This acquisition by Shopify underscores how it’s expanding to a way that puts it into closer competition with the likes of Amazon and Alibaba.
Shopify is targeting the area of the e-commerce market where brands and other merchants sell items wholesale.
It has been disclosed the value of the deal to $100 million.
For more information visit : Shopify buys handshake to boost b2b commerce tools.