Shopify to Anchor Upcoming King-Portland Centre in Downtown Toronto

Just west of Toronto’s financial district, King Street will in three years be home to an office, retail, and residential site known as King-Portland Centre.

Ottawa-based ecommerce titan Shopify has committed to being the anchor tenant, taking up more than 100,000 square feet—or over 40% of the centre’s total space—according to CTV News.

Two Toronto-based real estate trusts, Allied Properties and RioCan, are redeveloping the property.

Shopify, which went public last year, is rumoured to be a target of Google.

For the full year 2016, Shopify currently expects revenues in the range of $320 million to $330 million and a GAAP operating loss in the range of $36 million to $42 million.

Shopify has launched an ecommerce plugin for WordPress.

You’ll still manage all of your pages and posts in WordPress, says Shopify’s Daniel Patricio,  but you’ll have Shopify to manage everything else: payments, secure checkout, shipping and fulfillment, inventory, and taxes.

Shopify teamed up with Themezilla, Themify, and Ultralinx to build three Shopify-powered WordPress themes.

If you’re already a Shopify merchant, but would also like to sell on WordPress, there is no additional cost.

Shopify is expanding its presence in Montreal.

The Ottawa-born ecommerce giant has a new office with space for up to 200 employees.

The Canadian company intends to hire up to 150 workers this year in Montreal, including developers, designers, and engineers.

Shopify’s first Montreal office opened in 2013.

The company is hosting an open house recruiting event at its office (490 de la Gauchetière Ouest) on February 18.

Shopify currently powers over 200,000 businesses in approximately 150 countries.

Shopify this week reported its latest quarterly earnings.

Total revenue for the third quarter of 2015 was $52.8 million, a 93% increase from the third quarter of 2014. Net loss for the third quarter of 2015 was $4.7 million, or $0.06 per share, compared with a net loss of $4.3 million, or $0.11 per share, for the third quarter of 2014.

“This quarter we introduced many exciting product enhancements, like Shopify Shipping and integrations with Amazon, Facebook and Twitter,” said Tobi Lütke, Shopify’s CEO. “While these initiatives are still in their early stages, we see strong potential for all of them to contribute to our long-term growth.”

For the fourth quarter 2015, Shopify currently expects revenues in the range of $59 million to $61 million and an adjusted operating lossin the range of $4 million to $5 million.

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“Year-on-year revenue growth was strong across both Subscription Solutions and Merchant Solutions, as we continue to attract new merchants and help facilitate their business success,” said Russ Jones, Shopify’s CFO. “We are revising our full-year outlook upward to reflect our better-than-expected results in the third quarter, as well as the increased momentum we’re carrying into the busiest season of the year for retail.”

As the holiday season starts to get seriously busy for retailers, Shopify is looking to aid local small businesses.

The Canadian company is guaranteeing free, next day shipping to close to 100 Toronto-based Shopify merchants at the first-ever Union Station Holiday Market.

If you order something from a participating store, you can be guaranteed that your loved ones get their gifts on time, according to the Ottawa-based e-commerce platform.

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Shopify’s “Holiday Pickup Booth” ends December 6.