Shopify Acquires Swedish Competitor Tictail; LA Retail Location Leaves Analyst Bullish

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Shopify Inc (NASDAQ: SHOP) shares were surging Monday after news broke that the company acquired Tictail, an e-commerce platform focused on smaller brands. Raymond James analyst Brian Peterson said that while no financial details for the transaction were disclosed, Stockholm-based Tictail has secured $32 million in funding. The analyst views the acquisition positively and said it aligns with Shopify’s goal of enabling entrepreneurs while also providing a potential catalyst for growth internationally.

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