Shopify in Canada (Shop), an e-commerce platform that provides services to independent retailers, announced on Tuesday that it will reduce their share of their applications, following the technology giants Apple, Google, Microsoft and Amazon.
Shopify will provide developers with 100% of the revenue, which comes from the first $1 million they earn through their apps.
“We help people achieve independence by making entrepreneurship, operation, and development easier. We believe that the future of business has more voices, not less, so we are reducing the barriers to corporate ownership so that everyone’s business becomes Better,” the company said.
To our partners: Starting August 1st, we will cancel all your first $1 million revenue share. This means that when you sell, you will keep 100% of the first $1 million @ShopifyApp store.
The best part? At the end of each year, these numbers are reset. Every year, your millionth is yours. pic.twitter.com/jA5QXHq3i4
— Harley Finkelstein (@harleyf) June 29, 2021
Still completely shocked @ShopifyDecided to waive the rev share of the first $1 million you earn through the app every year.
This will really change lives. This will be the first time financial security has been created for so many people.
— Kelly Vaughn_ (@kvlly) June 29, 2021
Harley Finkelstein, President of Shopify, said: “We make it easier for you to change the direction of your future business and make a living from it.”
Shopify was founded in 2006. The company works with 1.7 million companies in more than 175 countries.
Blog “Another Cup of Coffee” Moving About “How much money can you make on Shopify?”
“The actual average income from selling on Shopify will be between US$1,000 and US$1,500 per month. You can expand it to US$10,000 per month through a strict direct sales strategy, because direct sales costs less than selling your own inventory on the platform On,” the blog pointed out.
Finkelstein also announced that the company will increase the commission rate for developers earning $1 million from 15% to 20%.