• Tue. Nov 29th, 2022

Shopify makes strategic investment in Klaviyo as solution providers enter product partnership

BySamuel M. Craig

Aug 8, 2022

Shopify and Klaviyo have entered into a product partnership, with Klaviyo serving as the recommended email solution partner for Shopify Plus. Additionally, Shopify is making a strategic investment in Klaviyo to build on long-term collaboration across platforms.

Klaviyo will also get early access to new Shopify developer features, with the goal of helping Klaviyo and Shopify accelerate new technologies designed to help retailers navigate recent changes in online marketing. The partnership aims to further strengthen opportunities for retailers to deepen customer relationships in a dynamic marketing environment.

“Our goal has always been to understand our customers (and their biggest challenges) and build the most loved product that solves those challenges,” Klaviyo co-founder and CEO Andrew Bialecki said in a statement. “Partnerships with leading platforms like Shopify that share our values ​​and mission are key to helping solve the challenges creators and brands face. We’re excited for what this continued partnership means for our customers.

“Klaviyo is a shining example of the outsized impact Shopify’s ecosystem of apps and partners can have on the next generation of commerce solutions for independent brands,” said Harley Finkelstein, president of Shopify in a statement. . “Klaviyo has become invaluable to hundreds of thousands of merchants in helping them better understand their customers and engage them in a highly personalized way across so many touchpoints. Klaviyo’s success has been incredible, and we’re thrilled to cross this next step in our already strong partnership to make it even easier for Shopify merchants to grow their businesses.

The partnership follows a difficult second quarter of 2022 for Shopify, when it announced a net loss of $1.2 billion. The platform also laid off ten% of its workforce, approximately 1,000 people, at the end of July due to the slowdown in e-commerce demand. The layoffs focused on the recruiting, support, and sales departments, as well as what Shopify CEO Tobias Lütke called “over-specialized and duplicate roles, as well as some groups that were handy. to have but too far removed from the construction of products”.