Shopify after cutting 10% of its workforce – about 1000 employees last month. The company is making strategic investment moves in the tech space by investing $100 million in Klaviyo, an e-commerce marketing automation platform.
Klaviyo and Shopify will strengthen their existing partnership by making Klaviyo the recommended email product for Shopify’s premium merchant plan, Shopify Plus while granting Klaviyo early access to in-development Shopify features.
Klaviyo Chief Executive Officer [CEO] Andrew Bialecki told TechCrunch that the company: “We’ve been working closely with Shopify for years and this is a great next step.”
“I’ve talked with their product team and CEO many times — they’re big believers in our mission of empowering creators and they have a lot of respect for the products we’ve built and our customer first, product led culture.
“Shopify’s been key to our growth and a great team to work with and we’re excited that this will help us go faster in helping more of their customers.”
Earlier this year Shopify bought Deliverr, a logistic startup for $2.1 billion. Last week the company reported a net loss of $2.1 billion for the second quarter of 2022.
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