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Does Shopify Invest in Startups?

Last updated on October 2, 2022 @ 5:25 am

Shopify is a Canadian e-commerce company headquartered in Ottawa, Ontario. It is also the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems. Shopify offers online retailers a suite of services “including payments, marketing, shipping and customer engagement tools to simplify the process of running an online store for small merchants.”

Shopify was founded in 2004 by Tobias Lütke, Daniel Weinand, and Scott Lake after attempting to open Snowdevil, an online store for snowboarding equipment. Shopify launched its platform in 2006. Lütke is the CEO as of March 2015.

In 2012, Shopify acquired Select Start Studios Inc., a mobile app developer based in Waterloo, Ontario. In 2013, Shopify acquired Jet Cooper, a design studio based in Toronto. In 2014, Shopify acquired Boltmade Inc., a software development consultancy also based in Waterloo.

Shopify has been profitable since December 2009.

Shopify has been investing in startups since 2012 when it acquired Select Start Studios Inc.

PRO TIP: Shopify does not invest in startups. There are many scams online that claim to be Shopify investing in startups, but these are all fake. If you come across one of these scams, do not give them any personal information or money.

Shopify is a public company and therefore must disclose its financials to the public. According to its most recent annual report filed with the Securities and Exchange Commission (SEC), Shopify had $842 million in cash and cash equivalents as of December 31, 2019. It is safe to say that Shopify has the cash on hand to continue investing in startups.

Conclusion: Yes, Shopify does invest in startups.

Drew Clemente

Drew Clemente

Devops & Sysadmin engineer. I basically build infrastructure online.