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Shopify

Shopify is a Canadian multinational e-commerce company that provides a complete platform for online stores and retail point-of-sale systems. Founded by Tobias Lütke in 2006, it now powers over 5 million merchants worldwide.

Technology / E-commerce
1 Episode

The Story

Shopify Inc. is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. Founded in 2006 by Tobias Lütke, Daniel Weinand, and Scott Lake, Shopify provides a complete e-commerce platform that enables merchants to build and manage online stores, process payments, and handle shipping and marketing — all from a single dashboard.

Tobias Lütke, a German programmer and avid snowboarder, originally built Shopify's predecessor software to launch his own online snowboard shop called Snowdevil. Dissatisfied with the e-commerce tools available at the time, he wrote his own. When other merchants began asking to license his software, Lütke and his co-founders pivoted from snowboards to software, launching Shopify in 2006.

The company went public in 2015 at a valuation of $1.27 billion and has since grown into one of the world's largest e-commerce platforms. As of 2024, Shopify serves over 5 million merchants across 175 countries, processed $292.3 billion in gross merchandise volume, and is valued at over $150 billion. Its customers include major brands like Tesla, Netflix, PepsiCo, Nestlé, and Lindt. Shopify also operates Shopify Plus for enterprise merchants, Shopify Payments for financial services, and Shopify Fulfillment Network for logistics.

Key Facts & Metrics

📅 Founded 2006
📍 Ottawa, Ontario, Canada
👥 5,000+
💰 1B+

Products & Services

Shopify E-commerce Platform

Complete e-commerce platform for online stores and retail point-of-sale systems. Used by over 5 million merchants worldwide, processing $292 billion in transactions annually.

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Company Timeline

  • 2004Snowdevil Founded

    Tobias Lütke launches Snowdevil, an online snowboard shop. Dissatisfied with existing e-commerce software, he builds his own.

  • 2006Shopify Launched

    Lütke and co-founders Daniel Weinand and Scott Lake pivot from snowboards to software, launching Shopify as an e-commerce platform.

  • 2010Shopify App Store

    Shopify launches its App Store, enabling third-party developers to build extensions for merchant stores.

  • 2015IPO

    Shopify goes public on the New York Stock Exchange at a valuation of $1.27 billion, marking one of the most successful tech IPOs of the decade.

  • 2021Shopify Fulfillment Network

    Shopify expands into logistics with its Fulfillment Network, competing directly with Amazon on delivery speed.

Episodes Featuring Shopify

Founders Featured