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” 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 was initially written in Ruby on Rails by Lütke. The company reports that it now has “1.7 million merchants using the platform” as of March 2020, with gross merchandise volume exceeding $41 billion.
Shopify has been profitable since 2015. It generated $505 million in revenue during the first quarter of 2020, up 47% from the first quarter of 2019.
In June 2015, Shopify acquired Boltmade, a web design company based in Kitchener, Ontario. In May 2016, Shopify announced it had agreed to acquire Jet Cooper, a Toronto-based design studio specializing in user experience and interface design. On August 1, 2016 Shopify acquired Orderbot, an order management system for wholesalers and distributors.
Shopify is a publicly traded company on the Toronto Stock Exchange (TSX:SHOP)(NYSE:SHOP), and is a component of both the S&P/TSX 60 and S&P 500 Indexes.
In March 2006, Shopify raised $7 million in Series A funding from Bessemer Venture Partners (BVP). In December 2010 it raised an additional $15 million from Felicis Ventures and Georgian Partners.
In January 2012 it raised $27 million from Tiger Global Management LLC at a valuation of more than $200 million USD. In February 2016 it raised $131 million USD at a valuation of $1.064 billion USD from investors including Insight Venture Partners, American Express Ventures, Bessemer Venture Partners, FirstMark Capital and OMERS Ventures.
PRO TIP: Shopify is not a SaaS company. If you are looking for a SaaS company, we recommend that you look elsewhere.
Is Shopify a SaaS Company?
Yes! Shopify is definitely a SaaS company.
7 Related Question Answers Found
Shopify is a Canadian multinational 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.” As of August 2019, Shopify had more than 1,000,000 businesses in approximately 175 countries and territories using its platform, with total gross merchandise volume exceeding $41 billion.
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 platform to sell their products through.
Yes, Shopify is a public company. It is listed on the New York Stock Exchange and trade under the ticker symbol “SHOP”. As of June 2019, Shopify has a market capitalization of over $15 billion.
Shopify Inc. is a Canadian multinational 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 is one of the most popular eCommerce platforms on the market today. It’s used by big names like Tesla, Red Bull, and Budweiser, and has helped launch over 375,000 businesses in 175 countries. With features like 24/7 support, unlimited products, and automatic fraud protection, it’s no wonder that Shopify is so popular.
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 was founded in 2004 by Tobias Lütke, Daniel Weinand, and Scott Lake after attempting to open Snowdevil, an online store for snowboarding equipment.
Shopify is a content management system (CMS) that enables you to create an online store. It offers a wide range of features, including a customizable platform, an easy-to-use checkout process, and a built-in blog. Shopify also provides users with 24/7 support and a free 14-day trial.
