Shopify
Company type | Public |
---|---|
| |
ISIN | CA82509L1076 |
Industry | E-commerce |
Founded | 2006 Ottawa, Ontario, Canada |
Founders |
|
Headquarters | Ottawa, Ontario , Canada |
Area served | Worldwide |
Key people |
|
Services | Online shopping |
Revenue | US$7.06 billion (2023)[1] |
US$132 million (2023)[1] | |
Total assets | US$11.3 billion (2023)[1] |
Total equity | US$9.07 billion (2023)[1] |
Number of employees | c. 8,300 (2023)[2] |
Website | shopify |
Shopify Inc., stylized as shopify, is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. Shopify is the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems.[3] The Shopify platform offers online retailers a suite of services, including payments, marketing, shipping and customer engagement tools.[4]
As of 2023, Shopify hosts 4.6 million stores across 175 countries.[5] According to the company's yearly financial report for 2023, its total revenue reached $7.1 billion. The Gross Merchandise Volume (GMV) for the fourth quarter alone saw a 23% increase, amounting to $75.1 billion.[6] With a market capitalization of $92.12 billion, Shopify is now the third largest publicly traded Canadian company.[7]
History
2006: Founding
Shopify was founded in 2006 by Tobias Lütke and Scott Lake after attempting to open Snowdevil, an online store for snowboarding equipment. Dissatisfied with the existing e-commerce products on the market, Lütke, a computer programmer by trade, instead built his own.[8][9][10] Lütke used the open source web application framework Ruby on Rails to build Snowdevil's online store and launched it after two months of development.[11][12] The Snowdevil founders launched the platform as Shopify in June 2006.[11] Shopify created an open-source template language called Liquid, which is written in Ruby and used since 2006.[13]
In June 2009, Shopify launched an application programming interface (API) platform and App Store. The API allows developers to create applications for Shopify online stores and then sell them on the Shopify App Store.[14]
2010s
In April 2010, Shopify launched a free mobile app on the Apple App Store. The app allows Shopify store owners to view and manage their stores from iOS mobile devices.[15] In 2010, Shopify started its Build-A-Business competition, in which participants create a business using its commerce platform.[16][17] The winners of the competition receive cash prizes and mentorship from entrepreneurs, such as Richard Branson, Eric Ries and others.[17] Shopify was named Ottawa's Fastest Growing Company by the Ottawa Business Journal in 2010.[11] The company received $7 million from an initial series A round of venture capital financing in December 2010.[18][19] Its Series B round raised $15 million in October 2011.[20] In February 2012, Shopify acquired Select Start Studios Inc ("S3"), a mobile software developer, along with 20 of the company's mobile engineers and designers.[21][22] In August 2013, Shopify acquired Jet Cooper, a 25-person design studio based in Toronto.[23]
In August 2013, Shopify announced the launch of Shopify Payments in partnership with Stripe. Shopify Payments allows merchants to accept payments without requiring a third party payment gateway.[24] The company also announced the launch of an iPad-centric point of sale system. It uses an iPad to accept payments from debit cards and credit cards. The company received $100 million in Series C funding in December 2013.[25] By 2014, the platform had hosted approximately 120,000 online retailers,[12][15] and was listed as #3 in Deloitte's Fast50 in Canada, as well as #7 in Deloitte's Fast 500 of North America.[26] Shopify earned $105 million in revenue in 2014, twice as much as it raised the previous year.[27] In February 2014, Shopify released "Shopify Plus" for large e-commerce businesses with access to additional features and support.[28]
On April 14, 2015, Shopify filed for an initial public offering (IPO) on the New York Stock Exchange and Toronto Stock Exchange under the symbols "SHOP" and "SH" respectively.[29][30] Shopify went public on May 21, 2015, and in its debut on the New York Stock Exchange, started trading at $28, more than 60% higher than its US$17 offering price, with its IPO raising more than $131 million.[31][32][33] In September 2015, Amazon.com announced it would be closing its Amazon Webstore service for merchants, and had selected Shopify as the preferred migration provider;[34] Shopify's shares jumped more than 20% upon the news.[35]
In April 2016, Shopify announced Shopify Capital, a cash advance product. Shopify Capital was initially piloted to merchants within the US and allowed merchants to receive an advance on future earnings processed through their payment gateway. Since its launch in 2016, Shopify Capital has provided over $2 billion in funding to Shopify merchants with a maximum advance of $2 million.[36] On October 3, 2016, Shopify acquired Boltmade.[37] In November 2016, Shopify partnered with Paystack which allowed Nigerian online retailers to accept payments from customers around the world.[38] On November 22, 2016, Shopify launched Frenzy, a mobile app that improves flash sales.[39] On December 5, 2016, Shopify acquired Toronto-based mobile product development studio Tiny Hearts. The Tiny Hearts building has been turned into a Shopify research and development office.[40]
In January 2017, Shopify announced integration with Amazon that would allow merchants to sell on Amazon from their Shopify stores.[41] Shopify's stock rose almost 10% upon this announcement.[41] In April 2017, Shopify introduced a Bluetooth enabled debit and credit card reader for brick and mortar retail purchases.[42] The company has since released additional technology for brick and mortar retailers, including a point-of-sale system with a Dock and Retail Stand similar to that offered by Square, and a tappable chip card reader.[43]
Shopify announced a one-click checkout feature called Shopify Pay in April 2017 as an exclusive feature for merchants using Shopify Payments as their payment processor.[44] Customers can save their shipping and payment information for future purchases on all participating Shopify stores. In November 2017 Shopify announced Arrive, a mobile application to help customers track their bought packages from both Shopify merchants and other e-commerce websites.[45]
