Company:Ecwid

From HandWiki
Ecwid
Typesubsidiary
IndustryE-commerce Software
Founded2009
FounderRuslan Fazlyev
Headquarters
Montreal
,
Canada
Area served
worldwide
Key people
Ruslan Fazlyev (CEO)
ServicesCloud-based SaaS application for creating online stores
ParentLightspeed
Websitewww.ecwid.com

Ecwid is a technology company that develops and distributes e-commerce software for retailers to sell online on individual and websites social networks.[1][2] Established in 2009 by Ruslan Fazlyev and Yury Zaytsev, the platform is primarily used by small businesses. In 2021, it relocated from Encinitas, California to Montreal, Canada, following the acquisition by the Canadian company Lightspeed.[3][4]

Overview

Ecwid was established in 2009 by the software engineers Ruslan Fazlyev and Yury Zaytsev,[3] Prior to Ecwid, the founders developed X-Cart, which served as the company’s first commercial prototype.[1] The company bootstrapped during the initial stages of development.[5] The company name "Ecwid" is a portmanteau for "e-commerce widgets".[6] Initially developed in the Russian city of Ulyanovsk,[7] the IT startup was incorporated in October 2011[8] and opened its satellite offices in Mountain View, California in early 2012.[9][1][6] Ecwid later moved its headquarters to Encinitas, California.[3][10]

In 2013, Ecwid acquired Payvment’s customer base and expanded its reach with merchants selling via Facebook.[2] Per Financial Times, "by the end of 2013, Ecwid had 350K merchant accounts with 40% of the clients based in the US."[1] In 2014, the company reached 500K business clients and also partnered with Facebook to enable autofill of payment details.[2][11]

The company attracted capital from a number of investment funds, includingMorgan Stanley and Runa Capital,[9] among others.[10][5] Ecwid was acquired in 2021 for $500 million by the commerce Lightspeed company with headquarters in Montreal, Canada.[3][5] As of 2022, the application was available in 53 languages.[12]

Technology, business model and industry applications

Ecwid employs Software as a service (SaaS) business model. The company operates by using APIs and works with merchants to install e-commerce functions on mobile and desktop sites with the technology based on AJAX-powered store builder widget.[9] The company's software is integrated mainly on retail platforms and social networks with Facebook, Instagram, TikTok, Pinterest, Amazon, PayPal and WhatsApp as the most notable.[11][13] Ecwid's main competitors are Shopify and Bigcommerce.[2][10][14][15]

See also

References

  1. ↑ 1.0 1.1 1.2 1.3 Nickerson, James (2013-09-19). "Russia’s next tech titans". Financial Times. https://archive.ph/PCNTV. 
  2. ↑ 2.0 2.1 2.2 2.3 Lunden, Ingrid (2014-05-28). "Facebook Commerce Leader Ecwid picks up $5 million as it passes 500K users". TechCrunch. https://techcrunch.com/2014/05/28/ecwid/. 
  3. ↑ 3.0 3.1 3.2 3.3 Freeman, Mike (2021-06-09). "A big exit: E-commerce startup Ecwid being acquired by Lightspeed for $500 million". The San Diego Union Tribune. https://www.sandiegouniontribune.com/business/story/2021-06-09/a-big-exit-e-commerce-startup-ecwid-being-acquired-by-lightspeed-for-500-million. 
  4. ↑ Mikheyev, Leonid (2014-09-11). "Russian e-commerce platform goes global". Russia Beyond. https://www.rbth.com/science_and_tech/2014/09/11/russian_e-commerce_platform_goes_global_39699.html. 
  5. ↑ 5.0 5.1 5.2 "The hero of Yury Dud's film sold Ecwid online store designer for $500 million (Translated from Russian: "Герой фильма Дудя продал конструктор онлайн-магазинов Ecwid за $500 млн"". RBC. 2021-06-07. https://quote.rbc.ru/news/article/60be376c9a794719ad1fdac9. 
  6. ↑ 6.0 6.1 Shainyan, Karen (2013-10-25). "How to beat Facebook without leaving Ulyanovsk (From Russian: "Как победить Facebook, не выезжая из Ульяновска"". Republic (former Slon.ru). https://web.archive.org/web/20141031190844/http://slon.ru/biz/1008988/. 
  7. ↑ "Ecwid raises $1.5M, plans to open Mountain View office". Silicon Valley Business Journal. 2011-12-14. https://www.bizjournals.com/sanjose/news/2011/12/14/ecwid-raises-funding-plans-to-open.html. 
  8. ↑ "Ecwid Inc.". Bloomberg UK. https://www.bloomberg.com/profile/company/0108990D:RU#xj4y7vzkg. 
  9. ↑ 9.0 9.1 9.2 "Shopping Cart Software Maker Ecwid raises $1.5 million and expands to US and UK". TechCrunch. https://techcrunch.com/2011/12/14/shopping-cart-software-maker-ecwid-raises-1-5m-expands-to-us-uk/. 
  10. ↑ 10.0 10.1 10.2 Sawers, Paul (2020-05-21). "Shopify rival Ecwid raises $42 million amid ecommerce boom". VentureBeats. https://venturebeat.com/2020/05/21/shopify-rival-ecwid-raises-42-million-amid-ecommerce-boom/. 
  11. ↑ 11.0 11.1 Constine, Josh (2014-04-30). "Facebook Rolls Out Billing Info "Autofill" for Simpler Checkout to 450K Ecwid E-commerce Merchants". TechCrunch. https://techcrunch.com/2014/04/30/facebook-ecommerce/?_ga=2.108632002.1915679694.1656447439-668288065.1656447439. 
  12. ↑ "Displaying your store in multiple languages". Ecwid Technical Support. https://support.ecwid.com/hc/en-us/articles/360000070005-Offering-your-store-in-multiple-languages#:~:text=Ecwid%20storefront%20is%20professionally%20translated,%2C%20Arabic%2C%20Belarusian%2C%20Bulgarian%2C. 
  13. ↑ "PayPal Expands Further Into Offline Retail And Mobile Payments With New PayPal Here SDK". TechCrunch. https://techcrunch.com/2014/09/04/paypal-expands-further-into-offline-retail-and-mobile-payments-with-new-paypal-here-sdk/. 
  14. ↑ "What is Ecwid?". Capterra. https://www.capterra.com/p/143648/Ecwid/. 
  15. ↑ "Ecwid Pricing, Features, Reviews and Alternatives". GetApp. https://www.getapp.com/website-ecommerce-software/a/ecwid/. 

External links


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