No, the article goes on to explicitly state:
Data also shows the platform recently overtook competitor eBay, once a powerhouse in this space, in terms of quarterly sales.
Data also shows the platform recently overtook competitor eBay, once a powerhouse in this space, in terms of quarterly sales.
> The stock has climbed more than 150 per cent since the beginning of 2019, making Shopify more valuable than well-known internet companies including Twitter, Square and Spotify. Its market capitalisation — now more than $40bn — surpassed that of ecommerce pioneer eBay earlier this year.
It's all rather silly, it's sort of like saying Square is the second largest seller of coffee because a lot of coffee shops transact with it. AWS also hosts a ton of other eCommerce infrastructure, we have to include all sales made using AWS if you want this sort of comparison. It's a bunch of nonsense.
tl;dr If you sell shovels you can't claim you're one of the world's biggest miners.
If you want to compare Amazon vs eBay as a platform you wouldn't look at AWS to give an example of what I am talking about.
> "Its market capitalisation — now more than $40bn — surpassed that of ecommerce pioneer eBay earlier this year."
> "Most of the shoppers who spent more than $40bn across 800,000 Shopify merchants last year would have had no idea they were transacting with the Canadian company."
$40 billion is mentioned in two different contexts.
https://www.ebayinc.com/stories/news/ebay-q4-2018-results/
> In 2018, eBay enabled $95 billion of gross merchandise volume