Shopify's CEO says Amazon isn't a competitor, but Amazon's CEO says it is. Here's what experts say the real relationship is.
"I don't think we have any particular insights beyond just fellow travelers in a world of technology," Lutke said.
"I think [Lutke] was being diplomatic," said Tom Forte, an analyst at D.A. Davidson, who asked the question about Amazon during Shopify's earnings call. "I really believe Shopify is a competitor to Amazon, and in some instances, the anti-Amazon." "Shopify's ultimate mission is to enable sellers to compete more effectively with Amazon," Forte said.
, which helps store and ship products on behalf of sellers. That service is in direct competition with Amazon's Fulfilment by Amazon, a key piece of its third-party marketplace that generated $53 billion in sales last year.Amazon is the de facto leader in online retailing, with a market cap of roughly $1.6 trillion. Shopify, with a value of about $125 billion, is much smaller in size, but is starting to catch up.
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