[September 05, 2017] |
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Shopify Announces Winners of Inaugural Build a BIGGER Business Competition
Shopify Inc. (NYSE:SHOP)(TSX:SHOP), the leading multi-channel commerce
platform, today announced the winners of its inaugural Build a BIGGER
Business Competition. Born from Shopify's Build a Business competition,
one of the world's largest competitions for entrepreneurs, Build a
BIGGER Business aims to help later-stage start-ups and trend-shaping
entrepreneurs scale their business to reach new heights.
"The opportunity to support more entrepreneurs is really what inspired
us to create Build a BIGGER Business," said Harley Finkelstein, the
Chief Operating Officer of Shopify. "We understand that the challenges
facing later-stage business are different from those looking to make
their first sale. That's why we wanted to evolve the competition and
create an experience focussed on providing the right coaching, right
tools and right mindset for entrepreneurs looking to grow from $1
million to $50 million and beyond."
From March to July 2017, Build a BIGGER Business competitors were asked
to grow or scale their businesses using traditional and non-traditional
strategies and tactics. To help with this growth, competitors were given
access to the exclusive Build a BIGGER Business online academy,
including immersion sessions with mentors on topics ranging from
organizational leadership to how to optimize your sales funnel.
Winners of Build a BIGGER Business will ring the opening bell at the New
York Stock Exchange, receive strategic and creative planning/support
from leading brand-building agency Sid Lee and a trip to Namale
Resort & Spa in Fiji for five days of mentorship with some of
the biggest entrepreneurs in the world, including Tony Robbins, Tim
Ferriss, Marie Forleo and Debbie Sterling.
Build a BIGGER Business By the Numbers:
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The Build a BIGGER Business Competition attracted applicants from 70
different countries, spread over 750 different cities
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Over the course of five months, competitors generated over 8 million
orders, resulting in more than half a billion dollars in gross
merchandise volume (GMV (News - Alert)). Stacking half a billion $1 bills would reach
more than 42.2 miles in height and stretch beyond the Earth's
Stratosphere
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The average growth for the businesses participating in the competition
was 14% during the competition period
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The Top 10 participants with the highest percentage growth increased
their GMV by an average of over 500%
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The Top 50 participants with the highest percentage growth increased
their GMV by an average of 107%
To enter the Build a BIGGER Business competition, participants needed to
have an existing business on the Shopify Platform with sales between $1
million and $50 million USD. The contest ran from March 1, 2017 to July
2017, and eight winners in eight respective categories were selected:
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Highest Total Gross Sales Gain: Gymshark
Gymshark
is a global fitness apparel and accessories brand for both men and
women, targeting a key audience of 18-25 year old's in over 170
countries worldwide. Based in the United Kingdom, Gymshark was founded
in 2012 by Ben Francis. From a screen printing operation in a garage,
to the fastest growing company in the UK, Gymshark has dedicated
itself to creating innovative and effective performance wear and is
one of the fastest growing & most recognized global brands within the
fitness market. Gymshark are focused on creating hype, disrupting the
market and stimulating demand through innovative brand building
campaigns and creating innovative product.
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Highest Percentage Growth: Skinnymixers
Shop
South Australian based Skinnymixers i backed by
an amazing online community dedicated to sharing healthy thermal
cooking recipes, which has helped launch 5 best-selling self-published
cookbooks. While struggling to lose weight after child birth, founder
Nikalene Riddle noticed a distinct lack of healthy Thermomix recipes
in the cooking community. She channeled her passion for creating
healthy food without sacrificing on taste to create cookbooks, which
reflected her understanding of the need for flexibility in a recipe to
cater for a wide range of dietary needs. Nikalene has built one of the
largest and most active healthy recipe and lifestyle groups on
Facebook (News - Alert) to over 145,000 members.
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The Disruptor: Knixwear
Knixwear
is an active intimates brand that is reinventing intimate apparel to
enable women to embrace the blood, sweat, and tears that accompany a
life well lived. The brand launched in 2013 with a line of leakproof
performance underwear, which continues to be a top-seller. Founder
Joanna Griffiths expanded the brand with the 8-in-1 Evolution bra in
2015, which became the most funded fashion Kickstarter project in
history, with over $1.6M in pre-sales. A firm believer that women of
all shapes and sizes look beautiful in their products, Knixwear opts
to use customers in their photoshoots instead of models, and has
earned a cult following through constant innovation and continued
commitment to a culture of listening.
