Shopify offloads its logistics baggage

Shopify is finding that simpler is better after all. The Canadian e-commerce firm said on Thursday that it is cutting staff by 20% and selling its logistics arm to freight company Flexport in exchange for a 13% equity interest, to add to Shopify's existing small stake. Investors welcomed the move: Shares of the company led by Tobias Lütke shot up over 20% in morning trade.

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