In September 2018, Shopify announced plans to locate thousands of employees in Toronto's King West neighborhood in 2022 as part of "The Well" complex, jointly owned by Allied Properties REIT and RioCan REIT.[46] In October 2018, Shopify opened their first physical space in Los Angeles.[47] The space offered classes, a "genius bar" for companies that use Shopify software and workshops.[47] Online cannabis sales in Ontario used Shopify's software when the drug was legalized in October 2018. Shopify's software is also used for in-person cannabis sales in Ontario since becoming legal in 2019.[48][49]
In January 2019, Shopify announced the launch of Shopify Studios, a full-service television and film content and production house.[50] On March 22, 2019, Shopify and email marketing platform Mailchimp ended an integration agreement over disputes involving customer privacy and data collection.[51] In April 2019, Shopify announced an integration with Snapchat to allow Shopify merchants to buy and manage Snapchat Story ads directly on the Shopify platform. The company had previously secured similar integration partnerships with Facebook and Google.[52]
In May 2019, Shopify acquired Handshake, a business-to-business e-commerce platform for wholesale goods. The Handshake team was integrated into Shopify Plus, and Handshake founder and CEO Glen Coates was made Director of Product for Shopify Plus.[53] In June 2019, Shopify announced that it would launch its Fulfilment Network. The service promises to handle shipping logistics for merchants and will compete with an established leader, Amazon FBA. Shopify Fulfillment Network will be available to qualifying U.S. merchants in select states.[54]
On August 14, 2019, Shopify launched Shopify Chat, a new native chat function that allows merchants to have real-time conversations with customers visiting Shopify stores online.[55] On September 9, 2019, Shopify announced the acquisition of 6 River Systems, a Massachusetts-based company that makes warehouse robots. The acquisition was finalized in October, resulting in a cash-and-share deal worth US$450 million.[56][57]
2020s
In 2020, the company announced new hires in Vancouver, Canada. Additionally, the effects of the COVID-19 pandemic contributed to lifting stock prices.[58][59]
On February 21, 2020, Shopify announced plans to join the Diem Association, known as Libra Association at the time.[60] On March 11, 2020, during the COVID-19 pandemic, Shopify announced it will shift its entire workforce to remote work.[61]
In February 2020 Shopify Pay was rebranded as Shop Pay[62] and in April 2020 Arrive was rebranded as Shop,[63] combining both customer-facing features under a single brand.
It was reported that Shopify's valuation would likely rise on the back of options it had in the company Affirm that was expecting to go public shortly.[64] In November 2020, Shopify announced a partnership with Alipay to support merchants with cross-border payments.[65]
As a result of Affirm's January 13, 2021 IPO, Shopify's 8% stake in Affirm was worth $2 billion.[66] About half of Shopify's C-level executives left the company in early 2021.[67][68] On June 11, 2021, Shopify announced its acquisition of Primer, an AR app on the App Store that allows users to preview home improvement items digitally.[69] On June 29, 2021, Shopify removed the 20% revenue share for app developers that make less than US$1 million per year.[70]
On March 22, 2022, Shopify introduced Linkpop, a product to create a branded, social marketplace through which merchants can advertise and market their products via links to be added on social media channels.[71] On April 11, 2022, Shopify announced their acquisition of Dovetale, an influencer marketing startup from New York.[72] On April 12, 2022, Shopify, Alphabet Inc., Meta Platforms, McKinsey & Company, and Stripe, Inc. announced a $925 million advance market commitment of carbon dioxide removal from companies that are developing the technology over the next 9 years.[73][74] On January 18, 2022, Shopify announced a partnership with JD.com to let US merchants expand their operations in China, listing their products on JD's cross-border e-commerce platform JD Worldwide.[75]
In June 2022, Shopify partnered with Twitter. As a part of the deal, Twitter announced that it would launch a sales channel app for all of Shopify's U.S. merchants through its app store.[76] Shopify also partnered with PayPal to offer Shopify Payments to merchants in France.[77][78]
On July 26, 2022, Lütke announced immediate layoffs totalling roughly 10 percent of its workforce. In a message to employees, the CEO said the company's planning on growth rates continuing on the trajectory of the past two years "didn't pay off" and forced the company to downsize.[79]
In August 2022, Shopify announced it was making e-commerce marketing automation platform, Klaviyo, the recommended email solution partner for its Shopify Plus merchant platform, with a US$100 million strategic investment into the company.[80][81]
In October 2022, Shopify acquired Remix, a full-stack TypeScript framework that provides "snappy page loads and instant transitions".[82][83]
In May 2023, Shopify laid off approximately 20% of its workforce and sold Shopify Logistics, its in-house logistics arm, to Flexport, which subsequently became the preferred logistics partner for the e-commerce platform.[84][85]
In May 2024, Shopify shares were down by the most in the stock's history after the company reported a surprise loss in first quarter and warned that the sale of the logistics business would shrink revenue growth.[86]
Technology
Shopify was initially built on Ruby on Rails in 2004, using a single MySQL instance. In 2014, Shopify introduced sharding to distribute Shopify to multiple databases. Over the years, Shopify later moved to fully isolated instances.[87]
Shopify maintains Hydrogen, an open-source headless JavaScript stack created in 2021, for its client-facing storefront applications.[88] Developers are able to deploy their Hydrogen applications to Oxygen, Shopify's managed hosting and content delivery network. Hydrogen is built on top of the React library for client-side JavaScript, and Remix for its server-side routing capabilities.[89]
Marketshare
As of 2024, an estimated 20% to 32% of all eCommerce websites in the world use Shopify.[90][91][92][93][94][95] This put it in pole position ahead of major competitors including Squarespace, Wix, and WooCommerce on WordPress.
