Shopify sales surge to topple rival eBay for first time

Shopify homepage

Shopify has registered a surge in second-quarter sales as revenues raked in through its websites surpassed those of rival eBay for the first time.

Shopify said revenues jumped 97% year on year to $714m during the three-month period, as shoppers rushed online during the coronavirus pandemic. 

The total smashed through Wall Street forecasts of around $500m. 

Gross merchandise volume, which measures total consumer spending through the Shopify network before fees and revenue splits with shop owners, rocketed 119% to $30.1bn. 

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