Shopify President Discusses International Expansion Plans With Jim Cramer: 'Massive Area Of Growth For Us'

In a recent interview with CNBC, Shopify Inc SHOP President Harley Finkelstein disclosed the company’s plans for international expansion, emphasizing it as a significant avenue for future growth.

What Happened: Speaking to CNBC’s Jim Cramer on Tuesday, Finkelstein emphasized the potential for global expansion. He said, "International is a massive area of growth for us. So not only can any brand of all sizes use Shopify, but once they start selling with us, we want to make it default global, meaning we want their customer base to be global," reported CNBC.

The company is providing tools to facilitate international sales, making it as seamless as local sales, a crucial aspect in the “new global paradigm.”

Finkelstein highlighted some of Shopify’s international clients, including Japanese liquor retailer Suntory and Swedish athletic shoe brand On Running. He also noted that the company has expanded its customer base to include larger brands like Everlane, Nike Strength, and Oscar de la Renta, as well as a focus on business-to-business sales.

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Why It Matters: Shopify’s international expansion plans come on the heels of its Q4 earnings report. The company reported a 24% year-over-year revenue growth to $2.14 billion, beating the consensus estimate of $2.08 billion. The e-commerce platform also reported an adjusted EPS of $0.34, surpassing analyst estimates of $0.31.

However, despite these positive results, some analysts have expressed concern over Shopify’s stock valuation. Prior to the earnings report, one analyst noted that caution may be warranted given the company’s high valuation.

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