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Shopify Loses Early Investor Mawer Over Rising Competition, Deliverr Deal

  • $2.1 billion startup acquisition ‘probably increases the risk’
  • Calgary investment firm first bought the shares in 2017
Shopify Plummets Most Since 2020 on Slowing Growth Outlook
Photographer: Gabby Jones/Bloomberg

Shopify Inc. lost one of its longtime supporters after Mawer Investment Management’s Vijay Viswanathan said he exited the stock over concerns about rising competition and risks in e-commerce. 

Ottawa-based Shopify became Canada’s most valuable public company during the pandemic, soaring above $200 billion in market value, but the stock has plummeted 75% this year.