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Best Scale Strategy: Fanjoy
While
working with his brother's band, A Great Big World, founder Chris
Vaccarino realized that many fans wanted a deeper connection with the
ones they admire. After 2 years of focusing on custom box sets for
Influencers with a fan base (think subscription boxes), Chris saw the
opportunity to support Content Creators (YouTubers) with all things
merchandise. As YouTubers focused their time on creating consistent
digital content, it was obvious that there was a huge opportunity for
them to sell merchandise directly to their fans, but had no time to
organize it. Fanjoy evolved and is now an end-to-end solution for
anyone with a fan base to create custom merchandise experiences for
their fans without any risk or upfront cost. These Influencers use
their life experiences, identity, interests, and content to create
meaningful merchandise that their fans will love (aka "Fanjoying").
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Best Marketing Strategy: BestSelf
Co
BestSelf Co is a young high-growth company founded
by Cathryn Lavery and Allen Brouwer, on a mission to change the world
through providing people with the tools to reach their full potential.
They do this by bringing focus, strategy, and action to big goals and
cutting out all the noise, helping people better themselves, and by
extension, the world. Since hitting the market a little over a year
ago, BestSelf.co's products have been adopted by over 100,000 people.
With those who fill in the SELF Journal (their flagship product) first
thing in the morning, and last thing at night. Whether it's for
personal, professional, or health reasons the SELF Journal is helping
people achieve their goals 13-Weeks at a time. It's not all
achievement though, the products have also proven successful for those
suffering from depression, chronic pain, and even personal tragedy.
One interaction at a time, one action at a time BestSelf.co works hard
everyday to make a positive difference in people's lives.
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Best Raving Fan Culture: Sand
Cloud
Sand Cloud, is a San Diego-based company with a
powerful purpose: to save marine life. Partnering with
organizations that are stewards of the ocean, Sand Cloud donates 10
percent of its net profits from the sale of towels with colorful
designs to organizations that help protect and preserve beaches,
oceans, and marine life. As their business grows, so does the giving.
Company sales grew from $30,000 in 2014, the year it launched, to $2.5
million in 2016.
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Tony Robbins Choice: LIVELY
LIVELY
was built initially to deliver what founder Michelle Cordeiro Grant
always thought was missing from the lingerie category- a brand that
delivered on what it means to be sexy today... smart, healthy,
outgoing and confident. Grant identified a void in the market for bras
and undies with an aesthetic inspired by authenticity and "real life".
The goal was to create something that women could live in for 14 hours
day, and not have to choose between HIGH STYLE and ULTIMATE COMFORT.
With this, LIVELY has established an entirely new category and POV of
lingerie, a movement they call Leisurée. Beyond product, LIVELY set
out to create a community first and foremost. One that would enable,
empower, and remind women what life is truly about. Doing what you
love with the people you love. LIVELY's mission is to drive women
around the world to live life passionately, purposefully and
confidently. This is what they call, #livingLIVELY.
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Shopify's Pick: Kindred
Bravely
Founded in 2015, Kindred Bravely is a
collection of luxury maternity and nursing wear that enables moms to
transition from the bump to the breast and beyond. Pregnancy and
motherhood can be hard, finding comfortable, stylish clothing doesn't
have to be. Created by Deeanne Akerson, Kindred Bravely provides bras,
underwear, and sleepwear to make life more comfortable for new and
soon-to-be new moms.
For more details on this year's Build a BIGGER Business winners, visit https://Shopify.com/enterprise/build-a-bigger-business-winners.
For more information on Build a BIGGER Business Competition, visit https://www.shopify.ca/build-a-bigger-business.
About Shopify
Shopify is the leading cloud-based, multi-channel commerce platform
designed for small and medium-sized businesses. Merchants can use the
software to design, set up, and manage their stores across multiple
sales channels, including web, mobile, social media, marketplaces,
brick-and-mortar locations, and pop-up shops. The platform also provides
merchants with a powerful back-office and a single view of their
business. The Shopify platform was engineered for reliability and scale,
making enterprise-level technology available to businesses of all sizes.
Shopify currently powers over 500,000 businesses in approximately 175
countries and is trusted by brands such as Red Bull, Nestle, GE, Kylie
Cosmetics, and many more.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170905005569/en/
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