Smart! This was a bet that I think made sense in theory for Shopify, but in practice became too hard to manage and execute given their M.O.
Would imagine Shopify is taking a loss in offloading, but will prevent future hemorrhaging of cash from a business decision that clearly did not pay off like anticipated.
Unlike some people, I don't think this experiment was necessarily a bad one for Shopify. I would have to know inside info as to whether it made sense at the time to do, but barring that I would give the benefit of the doubt to Shopify to try, if the reward was high enough if they pulled it off...
Would imagine Shopify is taking a loss in offloading, but will prevent future hemorrhaging of cash from a business decision that clearly did not pay off like anticipated.
Unlike some people, I don't think this experiment was necessarily a bad one for Shopify. I would have to know inside info as to whether it made sense at the time to do, but barring that I would give the benefit of the doubt to Shopify to try, if the reward was high enough if they pulled it off...