“Shopify” Has Acquired “Oberlo”
Great news for Lithuanian startup ecosystem! “Shopify Inc.”, founded in Canada and now a global company providing a cloud-based multi-channel commerce platform for small and medium-sized businesses, has acquired “Oberlo”, a Lithuanian company that operates an online marketplace for entrepreneurs.
Total transaction value is estimated to be $15 million.
Founded in 2015, Oberlo is a popular app for the hosted eCommerce platform Shopify. The Oberlo service lets you import products directly from the Chinese super store AliExpress. The service is a drop shipper's dream. Oberlo is the leading marketplace for entrepreneurs to search and find products to sell online. The platform connects merchants with suppliers who ship products directly to consumers.
Since the company’s founding, Oberlo merchants have sold over 85 million products around the world.
Tomas Slimas, Oberlo co-founder gave a small confirmation commentary – "We can confirm that we have handed over nearly all of our communication to Shopify"