Shopify App Store
Shopify launched an app store on June 2, 2009.[96] By 2024, the app store had over 10,000 apps available.[97] As of 2021, a typical Shopify merchant used six apps to manage their business and, in 2020, Shopify app partners collectively earned over $230 million on the platform.[98]
In 2021, Shopify announced that it would cut its commission on the first million dollars earned by developers in its app store to 0% following similar moves by Apple, Google, and Amazon.[99] In 2022, Shopify partnered with Twitter to allow merchants to sell products via those social media apps.[100] This followed a similar offering with TikTok in 2020.[101] TikTok discontinued this service in 2023.[102] Other apps on the service include one from Roku, the streaming service, which aims to allow users to make purchases without leaving the streaming experience and one from FedEx which helps shops fulfill internationally.[103][104][105]
In 2024, Shopify acquired Checkout Blocks which had been one of its most popular marketplace apps.[106] This followed a 2016 acquisition of Kit CRM, an app was designed to help merchants manage their stores.[107]Klaviyo, the public company providing a marketing automation platform, was originally launched on the Shopify app store in 2012 and received a $100 million strategic investment from Shopify in 2022.[97][108]
Esports
In February 2021, Shopify announced that the company has formed an esports organization called Shopify Rebellion,[109] and put together a professional StarCraft II team to compete in international tournaments.[110] The team members include former 2016 world champion "ByuN" (Byun Hyun-woo) as well as "Scarlett" (Sasha Hostyn).[111][112]
In September 2023, Shopify Rebellion announced it had purchased Team SoloMid's spot in the LCS, the main North American League of Legends esports competition.[113]
Last-mile logistics
In April 2021, Shopify made its first entry in last-mile logistics by investing in Swyft, a Toronto-based digital logistics startup.[114] As part of a Series A round of funding, a total of $17.5 million was raised for Swyft, co-led by Inovia Capital and Forerunner Ventures with participation from Shopify.[115]
On May 5, 2022, Shopify announced their acquisition of Deliverr, a San Francisco, California-based ecommerce fulfilment startup, for US$2.1 billion in cash and stock.[116][117]
In May 2023, Shopify wound down its logistics business, selling off its prior related acquisitions Deliverr and 6 River Systems to Flexport and Ocado Group respectively.[118] As part of the Flexport deal, Shopify received a 13% stake in it, besides making Flexport its official logistics partner.[119]
Criticism
In 2017, the #DeleteShopify hashtag campaign called for a boycott of Shopify for allowing Breitbart News to host a shop on its platform.[120][121][122] Shopify's CEO, Tobias Lütke, responded to the criticism,[123] saying "refusing to do business with the site would constitute a violation of free speech".[124][125]
In October 2017, Citron Research founder, short-seller Andrew Left released a report which claimed Shopify was overstating the number of merchants using the e-commerce platform and described it as a "get-rich-quick" scheme in contravention of Federal Trade Commission regulations.[126][127] The day the report was released, the stock plunged more than 11%.[128] Left wrote another report about Shopify in April 2019, stating he believed Shopify's stock price would come down 50% in the next 12 months.[129] In January 2020, Left announced in his annual letter to investors that Citron Research had exited the short position. The reports did not lead to an investigation into Shopify by the FTC.[130]
In July 2022, Shopify was criticized by left-leaning media watchdog Media Matters for hosting the online store of far-right, anti-LGBT influencer Libs of TikTok.[131][132] In response to Media Matters, a Shopify spokesperson stated that Libs of TikTok was not in violation of the company's Acceptable Use Policy, which "clearly outlines the activities that are not permitted on [the] platform."[132] In November 2022, this criticism was renewed when an article published by the Canadian Broadcasting Corporation (CBC) highlighted Ottawa City Council member Ariel Troster's criticism of the company in light of a recent shooting at an LGBTQ nightclub.[133] Sharing the CBC article, Nandini Jammi of Check My Ads criticized Shopify on Twitter.[134][131] In response to Jammi, CEO Tobias Lütke tweeted, "Shopify has a published acceptable use policy and a principled process to apply it. Pressure groups on all sides try to influence it sometimes and CBC needs to see through that not amplify bad faith narrative."[135][131]
Lawsuits
In December 2021, a group of publishers including Pearson Education, Inc., Macmillan Learning, Cengage Learning, Inc., Elsevier Inc., and McGraw Hill sued Shopify claiming that it had failed to remove listings and stores selling pirated copies of their books and learning materials.[136] The lawsuit was settled "amicably" out of court; the details were not disclosed.[137]
A class-action lawsuit for $130 million was filed in May 2023 by employees who had been laid off.[138]
In June 2023 Shopify announced a fight against "patent trolls" who "stealthily orchestrate hundreds of patent litigation cases yearly", and filed a lawsuit.[139]
Data breach
In September 2020, Shopify confirmed a data breach in which customer data from fewer than 200 merchants was stolen. One of those merchants later said over 4,900 of their customers alone had had their information accessed. Shopify claims that the data stolen included names, addresses and order details, but not "complete payment card numbers or other sensitive personal or financial information." Shopify said that there was no evidence that the data had been misused, and identified two "rogue members" of its support team as having been responsible. They were fired, and the matter was forwarded to the United States Federal Bureau of Investigation.[140]
See also
References
- ^ a b c d "Shopify Inc. 2023 Annual Report (Form 40-F)". U.S. Securities and Exchange Commission. February 13, 2024. Archived from the original on February 14, 2024.
