One Year Since Launching, Here's What Shopify's Fulfillment Network Means for its Stock
It's been a little over a year since Shopify (NYSE: SHOP) announced a $1 billion investment to create a smart fulfillment network in the U.S. This move was intended to deepen the breadth of merchant offerings and provide even more services for its customers.
Let's look at what's happened since this Canadian multinational e-commerce platform announced its massive investment, and what it means for the stock going forward.
In June 2019, the company announced a comprehensive plan to build a network of fulfillment centers backed by its smart e-commerce operating system with an easy on-ramp for customers, called Shopify Fulfillment Network (SFN). The SFN was met with enthusiasm from customers and partners, and thousands of merchants signed on to be part of the early access program beta phase. The plan was to ramp up over four years and scale into profitability by 2023.
Source Fool.com
