Shopify’s revenue growth picked up slightly in the third quarter, powered by growth in payment processing and other add-on services it sells to existing customers of its e-commerce software. Shares in Shopify, which have tumbled around 75% this year, surged 18% following the results. Revenue totaled $1.37 billion, up 22% from the same quarter last year. That was an uptick from the 16%...
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Inside the Culture Clash at JPMorgan and WePay
When JPMorgan Chase struck a $400 million deal to buy WePay in late 2017, it pledged that the Bay Area fintech would become “Chase’s payments innovation incubator in Silicon Valley,” helping the country’s biggest bank compete with surging startups Stripe and Square and payments companies like PayPal. But it didn’t all go to plan. As the bank tried to digest the...
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