- ^ "Shopify Inc. 2023 Annual Information Form". U.S. Securities and Exchange Commission. February 13, 2024.
- ^ Bradbury, Danny. Hands-off business a reality Archived November 29, 2020, at the Wayback Machine The Financial Post. April 21, 2008.
- ^ McLeod, James. "Shopify holds a healthy chunk of pot sales' upside, says COO." The Financial Post. October 30, 2018, p. 2.
- ^ "Shopify Usage Statistics". BuiltWith. Retrieved April 12, 2024.
- ^ "Shopify Announces Fourth Quarter and Full Year 2023 Financial Results". Shopify. Retrieved April 12, 2024.
- ^ "Largest Companies in Canada by Market Cap". CompaniesMarketCap. Retrieved April 12, 2024.
- ^ Cole, Trevor (November 27, 2014). "Our Canadian CEO of the year you've probably never heard of". Globe & Mail. Archived from the original on May 4, 2020. Retrieved March 4, 2015.
- ^ Whittaker, Stephanie. The Web as a safety net Archived May 6, 2021, at the Wayback Machine The Montreal Gazette. May 4, 2009.
- ^ Donnelly, Jim. Shopify picks up $7M in venture funding Archived March 3, 2016, at the Wayback Machine Ottawa Business Journal. December 13, 2010.
- ^ a b c Donnelly, Jim. Fastest Growing Companies Archived November 7, 2019, at the Wayback Machine Ottawa Business Journal. May 3, 2010.
- ^ a b Duryee, Tricia. E-Commerce Assistant Shopify Raises $7 Million in First Round Archived August 7, 2020, at the Wayback Machine All Things Digital. December 13, 2010.
- ^ "Liquid template language". Liquid template language. Archived from the original on March 12, 2016. Retrieved October 7, 2021.
- ^ Duncan, Katherine (March 12, 2012). "How Shopify Became the Go-To E-commerce Platform for Startups". Entrepreneur. Archived from the original on February 28, 2015. Retrieved March 4, 2015.
- ^ a b Rip Empson (April 11, 2013). "After 7 Years & 50K Storefronts Created, Shopify Launches Major Redesign To Simplify Online Store-Building". TechCrunch. Archived from the original on August 7, 2017. Retrieved June 25, 2017.
- ^ Kolodny, Lora. Maker of iPad Cases Wins Shopify Competition Archived June 7, 2022, at the Wayback Machine The New York Times. July 19, 2010.
- ^ a b Rip Empson for TechCrunch. July 10, 2012 Shopify Teams Up With Tim Ferriss, Eric Ries, FUBU Founder To Help You Build A $1M eCommerce Biz Archived July 7, 2017, at the Wayback Machine
- ^ Lewis, Rob. Ottawa's Shopify raises $7 Million Series A Funding from Bessemer, FirstMark, and Felicis Archived June 14, 2020, at the Wayback Machine. December 13, 2010.
- ^ McLeod, Mark. Shopify Gets Fundified! Archived February 3, 2021, at the Wayback Machine StartupCFO. December 12, 2010.
- ^ Duryee, Tricia (October 17, 2011). "Shopify Picks Up $15 Million as It Faces New Competition From eBay". StartupCFO. Archived from the original on October 7, 2015. Retrieved October 18, 2011.
- ^ Rao, Leena (February 1, 2012). "E-commerce Platform Shopify Acquires Mobile App Development Studio Select Start". TechCrunch. Archived from the original on February 18, 2015. Retrieved March 4, 2015.
- ^ Berkow, Jameson (February 1, 2012). "Ottawa tech merger: Shopify buys Select Start Studios". Financial Post. Archived from the original on June 20, 2020. Retrieved March 4, 2015.
- ^ Lindzon, Jared (August 1, 2013). "Shopify acquires design agency Jet Cooper". BetaKit. Archived from the original on December 2, 2014. Retrieved March 4, 2015.
- ^ Etherington, Darrell (August 12, 2013). "Shopify Debuts Fully Integrated Credit Card Payment Processing For Its E-Commerce Platform". TechCrunch. Archived from the original on June 22, 2022. Retrieved January 22, 2023.
