Amazon, Shopify, Wayfair, and other big e-commerce sites scale back operations after erroneously betting that pandemic online shopping trends would be permanent (Matthew Townsend/Bloomberg)

Annie Palmer / CNBC:
Research firm says Shopify is warning its merchants not to use Amazon’s checkout service Buy with Prime, saying it is a security risk and violates Shopify ToS  —  – Shopify is warning merchants that Amazon’s one-click checkout service violates its terms of service, according to Marketplace Pulse.

Stefanie Marotta / Bloomberg:
Shopify changes its compensation practices to let staff choose a mix of cash, restricted stock units, and stock options; Shopify stock is down 75% in 2022  —  Shopify Inc. is changing its compensation practices to let staff decide how much of their pay will be cash versus equity …

Nivedita Balu / Reuters:
Shopify reports Q3 revenue rose 22% YoY to $1.4B, above $1.34B estimates, and GMV grew 11% YoY to $46.2B; shares jump 7%+  —  Shopify Inc (SHOP.TO) beat Wall Street estimates for quarterly revenue on Thursday, as businesses stuck to the Canadian online services provider’s tools and payment options to scale up.

Louise Matsakis / Semafor:
TikTok has quietly launched its livestreaming e-commerce feature TikTok Shop in the US this week; source: TikTok has invited select US businesses to participate  —  TikTok quietly entered the United States e-commerce market this week, where it will compete with Amazon and other retail giants during the coming holiday shopping season.

Ingrid Lunden / TechCrunch:
Ordergroove, which offers e-commerce subscription tools for brands and retailers, raised $100M+ led by Primus Capital, bringing its total funding to ~$150M  —  Amazon has mastered the concept of subscriptions in e-commerce.  Prime-based memberships, and the ability to set up recurring purchases …

Blake Brittain / Reuters:
Shopify settles a lawsuit with major educational publishers that claimed the platform ignored notices of users selling pirated textbooks and other materials  —  Shopify Inc has settled allegations by a group of major educational publishers that the Canadian e-commerce company enables piracy on its platform …