What could shopify response to secure its position, Other Management

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What could shopify response to secure its position

Problem: Recently Shopify has suffered major slump in growth leading to deep dive of stock-prices and layoff of around 1000 employees. At same time, newer India born ventures like Dukaan, DotPe and Bikayi are trying to enter the market. What are the major challenges for these new players in the market? How can they tackle it? What could be Shopify's response to secure its position?

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