- ^ Etherington, Darrell (December 12, 2013). "Shopify Raises $100M To Drop The 'E' And Become The Commerce Company That Spans On- And Offline". Archived from the original on January 15, 2014. Retrieved December 13, 2013.
- ^ Louis Columbus (November 20, 2014). "Software Companies Are Dominating Deloitte's Technology Fast 500". Forbes. Archived from the original on February 4, 2015. Retrieved February 5, 2015.
- ^ Reader, Ruth (May 21, 2015). "Shopify pops 65% on the NYSE, starts trading above $28 per share". VentureBeat. Archived from the original on September 19, 2015. Retrieved August 20, 2015.
- ^ "Shopify Launches Shopify Plus, A New White Glove E-Commerce Solution For Big Brands". TechCrunch. February 5, 2014. Archived from the original on March 17, 2023. Retrieved April 22, 2020.
- ^ "E-Commerce Software Maker Shopify Files for IPO". April 14, 2015. Archived from the original on April 16, 2015. Retrieved April 14, 2015.
- ^ Kokalitcheva, Kia (April 14, 2015). "E-commerce company Shopify files for initial public offering". Fortune. Archived from the original on August 13, 2015. Retrieved August 20, 2015.
- ^ Armental, Maria (April 14, 2015). "Canadian Software Company Shopify Files for U.S.-Canada IPO". Wall Street Journal. Archived from the original on August 19, 2015. Retrieved August 20, 2015.
- ^ "Tech IPO Scorecard: Shopify Skyrockets 51%, While Baozun Rises A Slimmer 4.6%". May 21, 2015. Archived from the original on March 17, 2023. Retrieved August 19, 2022.
- ^ Abelson, Jeremy; Narasin, Ben (May 21, 2015). "IPO Scorecard: Shopify is another point against bubble proponents". VentureBeat. Archived from the original on June 10, 2015. Retrieved August 20, 2015.
- ^ "Shares in Shopify Jump 23% Following Integration with Amazon". September 19, 2015. Archived from the original on March 18, 2016. Retrieved September 21, 2015.
- ^ Dingman, Shane (September 17, 2015). "Shopify's stock soars on news of Amazon partnership". The Globe and Mail. Archived from the original on January 6, 2017. Retrieved December 20, 2017.
- ^ "Making Money Moves: Shopify Capital funded $2 billion for entrepreneurs". April 28, 2021. Archived from the original on December 7, 2021. Retrieved December 7, 2021.
- ^ "Shopify acquires product design firm Boltmade to boost Shopify Plus". TechCrunch. October 3, 2016. Archived from the original on October 4, 2016. Retrieved October 3, 2016.
- ^ "Nigerian Merchants With Shopify Accounts Can Now Accept Payments Via Paystack | TechCabal". November 14, 2016. Archived from the original on November 17, 2016. Retrieved November 18, 2016.
- ^ "Shopify's experimental product shop launches flash sales app Frenzy". TechCrunch. November 22, 2016. Archived from the original on November 23, 2016. Retrieved November 22, 2016.
- ^ Jama, Robleh (December 5, 2016). "We're Joining Shopify". Tiny Hearts studio. Retrieved January 24, 2017.[permanent dead link ]
- ^ a b "Shopify's E-commerce Revolution". Fortune. Archived from the original on May 19, 2017. Retrieved April 24, 2017.
- ^ Rao, Leena (April 20, 2017). "Shopify Takes on Square With New Credit Card Reader". Fortune. Archived from the original on June 1, 2017. Retrieved June 4, 2017.
- ^ "Shopify unveils a new lineup of retail hardware". TechCrunch. April 25, 2019. Archived from the original on August 19, 2022. Retrieved May 10, 2019.
- ^ Etherington, Darrell (April 20, 2017). "Shopify Pay aims to complete the picture for online checkout". TechCrunch. Archived from the original on January 22, 2023. Retrieved January 22, 2023.
- ^ Etherington, Darrell (November 29, 2017). "Shopify's new Arrive app is your package tracking pal". TechCrunch. Archived from the original on January 22, 2023. Retrieved January 22, 2023.
- ^ O'Kane, Josh (September 27, 2018). "Shopify will invest up to $500-million in new Toronto office". The Globe and Mail. Archived from the original on October 2, 2018. Retrieved October 2, 2018.
- ^ a b Ellingson, Annlee (October 11, 2018). "Shopify goes to L.A. to open its first physical location, seeking to help businesses grow". LA Biz. Archived from the original on May 13, 2021. Retrieved April 15, 2020.
- ^ "Ontario Chooses Shopify to Run Online Cannabis Sales". CBC. February 12, 2018. Archived from the original on October 2, 2018. Retrieved October 18, 2018.
- ^ "Pot is Now Legal in Ontario. Here's What You Need to Know". CBC. October 17, 2018. Archived from the original on October 18, 2018. Retrieved October 18, 2018.
- ^ Chen, I-Chun (January 24, 2019). "Shopify launches TV and film production studio focused on entrepreneurs". Archived from the original on October 29, 2020. Retrieved January 24, 2019.
- ^ "Mailchimp and Shopify break up". TechCrunch. March 22, 2019. Archived from the original on August 19, 2022. Retrieved May 29, 2019.
