shopify's really the world's first e tail operating is system.ay does this, why would someone want to work with you? >> whether it's amazon, ebay or any of the vertical-specific marketplaces, what they're effectively doing is they're representing customers to these brands. it is their customers they are saying to you you can use them if you want, but at a certain point, tough pay for them, or if we actually want to compete with you, you can't have those customers anymore. we believe independent businesses are much better, and consumers are demanding they want to buy directly, so we think that while marketplace may be a great place to access a different audience, fuldly entrepreneurs large and small, they want to have a direct relationship with the end consumer, and that's what shopify does. jack: one of the interesting things to me as i look at the economy right now, obviously, disruption is a huge part of it. but you are disrupting the disrupters, amazon, e -- ebay, and helping the old line mom and pop retailers. your founder said that he was ar

shopify's really the world's first e tail operating is system.meone want to work with you? >> whether it's amazon, ebay or any of the vertical-specific marketplaces, what they're effectively doing is they're representing customers to these brands. it is their customers they are saying to you you can use them if you want, but at a certain point, tough pay for them, or if we actually want to compete with you, you can't have those customers anymore. we believe independent businesses are much better, and consumers are demanding they want to buy directly, so we think that while marketplace may be a great place to access a different audience, fuldly entrepreneurs large and small, they want to have a direct relationship with the end consumer, and that's what shopify does. jack: one of the interesting things to me as i look at the economy right now, obviously, disruption is a huge part of it. but you are disrupting the disrupters, amazon, e -- ebay, and helping the old line mom and pop retailers. your founder said that he was arming the rebels. so can yo

shopify shall provide -- is one of canada's best performing stocks.cussth the company's growth plans. take a listen. we said we would invest a lot of money. it is something we want to have. we will have to spend some money. >> are you surprised by the negative reaction to continued growth and investment? >> i work every day. the way we think about it is, we are working on sustained market value of the business. >> you were talking about systems. the purchase you made. making deliveries. anymore on your horizon? probably, but not that. this is very good. this is what we spend most of our time on. >> you talked about the need for two day delivery. how do you find the constant competition finding from amazon? and the need of your clients being somewhat different? >> one of them was wonderful. our shoppers and merchants are always hiding us -- holding us to a higher standard. we will try to get things to everyone in two days. >> how do you think it will become more efficient as time progresses? >> things have to travel by any means possible. it can go fut

taylor: that was the ceo of shopify.tform launched in 2017 and believes the future of retail is local. joining us to discuss is the cfo. she is a 25 year industry veteran and most recently served as cfo at a leader of licensed sports merchandising. great to have you. i want to kick it off with news of the week. $150 million in funding. putting you at a $1 billion valuation. what are you using the money for? >> we have a lot of growth opportunities. this is a business that has grown very rapidly since its founding a couple of years ago. our big priorities are continuing to add tools to the services of our marketplace. we will extent -- continue expanding categories. both of those businesses are doing well. we will continue to pursue those growth opportunities. taylor: your tagline goes a lot against what we hear. why are you betting on the local consumer? >> it is so interesting. i share this same perception. everything is about a retail apocalypse. the apocalypse has missed rocha lead to -- retail. -- has missed local re

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. >> pinterest, shopify, some concerns around those names. >> then you get into high multiple stocks.rd internet reasonable valuation, with the exception of netflix pinterest and shopify give you ten times multiple stocks. those are expectation stocks if you don't print to the high end of expectations, you're going to see a correction. that's what happened in both those names. >> yousef, what do you see from peloton, uber this week? >> well, we think we're going to see exactly what mark talked about, broadly speaking consumer continues to be healthy, advertisers continue to be healthy. for uber, we expect 30% plus growth rate. for peloton, looking at 65, 70% year on year growth. so really, really strong but again, there are some issues regulatory is an issue the big mac row potential slowdown is an issue for a number of investors. but i would say halfway into earnings, we're pretty happy where we are in terms of valuation, you said earlier in your opening remarks that we're obviously trading at an all-time high you look at the digital media group, we're not tradi trading 14, 15 times

e-commerce company shopify said $1.2 million a minute. people shopping via their phones.ack in a moment. >>> cramped, tight, smaller seats on airplanes, are they putting your safety at risk? faa wants to know if it keeps you from getting up quickly in emergency. 60 people in test, 90 seconds to evacuate. not sharing the results but no kids, elderly or disabled people were used so can't be accurate. >>> toys "r" us, toy retailer filed for bankruptcy in 2017, closed all 800 stores last year. true kids bought the brand and opened a brick and mortar store in new jersey, plans to open ten stores by end of next year. >>> tom brokaw was in the area today, promoting his book "the fall of richard nixon," talking about something that's timely again today. >> i thought it would be helpful fohhe different political climate then. nixon was guilty. >> hoping new book adds to collection of best sellers. >>> warriors start a five-game road trip, show you how it went in miami. sports is next. it's time for the ultimate sleep number event on the sleep number 360 smart bed. can it help keep

