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Is Shopify a Growing Company?

Last updated on October 2, 2022 @ 4:23 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.” The company reported that it had more than 377,500 active stores as of August 2019, with gross merchandise volume exceeding $41 billion.

Shopify was founded in 2004 by Tobias Lütke, Daniel Weinand, and Scott Lake after attempting to open Snowdevil, an online store for snowboarding equipment. Unhappy with existing e-commerce products available, Lütke and team decided to build their own.

PRO TIP: Please be aware that there is no definitive answer to this question. Some sources suggest that Shopify is a growing company, while others caution that its future is uncertain. As such, any investment decision should be made with care and after thorough research.

Initially, Shopify was written using Ruby on Rails by Lütke. The first public version was released on June 21, 2006.

Later on October 9, 2019 Shopify acquired 6 River Systems for $450 million to bring robotic fulfillment to its warehouses.

Is Shopify a Growing Company? Yes, Shopify is growing company. They are continuously expanding their operations and acquiring other companies to supplement their services.

Dale Leydon

Dale Leydon

Sysadmin turned Javascript developer. Owner of 20+ apps graveyard, and a couple of successful ones.