Netccentric (ASX:NCL) share price soars on Shopify links

The Netccentric (ASX: NCL) share price is rising today as the company announced a landmark agreement with e-commerce giant Shopify.
The post Netccentric (ASX:NCL) share price soars on Shopify links appeared first on The Motley Fool Australia. –

asx share price rising on deal represented by hand shake

The Netccentric Ltd (ASX: NCL) share price is flying higher today as the company announced an affiliation with global company, Shopify Inc (NYSE: SHOP).

Shares in the small-cap Australian company are currently trading up 2.17% at 24 cents.

Netccentric is a communication services company that develops software and programming platforms to engage with digital advertising. While it operates globally, the company primarily targets southeast Asian markets.

What happened

Today the Netccentric subsidiary, Nuffnang Live Commerce, completed an integration with Canadian e-commerce giant Shopify. The partnership will allow almost 2 million Shopify merchants to sell their products via its live video streaming application.

The integration will likely enable Netccentric to increase its merchant base, consequentially driving possible revenue opportunities for the company through transaction and subscription fees. Moreover, Shopify merchants could also gain the ability to select products from the Shopify catalogue and directly sell through live streaming.

With a market capitalisation of $138.69 billion, Shopify would be the second-largest company on the All Ordinaries Index (ASX: XAO) if it were listed. The Canadian company operates across 175 countries and generated $2.93 billion in revenue in 2020.

How it works

Netccentric says the platform helps merchants convert social media comments into sales through an automated livestream selling process. A user can comment “+1” or “+2” on a post relating to an item, and the goodwill is immediately added into a virtual shopping cart.

The platform was developed so that both merchants and retailers can take advantage of the rising social commerce industry.

Management comments

Netccentric executive chair Ganesh Kumar Bangah welcomed the news, saying:

After a sustained period of platform development in 2020, we are now exposing Nuffnang Live Commerce to as many merchants, brands and businesses as quickly as possible.

With the Nuffnang Live Commerce Shopify integration, we are making it easier for merchants on the Shopify platform to leverage live social video selling in a way that is quick to get started with an easy and seamless integration

About the Netccentric share price

The Netccentric share price has gained an astounding 235% this year, most of the increase coming in March. At its current share price, the company has a market capitalisation of $65 million.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Shopify. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Netccentric (ASX:NCL) share price soars on Shopify links appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!