thigh.e added shopper -- shopify. took away its unitedhealth position.entase: tiger get in on quite a few ipo's. we will be watching for other breaking 13f's and we will bring them to you shortly to see what some investors have been doing. in june.an ended -- when it ended in june. caroline: let's turn our attention to more earnings. walmart is pulling out a win. shares slumped after hitting a record high earlier. it closed on the today up 1.3%. our reporter joins us from washington. we did not get euphoria in the share price, but we did see real execution. what is the winning formula they are managing to pull out? >> the strong comparable sales growth is -- was built on growth and transactions. a proxy for foot traffic. also, when people are coming into the store, they were buying more expensive items or adding more items to their cart. of their strength has been grocery both online and in-store. this is what is powering their online growth. it's how they differentiate themselves from amazon. understandoceries, i why they may be making inroads. will tha

have not, particularly internet and a lot of midcap platform names like etsy and lyft and uber and shopifyforth, it has been surprising in software space, multiple is still 36 times earnings on average. that can come down a bit more. internet space probably needs to consolidate a bit. on the positive side, some of the bigger cap software stocks look interesting semiconductors, we're not willing to chase here. we have the economy potentially weakening, that's the debate early cycle names of semis and hardware have been doing better, but we think it is largely in the names. >> are you surprised by how much we've seen some semi names run up it is not like we're talking about full fledged recovery for many names, it is possibility of stabilization. >> i have been surprised, we have been underweight, last couple months did well if you're a semiconductor company with exposure to smart phones, 5g, cloud, like qualcomm, you're doing well. on the other hand, microchip or ti, more gdp type company with automotive and industrial exposure, you're getting hurt. we're seeing a mixed bag there there is a

skraetcreate a stra where you would have one end of the bar bell that tightened amazon and the other end shopifythey have an opportunity to take market share from amazon of course it is all on the come, but so far they have been showing some nice traction when i take a look at my tech or yenlts on oriented fund, i most prefer the semiconductor names almost over anything. >> and ed, coming back to you, at the mall, just curious what is on your radar today, what will you be visiting, what are you looking for to help understand the retail landscape? >> so we cover both internet and many of the leading traditional retailers. we've been checking traffic level both today and yesterday and obviously amazon remains one of our top picks as well, but we're seeing a lot of momentum around the mall. stores like lululemon, peloton, i think that offer a great experience that are into fitness in particular, i've seen very strong traffic today so overall i'd say this is a pretty solid start to what will be a very critical holiday season >> peloton, with an to watch to the ad list. brent, ed, paul, thank you for

this time last year black friday deals, though, you know go beyond just those big-name retailers shopifyen smaller and medium ecommerce size players that use their platform to power their sites they tell cnbc so far, black friday sales peaked after midnight at $1.2 million per minute that was about double the amount the sales peak hit on thanksgiving thursday. so far in the u.s., up about 60%. but today is expected to be a very, very big day back over to you. >> here's my question for you. given the fact that cybermonday online shopping has now surpassed black friday, we've seen that in years past. how much of black friday is really about experiential shopping again it's about going out and doing the treasure hunt, elbowing the crowds coming home with your treasure that leaves people feeling with what the malls are trying to accomplish by adding in all these experiences and bricks and mortar facilities. >> that's such a good question, contessa, because i think while a lot of people want to be anywhere but the mall on black friday, there are a lot of other people that wouldn't be anywhere

two companies were bought by shopify, one bought by stitchfix, two on the 2017 list bought by microsoft had high profile ceos making investments. particul tim cook is an angel investor in a biotech company, mark benny who have in investor tech. finally, this is always fun. celebrity investments. up start winner daily harvest, backed by serena williams, shaun white, bobby flay and gwyneth paltrow. we sit down with the founder of tundra, you can follow cnbc for more of that >> i'll take it. that's a great job part of our job here to help investors identify companies before they're household names thanks. >>> time for a news update let's get to sue herera at hq. >> good morning, carl. good morning, everyone here's what's happening at this hour demonstrators gathering outside the supreme court as justices began hearing arguments on the trump administration bid to end deferred action for childhood arrivals program, commonly referred to as daca. it began under president obama, protects immigrants brought to the u.s. as children from deportation. >>> afghan president announcing that his govern

