April 8, 2020
Shopify Review: Best E-Commerce Website Builders – AngelKings.com

Shopify Review: Best E-Commerce Website Builders – AngelKings.com

– [Voiceover] This is the
Billion Dollar Startup Series. Your hosts, the Angel Kings. – Today we are discussing Shopify. Ross, let’s talk about
the people at Shopify. – This is a company
that, particularly when you’re an Angel investor
you should look out for. They have Daniel Tobias, who
started their Canadian company, I believe up in Ottawa. What they saw more or less
was a fundamental need to re-create e-commerce. It’s been this sort of scattered process where you have WordPress,
you’ve got all these various ways in which you sell a product, but not a simple platform to do it. These two were both hackers, hustlers, and social media mavens. They didn’t just innovate
inside of Canada, they also went down to the United States and just absolutely
transformed e-commerce. I love that, and what we
look for when we invest in startups, as all Angel
investors and venture capitalists should do, is who are
the people behind it? You had a hacker, hustler,
social media maven all in one. – So what is the product? Will this product be around in the future? Talk to me about that. – What I like to, Ken Shammalvite, analogize it to, is that the right word, is a company that allows
for anybody to sell anything in a simple way. – Okay.
– Okay? So if you have a company, and let’s say you’re selling t-shirts,
traditionally to sell t-shirts you would have a printing
press, you would maybe have a retail operation, but
if you wanted to put that company online, how did you do it? There’s various methods, you could maybe do a WordPress site, sell it on your blog, Blogger, however, and I
think the biggest need was figuring out how to make that easier for the average consumer. The product is an e-commerce
solution for anybody to sell anything. – Okay, their execution,
do you feel as though they’re a brandable company? – I think they’ve already, when
we were doing the rankings, this was pre-IPO so the have IPO’d since, they’re not just a brandable name from their ticker shop to the small business consumers, but they’ve created a phenomenal community of people that are selling. There are companies like Etsy,
which I’m not necessarily the biggest fan of, I
think they’re sort of, there’s too much counterfeit
stuff going on there, but this right here, this is shoppable, this allows for anybody
for 20, 30 bucks a month to get on and sell their product and control their own store. Not having to worry about
somebody taking a percent. That’s empowering, that
changes the American consumer. Look at Airbnb, you’ve got a company that really what they were,
it’s saying you’ve already got a space to rent out, why not do it? It’s brilliant, you’ve
already got your product, why not put it online? That was the same thing with Shopify, and they will be around 20 years from now and the brand is phenomenal. I did a lot of these rankings before that. I’m thoroughly impressed with it. – Now that they’ve IPO’d,
do they have any competitors in the market? – Yeah, there are ways which, eBay is your traditional
competitor, they’ve made it through the dotcom, one
of the few companies to make it through the dotcom boom, 2001 in that era. There’s eBay, which controls PayPal. There’s WordPress, which
just bought a company called Automatic, I’m sorry,
they bought WooCommerce, Automatic, which is the
parent company of WordPress, bought WoodCommerce, so
they’re clearing getting into the e-commerce space. I can see that as an absolute competitor. There’s Etsy, I’m not
as big of a fan of Etsy, I think it empowers the consumer. I don’t know if I like
the fact there’s not a lot of ability to know what’s
real and what’s not there, but yeah, tons of competition. Again, as we talk about in
the book “Kings Over Aces,” how do you not just
differentiate yourself, but how do you create
something first in category? They’re still going to have to do that, even though they’ve IPO’d. – Okay, thanks a lot,
Ross, appreciate your time. Find the next billion dollar startup at AngelKings.com. – [Voiceover] Learn how
you, too, can invest in America’s next top startups. visit AngelKings.com today.

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