Deal for Deal 🛍

by 28 Oct, 2020

Deal for Deal

TikTok has continued to establish themselves as one the top social media apps on the planet. And with growth comes serious opportunity. Most recently, Shopify said that it will be partnering with the video-sharing app so that its one million-plus merchants can more easily advertise their products on the platform.

For those who don’t know, Shopify offers an e-commerce platform and distribution to mostly small-medium sized businesses across the globe. The partnership will allow TikTok merchants to sell products in the form of shoppable video ads, where consumers can click on an ad and buy products directly in the app.

Shopify shares have been killing it this year. The stock is up over 150% year-to-date and was up over 4% on Tuesday, following the news.

Financial details about the partnership have yet to be released. For Shopify, this is an opportunity to increase sales online. For TikTok, this acts to help different brands connect with and monetize their social media following on the platform.

While this goes on, TikTok is still on the chopping block in the U.S. and a court hearing is expected to take place on November 4th to determine whether TikTok will be virtually banned for use in the U.S.

Good Luck TikTok!

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

 

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