The Ottawa-based company will become a shareholder in dual-headquartered Faire, which has a Canadian office in Kitchener-Waterloo, as part of a global collaboration that will see Shopify recommend Faire to its merchants. (The Logic)

Talking point: Faire connects independent retailers—like many Shopify merchants—to brands, helping them source and manage their inventory. The companies did not disclose the financial details of the deal, but after a May 2022 funding round Faire’s public valuation hit US$12.59 billion. A source told Insider that Shopify was in discussions to own five per cent of Faire as part of the deal. Shopify recently made out big in a similar partnership with Klaviyo, through which it has the ability to own up to 11.2 per cent of the firm in exchange for recommending its email services to its Shopify Plus merchants. When Klaviyo IPO’ed last week, Shopify’s existing Klaviyo shares jumped above what it paid for its stake.