On October 27, Canadian e-commerce Shopify rose more than 4% intraday to 1082.09 US dollars, with a turnover of 926 million US dollars and a turnover of 862,100.

Today, Shopify and TikTok announced that they will be collaborating.

Under the new partnership, TikTok will provide a dedicated channel for Shopify merchants to help more than 1 million Shopify merchants advertise their products more easily on TikTok.

TikTok will also give eligible merchants a $300 ad credit to help launch their first ad campaign.

The two companies will also collaborate to test new commerce features over the next few months.

Satish Kanwar, vice president of Shopify, said he is delighted to partner with TikTok, especially now that we are preparing to enter the peak online holiday shopping season.

Blake Chandlee, TikTok's vice president of global business solutions, said the partnership with Shopify will help merchants “attract new audiences and drive sales on TikTok.”

Also, Shopify will release its Q3 earnings report before the market on October 29 EST. The company previously achieved strong revenue growth of 97% year-on-year in Q2.