March 22, 2019 / 7:46 PM / 9 months ago

BUZZ-Shopify shares slip after removal of Mailchimp e-mail app

** U.S.-traded shares of Spotify Inc falling 2.6 pct on Fri after e-commerce software co announced it had removed Mailchimp email newsletter app from SHOP app store

** In post on its website here, SHOP said Mailchimp was not sharing some pertinent data it captured from the e-commerce businesses using its email services. "It's critical for our merchants to have accurate, complete insight into their businesses and customers, and this isn't possible when Mailchimp locks in their data," the post stated

** Mailchimp also released a statement here regarding the removal of its app. "We refused to agree to terms that jeopardize our users' privacy and require us to hand over customer data acquired outside of Shopify," the statement read. "From our perspective, that's not our data to share."

** YTD SHOP up 44 pct, vs 18.4 pct gain for S&P 500 Information Technology index

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