Shopify did $61bn of GMV in 2019, up 49% in a year, but it's impossible for anyone to compete with Amazon.
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Shopify’s GMV is not only less than 1/5th Amazon’s, their take on that GMV is also considerably lower (less than 1/5th. Everything that can be sold on amazon can be sold on Shopify, but the opposite is not true and that Shopify operates in countries where Amazon does not.
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So yeah maybe Shopify can compete over the long run if things massively go their way and Tobi outwits the worlds greatest ceo, but absent antitrust, they are not in a realistic position to compete.
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after the stock settles... and if they are proving to be reliably profitable... I think they go private...
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