Emailed on July 31, 2020 in The Friday Forward

Shopify: The Canadian e-commerce platform reported a 97% annual increase in revenue in Q2, and the total amount of spending on Shopify now exceeds rival eBay. 

• With shares up nearly 100% over the past six months, Shopify is now the most valuable company on Canada’s stock exchange by a healthy margin. 

Spotify: Overall podcast consumption more than doubled in Q2 (shoutout Business Casual) and paying subscribers grew 27% year over year. 

• Also: Michelle Obama, who signed an exclusive distribution deal with Spotify a few weeks ago, debuted her podcast yesterday. Her first guest happens to have the same last name. 

Shopify’s e-commerce ecosystem and Spotify’s growing podcast empire show that the COVID-crash experienced by most companies can actually be a tailwind if shifting consumer habits favor your core business.