Shopify Just Threw a Big Lifeline to Meta Platforms and Alphabet
In early 2021, Apple turned the digital advertising world on its head. With a change to iOS 14, iPhone users were notified when an app wished to track their activities and were required to opt in to allow it to continue. This put a multibillion-dollar dent in the online advertising last year, disrupting companies including Alphabet's (NASDAQ: GOOGL) (NASDAQ: GOOG) Google and Facebook parent Meta Platforms (NASDAQ: META), which rely exclusively on targeted ads for the lion's share of their revenue.
Now, an unlikely alliance with Shopify (NYSE: SHOP) is seeking to restore some of the status quo while providing the software-as-a-service (SaaS) company with a potentially lucrative growth engine.
Image source: Getty Images.
Source Fool.com