- ^ Graham, Megan (April 29, 2019). "Snap, Shopify partner for small business advertising tool". www.cnbc.com. Archived from the original on May 10, 2019. Retrieved May 10, 2019.
- ^ "Shopify quietly acquired Handshake, an e-commerce platform for B2B wholesale purchasing". TechCrunch. May 23, 2019. Archived from the original on August 19, 2022. Retrieved May 29, 2019.
- ^ "Shopify Is Setting Up Fulfillment Network in U.S., Just Like Amazon". Bloomberg.com. June 19, 2019. Archived from the original on August 1, 2019. Retrieved July 31, 2019.
- ^ "Shopify adds native chat function to Ping app". Zdnet. August 14, 2019. Archived from the original on June 6, 2020. Retrieved August 22, 2019.
- ^ "Deals of the Year – Tech: Shopify feeling fulfilled with $450M acquisition | Ottawa Business Journal". obj.ca. December 16, 2019. Archived from the original on December 17, 2019. Retrieved January 9, 2020.
- ^ Innovation (January 7, 2020). "Shopify puts late 2019 swoon behind it as shares hit new all-time high | Financial Post". Financial Post. Archived from the original on January 8, 2020. Retrieved January 9, 2020.
- ^ "Shopify to boost Vancouver presence with 1,000 hires, new permanent office | Financial Post". Financial Post. Archived from the original on July 26, 2020. Retrieved July 26, 2020.
- ^ "Shopify's biggest bull says pandemic to lift stock to US$1,000". BNN Bloomberg. June 18, 2020. Archived from the original on June 25, 2020. Retrieved July 26, 2020.
- ^ Pollock, Darryn. "Shopify Joins Libra Association After Raft Of Departures". Forbes. Archived from the original on February 25, 2020. Retrieved February 25, 2020.
- ^ Poli, David (March 11, 2020). "Shopify going fully remote as Ottawa tech firms brace for COVID-19 impacts". Ottawa Business Journal. Archived from the original on March 22, 2020. Retrieved March 22, 2020.
- ^ "Shopify Pay gets a new name, logo". MixDex. February 15, 2020. Archived from the original on November 11, 2021. Retrieved November 11, 2021.
- ^ Ha, Anthony (April 28, 2020). "Shopify launches Shop, a new mobile app". TechCrunch. Archived from the original on January 22, 2023. Retrieved January 22, 2023.
- ^ "Shopify poised for up to $500M US windfall from stake in payment firm Affirm about to go public in IPO | CBC News". CBC. Archived from the original on November 22, 2020. Retrieved November 22, 2020.
- ^ "Shopify launches partnership with Alipay to support merchants with cross-border payments". thepaypers.com. Archived from the original on November 30, 2020. Retrieved December 14, 2020.
- ^ Levy, Ari (January 13, 2021). "Shopify just made a $2 billion windfall on Affirm IPO, six months after their partnership". CNBC. Archived from the original on January 19, 2021. Retrieved January 18, 2021.
- ^ Silcoff, Sean (April 14, 2021). "Shopify executive exodus continues as nearly half of C-level team set to leave company". The Globe and Mail. Archived from the original on June 22, 2021. Retrieved June 19, 2021.
- ^ "Why Shopify's Stock Dropped 13.6% in March". April 7, 2021. Archived from the original on November 27, 2021. Retrieved November 27, 2021.
- ^ "Shopify brings on team from augmented reality home design app Primer". June 11, 2021. Archived from the original on June 29, 2021. Retrieved June 29, 2021.
- ^ "All of the Announcements From Shopify Unite 2021". June 29, 2021. Archived from the original on January 31, 2022. Retrieved March 21, 2022.
- ^ "Shopify launches new 'Linkpop' link in bio tool with built-in e-commerce features". TechCrunch. March 22, 2022. Archived from the original on August 19, 2022. Retrieved May 17, 2022.
- ^ "Shopify acquires influencer marketing startup Dovetale". Ecommerce News. April 13, 2022. Archived from the original on April 21, 2022. Retrieved May 12, 2022.
- ^ Clifford, Catherine (April 12, 2022). "Stripe teams up with major tech companies to commit $925 million toward carbon capture". CNBC. Archived from the original on June 30, 2022. Retrieved July 6, 2022.
- ^ Brigham, Katie (June 28, 2022). "Why Big Tech is pouring money into carbon removal". CNBC. Archived from the original on July 9, 2022. Retrieved July 6, 2022.
- ^ "Shopify, JD.com pair up in China as e-commerce competition intensifies". Reuters. January 18, 2022. Archived from the original on May 17, 2022. Retrieved May 17, 2022.
- ^ "Twitter partners with Shopify to bring merchants' products to Twitter Shopping". TechCrunch. June 22, 2022. Archived from the original on June 29, 2022. Retrieved June 23, 2022.
- ^ "Shopify s'allie à PayPal pour lancer sa propre solution de paiement". Les Echos (in French). June 28, 2022. Archived from the original on March 10, 2023. Retrieved March 10, 2023.
- ^ "Shopify Payments Terms of Service - France". Shopify. Archived from the original on March 10, 2023. Retrieved March 10, 2023.