, they designed new tech to make more personalized jeans without a lot of despoilage in the world shopify, it makes it possible for small operators to sell things on the web. retail or tech what about something like twitter? or apple video games and that's chock-full with the most sophisticated chips that we have is that immediate business or tech how about the hardware that powers it. is tech still tech if it's in the living room, the kitchen the bedroom? where do we categorize the software as a service place like service now which was just added to the s&p 500 and vaulted big or adobe which went to the e-commerce juggernaut or yes, the company that's the reason why we're out here -- salesforce.com i mean, salesforce.com practically invented the industry with their software platform i don't know if we would have called that tech a few years ago. you have got billions and billions of dollars of software sales that i don't think could be contained by the rubric tech. not like the ones that you're supposed to sell when i think of that piece, when i think of the things they're worried about

affirm is pointing with wal-mart on point of sale stripe works with target and underarmor shopify deliveringike shoes. nike as guy mentioned severed the relationship with amazon should other brands follow in nike the dtc makes it it's only disruptive to do so. instead a knockout below it could be a death by a thousand cuts another benefit of controlling the process instead of using fulfillment by amazon is a companies can maintain the brand strength by offering greater personalization and more control over quality remember, that counterfeits are problem for the amazon plarmt. i checked the weblts rebates of glossy and washy parker not a black friday or cybermonday deal to be found. it comes as amazon's core retail business is slowing. >> thank you, dedra. this reminds when brands started questioning kwie why they needed to be in the department stores amazon is the new age department store. you can find everything on the plarmt, any brand and brands question that. >> no question and i think to brian's point -- we laughed about it. but i think he makes sense imif people go to a store, that's t

with the names like service now that moved up zeenlt shopify is one and could you pleasa software.good chance to revisit the highs as well. >> christian thank you so much. >> thank you. >> what do you think it's -- >> it's a $22 billion-dollar market cap the options are expense of but that said i think that's how you play the stock like that's expensive and also up 70% on the year you probably want to define risk if you have a directional inclination. >> up next, it could be an electric night for tesla as the company gets ready to roll out the pickup truck we'll look at what investors are watching for in the reveal check out the cramer cam jim has the ceo of chip maker amd whose stock doubled this year that at the top of the hour. much more "fast money" still ahead. . but in my mind i'm still 25. that's why i take osteo bi-flex, to keep me moving the way i was made to. it nourishes and strengthens my joints for the long term. osteo bi-flex - now in triple strength plus magnesium. doprevagen is the number oneild mempharmacist-recommendeding? memory support brand. you can find it in

. >> reporter: shopify and amazon host small businesses like parker's. >> most small businesses fail.o get noticed and recognized. >> reporter: etsy ceo john silverman wants to give owners to build their brand. how does etsy work for a business that is trying to compete? >> creativity can't be automative. we have over 2 million sellers who use their creative energy to run a global business on etsy. 89% of them are women. and 91% are businesses of one. they can run that from their living room. >> reporter: silverman's goal is for items sold on etsy to be unique. >> in a day when people want fewer things, they want things that express their identity, things that have meaning for them. >> reporter: and customers keep coming back for more. >> people return because we put so much love and put effort into every piece. >> reporter: for parker, this is more than a job. it's a labor of love. >> i thought i was helping one dog out by making a collar. and i realized, you can follow your passion and do something that you love. >> jo, for the folks who are headed out today to shop small, what do y

no >> shopify has passed them i can argue they should merge with etsy. etsy would never sell. they have been left behind we have done a series of very tough pieces on realreal, authenticated, which are terrific investigative -- may not be authenticated that is second hand. these guys have secondhand blues. >> secondhand blues? >> yes secondhand blues >> mayor >> it is growing a tiny bit. isn't it >> no? >> david. >> pay pal and all the growth. >> pay pal, remember, they're changing the payment platform on their -- their payments mechanism on the platform which they believe will help and he said to me, they also do, they're in the middle of that. advertising they see as another area where they can generate >> that's a vertical. >> it is a vertical. >> people call things outlets. vertical good market strategy good market strategy to me bacon and eggs and then -- >> go to market. >> kids need milk. >> what is the go to market strategy you're not scaling -- >> i know. you know who that would disappoint john malone. >> john malone >> he's all about scale. >> he's fascinated by scal

shopify said their sales totaled $442 million this year that's up from $250 million last year and u.sup more than 60% the average household is expected to spend about 415 bucks this holiday weekend i haven't even gotten started so i have a lot of work to do last year the average consumer bought five and a half items in store this weekend and 3.6 items online leslie, back over to you >> quick question for you. it's morgan. i, like you, have not really started my holiday shopping either i think part of the reason is because i know i can go online and get one or two day shipping. i wonder how much of a risk that can be if it's something the retailers are talking about that you can see this last-minute surge which we know has ensnared delivery companies and retailers in years past. >> reporter: you definitely know that story, morgan it is a little dangerous to wait because of obviously the volume of packages that is going to go through the system for all of the major carriers but also that calendar that i mentioned. you've got six fewer days this year between thanksgiving and christmas. t