Shopify (SHOP) 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, who were then students at the University of Waterloo. Weinand and Lake dropped out of school to work on the business full-time, while Lütke continued working on the platform part-time until 2006.
In 2012, Shopify received $100 million in Series C funding from Bessemer Ventures. In 2015, it received $131 million in Series D funding from Goldman Sachs. In 2016, Shopify partnered with Amazon.com to enable merchants to sell their products on Amazon.com’s marketplace.
As of September 2020, Shopify has over 1 million active users and is ranked as the second most popular e-commerce platform after WooCommerce. It is used by businesses of all sizes, including brands such as Tesla, Budweiser, Red Bull, GoPro, Nestle, GE, Kylie Cosmetics, and many more.