Shopify app creators are cashing out with million-dollar deals as Shopify app aggregators look for acquisitions
Summary
The acquisition interest comes as Shopify has added many thousands of merchants during the pandemic, and app developers have rushed to launch new tech to cater to their needs. WeCommerces Persson said the robust ecosystem was a big part of what set Shopify apart from competing e-commerce platforms — and why it saw a lot of opportunity there. Hegstad didnt found OrderBump but bought it in October after selling an app he cofounded, called LiveRecover, to a private-equity firm for an eight-figure sum earlier in 2021. Companies like Thrasio raised hundreds of millions of dollars in the past couple of years with the goal of rolling up Amazon sellers and using economies of scale to boost their sales. Meanwhile, Shopify-seller rollups still seem appetizing to investors: OpenStore has also raised more than $100 million to quickly acquire Shopify stores using a proprietary pricing algorithm.
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