- ^ Thorbecke, Catherine (July 26, 2022). "Shopify to cut 10% of staff after making 'wrong' bet about pandemic online shopping boom". CNN. Archived from the original on July 26, 2022. Retrieved July 26, 2022.
- ^ "Klaviyo and Shopify Announce Strategic Partnership". Business Wire. August 2, 2022. Archived from the original on August 3, 2022. Retrieved August 2, 2022.
- ^ "Shopify makes $100M strategic investment in marketing automation startup Klaviyo". Techcrunch. August 2, 2022. Archived from the original on August 3, 2022. Retrieved August 2, 2022.
- ^ Almaer, Dion (October 31, 2022). "Mixing It Up: Remix Joins Shopify to Push the Web Forward". Shopify. Retrieved March 28, 2024.
- ^ "Remix - Build Better Websites". Remix. Retrieved March 28, 2024.
Remix is a seamless server and browser runtime that provides snappy page loads and instant transitions by leveraging distributed systems and native browser features instead of clunky static builds.
- ^ "Important Team and Business Changes". Shopify News. May 13, 2023. Archived from the original on May 14, 2023. Retrieved May 13, 2023.
- ^ "How Shopify Bungled Its Latest Layoffs and Made Employees Feel Like NPCs". TechCrunch. May 4, 2023. Archived from the original on May 14, 2023. Retrieved May 13, 2023.
- ^ Olakoyenikan, Segun. "Shopify Shares Plunge 20% In Company's Worst-Ever Trading Day After E-Commerce Giant Warns Of Sales Slowdown". Forbes. Retrieved June 6, 2024.
- ^ "E-Commerce at Scale: Inside Shopify's Tech Stack - Stackshare.io". Shopify. Archived from the original on March 6, 2023. Retrieved March 6, 2023.
- ^ "Hydrogen". Shopify. Retrieved April 11, 2024.
- ^ "Remixing Shopify". remix.run. Retrieved April 11, 2024.
- ^ "Woocommerce Vs Shopify: Market Share Insights for 2024".
- ^ "23 Essential Shopify Statistics You Need to Know in 2024"
- ^ "How Popular is Shopify? 2024 Shopify Usage Statistics".
- ^ "Shopify Statistics 2024: UPDATED Facts, Market Share & More".
- ^ "Shopify Market Share and Usage Statistics".
- ^ "eCommerce technologies Web Usage Distribution in United States". trends.builtwith.com. Retrieved June 6, 2024.
- ^ "The Story of the New Shopify App Store". Shopify. Retrieved June 6, 2024.
- ^ a b Stone, Madeline. "The Shopify app store is becoming more competitive amid rising costs: 'People are fighting it out on the margins'". Business Insider. Retrieved June 6, 2024.
- ^ "'Developers have what they need': How Shopify's app ecosystem boosted its core business". Digiday. March 10, 2021. Retrieved June 10, 2024.
- ^ Perez, Sarah (June 29, 2021). "Shopify drops its App Store commissions to 0% on developers' first million in revenue". TechCrunch. Retrieved June 6, 2024.
- ^ Perez, Sarah (June 22, 2022). "Twitter partners with Shopify to bring merchants' products to Twitter Shopping". TechCrunch. Retrieved June 6, 2024.
- ^ Perez, Sarah (October 27, 2020). "TikTok partners with Shopify on social commerce". TechCrunch. Retrieved June 6, 2024.
- ^ "TikTok forces creators to use TikTok Shop by removing all competition on the app". ZDNET. Retrieved June 6, 2024.
- ^ Olsen, Grant (February 15, 2024). "The 10 Best Shopify Apps of 2024". Foundr. Retrieved June 10, 2024.
- ^ Cosgrove, Emma. "FedEx's Shopify strategy could prove costly as e-commerce cools and logistics firms fight over small business, analysts say". Business Insider. Retrieved June 10, 2024.
- ^ Forristal, Lauren (July 11, 2023). "Roku users can buy products from Shopify merchants with their TV remote". TechCrunch. Retrieved June 11, 2024.
- ^ Forristal, Lauren (June 3, 2024). "Shopify acquires Checkout Blocks, a checkout customization app". TechCrunch. Retrieved June 7, 2024.
- ^ "Shopify acquires Kit CRM to bolster bot-based messaging for merchants". ZDNET. Retrieved June 7, 2024.
- ^ Wiggers, Kyle (August 2, 2022). "Shopify makes $100M strategic investment in marketing automation startup Klaviyo". TechCrunch. Retrieved June 11, 2024.
- ^ "Shopify Rebellion". shopifyrebellion.gg. Archived from the original on August 14, 2021. Retrieved August 14, 2021.
- ^ Daniel, Joshua (February 20, 2021). "Shopify has a new StarCraft II esports team; because the CEO loves the game - MEGPlay". Archived from the original on February 20, 2021. Retrieved February 20, 2021.
- ^ "The 'StarCraft II' nerds at Shopify now have an esports team". finance.yahoo.com. February 19, 2021. Archived from the original on February 20, 2021. Retrieved February 20, 2021.
- ^ "StarCraft: Shopify Enters Esports with Shopify Rebellion". February 20, 2021. Archived from the original on February 20, 2021. Retrieved March 2, 2021.
