April 2, 2019 / 2:55 PM / 8 months ago

BUZZ-Canada's Shopify drops as Microsoft plans to create competitor - report

** Shares of e-commerce software maker Shopify down 2.16 pct to C$268.46; U.S.-listed shares slip 1.57 pct

** Microsoft Corp is considering trying to grab some of the co’s market by creating a competitor, news portal The Information reported citing a MSFT executive

** MSFT sees an opening to cater to larger companies looking for e-commerce platforms, the report said here, citing Shelley Bransten, Microsoft corporate vice-president of retail and consumer goods

** “It’s something we are looking at very seriously because our customers are asking us for it,” Bransten was quoted in the report

** Shopify’s fourth-quarter revenue surged about 54 percent to $343.9 million

** Shopify’s Toronto-listed shares soar 42.97 pct YTD

Reporting By Arundhati Sarkar in Bengaluru

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