Early this month, Shopify announced the winners of its Build a Bigger Business competition, which is targeted to later-stage startups that make between $1 million to $50 million annually.
“The opportunity to support more entrepreneurs is really what inspired us to create Build a BIGGER Business,” said Harley Finkelstein, COO of Shopify. “We understand that the challenges facing later-stage business are different from those looking to make their first sale. That’s why we wanted to evolve the competition and create an experience focused on providing the right coaching, right tools, and right mindset for entrepreneurs looking to grow from $1 million to $50 million and beyond.”
Over the course of five months, competitors generated over 8 million orders, resulting in more than half a billion dollars in gross merchandise volume (GMV). The Top 10 participants with the highest percentage growth increased their GMV by an average of over 500 percent.
Winners of the competition rang the opening bell at the New York Stock Exchange, received strategic and creative planning from Sid Lee agency, and a trip to Namale Resort & Spa in Fiji for five days of mentorship with Tony Robbins, Tim Ferriss, Marie Forleo, and Debbie Sterling.
This competition stemmed from the Build a Business competition Shopify has been running for several years.
The winners for the Build a Bigger Business competition include:
- Highest Total Gross Sales Gain: Gymshark
- Highest percentage growth: Skinnymixers Shop
- The Disruptor: Knixwear
- Best Scale Strategy: Fanjoy
- Best Marketing Strategy: BestSelf Co
- Best Raving Fan Culture: Sand Cloud
- Tony Robbins Choice: LIVELY
- Shopify’s Pick: Kindred Bravely