He said they now have one of the largest distribution networks for suppliers. “Finally, we’re very focused on the connection between suppliers and consumers,” Chauvet said. In addition, it’s necessary to provide sell-through information and find out what’s selling in real-time so suppliers can readjust their manufacturing. He also said it’s important to feed back to the merchants much more information about the consumer, so they can adapt their offerings. That means connecting merchants not only to consumers on e-commerce sites and in their stores, but connecting with them through social media and marketplaces. platform to what they’re calling a “commerce platform,” they need to look at the entire network and create value to the entire chain from suppliers to merchants to consumers. “We need to really think about everybody within the eco-system,” he said. JP Chauvet, president of Lightspeed, added that for a commerce platform to be successful, you can’t only focus on the merchant as customer. In a conference call Monday morning, Dasilva said, “We want our platforms to become indispensable to any one starting or running a business.…Vertical dominance not only helps us remain focused, but it also leads to greater financial success.” He said customers in his dominant verticals are more likely to adopt more of their services, such as payments and use more of their software stack. The closing of the two acquisitions is not contingent on each other. Once integrated, the combination of Lightspeed and Ecwid will help merchants reach shoppers wherever they are, whether on social media or on digital marketplaces. “As economics reopen and business creation accelerates, we hope to embolden entrepreneurs with the tools they need to simplify their operations and scale their ambitions.” “By joining forces with Ecwid and NuOrder, Lightspeed becomes the common thread, uniting merchants, suppliers and consumers, a transformation we believe will enable innovative retailers to adapt to the new world of commerce,” said Dax Dasilva, founder and chief executive officer of Lightspeed. It has a market capitalization of more than $11 billion. Its cloud solution unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financing and connection to supplier networks. The company helps merchants simplify, scale and provide exceptional customer experiences. It has teams across North America, Europe and Asia Pacific. Lightspeed, which was founded in 2005, is a one-stop commerce platform and serves retail, hospitality and golf businesses in more than 100 countries. 30, after applicate regulatory approvals. The deal, which is subject to customary closing conditions and post-closing working capital adjustment, is expected to close during the quarter ended Sept. Lightspeed will acquire Ecwid for about $500 million, satisfied by way of payment on closing of about $175 million in cash and of Lightspeed shares valued at about $325 million. In the period ended March 31, Ecwid generated revenues of over $20 million, growing at a rate of more than 50 percent year-over-year. A Look at the Loewe Paula’s Ibiza 2023 CollectionĮcwid, which allows customers to create stand-alone businesses in minutes bringing e-commerce to the masses, serves more than 130,000 paying customers in 100-plus countries.
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