What happened The lofty gains that Global-E (NASDAQ: GLBE) had racked up last year are coming undone in grandiose fashion. Shares were down 10.4% today as of market close. In total, the stock is now 47% off its all-time high notched last September, with most of those losses coming in recent weeks on fears of rising interest rates. Image source: Getty Images. So what Global-E is a fast-growing e-commerce software company, providing tools for merchants that want to sell internationally. As digital buying and selling picks up steam in emerging markets, Global-E's revenue has soared. Sales increased 77% year over year to $59 million in Q3 2021 alone. Building on its success since its IPO last spring, the company announced the acquisition of cross-border selling peer Flow Commerce for up to $500 million (payable in equal parts cash and stock). At the same time, Global-E also paid software giant Shopify a warrant for $70 million worth of its shares for an expansion of their partnership (since Global-E's software integrates with Shopify's ecosystem of selling tools). Global-E revealed that Netflix was one of the first merchants to make use of the software partnership as the TV-streaming leader expands its presence internationally. As fast as Global-E is growing, though, investor over-optimism is being punished. Even after the sharp decline, Global-E is trading for 24 times expected full-year 2021 sales to enterprise value and over 200 times adjusted EBITDA. Now what The Federal Reserve has set the table for a few interest rate hikes in the coming year to try to tame inflation, and high-growth but richly valued stocks are taking it on the chin. Nevertheless, while higher rates are proving to be the catalyst for what was bound to be an eventual sell-off in Global-E, that doesn't change the company's rosy prospects. E-commerce still has a long runway of growth ahead of it, and companies like Global-E that provide the tools to make it all possible could be some of the most profitable ways to invest in digital commerce's development. Expect the company to provide a financial update on Q4 2021 sometime in February. 10 stocks we like better than Global-e Online Ltd.When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Global-e Online Ltd. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of January 10, 2022 Nicholas Rossolillo and his clients own Shopify. The Motley Fool owns and recommends Netflix and Shopify. The Motley Fool recommends the following options: long January 2023 $1,140 calls on Shopify and short January 2023 $1,160 calls on Shopify. The Motley Fool has a disclosure policy.Source