- ^ Peters, Jay (September 20, 2023). "Iconic League of Legends team TSM replaced by Shopify in pro league". Retrieved September 21, 2023.
- ^ "Inovia, Shopify back delivery startup Swyft in $22 million Series A round | BetaKit". April 7, 2021. Archived from the original on April 8, 2021. Retrieved April 8, 2021.
- ^ "Swyft raises $17.5 million to bring same-day delivery to all the retailers that aren't Amazon". TechCrunch. April 7, 2021. Archived from the original on August 19, 2022. Retrieved April 8, 2021.
- ^ "Shopify acquires shipping logistics startup Deliverr for $2.1B". TechCrunch. May 5, 2022. Archived from the original on August 19, 2022. Retrieved May 5, 2022.
- ^ Durrani, Temur (May 5, 2022). "Shopify shares drop on earnings forecast; acquisition of Deliverr set for US$2.1-billion". The Globe and Mail. Archived from the original on May 5, 2022. Retrieved May 5, 2022.
- ^ "Shopify sells shipping service firm Deliverr, other assets amid narrowing ambitions". The Economic Times. May 4, 2023. ISSN 0013-0389. Archived from the original on May 4, 2023. Retrieved May 4, 2023.
- ^ Hadero, Haleluya (May 4, 2023). "Shopify narrowing its ambition, sells Deliverr, cuts staff". Associated Press. Archived from the original on May 11, 2023. Retrieved May 5, 2023.
- ^ Alba, Davey (February 12, 2017). "Shopify's Breitbart Fight Proves It: These Days, Tech Has to Take a Side". Wired. Archived from the original on September 5, 2017. Retrieved September 5, 2017.
- ^ Pearson, Jordan (February 7, 2017). "People Are Calling For a Shopify Boycott Because It Hosts Breitbart's Store". Vice. Archived from the original on September 5, 2017. Retrieved September 5, 2017 – via Motherboard.
- ^ Silcoff, Sean (February 9, 2017). "Shopify caught in political crossfire over refusal to drop Breitbart webstore". The Globe and Mail. Archived from the original on March 17, 2023. Retrieved September 5, 2017.
- ^ Etherington, Darrell (February 9, 2017). "Shopify CEO attempts to defend continued hosting of Breitbart's online store". TechCrunch. Archived from the original on September 5, 2017. Retrieved September 5, 2017.
- ^ Tess Townsend (February 8, 2017). "Breitbart gets to keep using Shopify to sell its merchandise". Recode. Archived from the original on July 4, 2017. Retrieved June 30, 2021.
- ^ Captain, Sean (February 23, 2017). "Shopify, Breitbart, And The B2B Boycotts That Are Dragging Brands Into Politics". Fast Company. Archived from the original on September 5, 2017. Retrieved September 5, 2017.
- ^ "Shopify's CEO calls out Citron's Andrew Left as 'short-selling troll' - Article - BNN". BNN. October 11, 2017. Archived from the original on December 1, 2017. Retrieved November 27, 2017.
- ^ "Short seller Andrew Left says he's found a 'business dirtier than Herbalife'". Business Insider. Archived from the original on November 9, 2017. Retrieved November 27, 2017.
- ^ "Ignore Citron Report and Use This Dip to Buy Shopify Inc (US) (SHOP) Stock". Archived from the original on September 20, 2018. Retrieved November 27, 2017.
- ^ Curran, Kevin (April 4, 2019). "Shopify Shares Fall Fast Following Report From Short Seller". RealMoney. Archived from the original on October 26, 2019. Retrieved October 30, 2019.
- ^ Litalien, Mat (January 11, 2020). "Shopify's (SHOP) Stock Price Soars As Short Seller Throws in the Towel". The Motley Fool Canada. Archived from the original on January 11, 2020. Retrieved March 12, 2023.
- ^ a b c Beer, Jeff (December 1, 2022). "Shopify is under fresh fire for hosting anti-LGBTQ merchandise from Libs of TikTok". Fast Company. Archived from the original on February 23, 2023. Retrieved February 22, 2023.
- ^ a b Carter, Camden (July 22, 2022). "Shopify is allowing anti-LGBTQ "Libs of TikTok" to sell merchandise on its platform". Media Matters for America. Archived from the original on February 23, 2023. Retrieved February 23, 2023.
- ^ Tunney, Joseph (November 25, 2022). "Shopify won't cut ties with controversial Libs of TikTok". Canadian Broadcasting Corporation. Archived from the original on February 28, 2023. Retrieved February 22, 2023.
- ^ Jammi, Nandini (November 25, 2022). "Multiple sources have reached out to me..." Twitter. Archived from the original on February 5, 2023. Retrieved February 23, 2023.
- ^ Lütke, Tobi (November 26, 2022). "Shopify has a published acceptable use policy..." Twitter. Archived from the original on March 15, 2023. Retrieved February 23, 2023.
- ^ Sato, Mia (December 1, 2021). "Shopify has a "textbook pirate" problem, publishers allege". The Verge. Archived from the original on December 26, 2021. Retrieved December 26, 2021.
- ^ Brittain, Blake (October 4, 2022). "Shopify settles textbook publishers' lawsuit over alleged piracy". Reuters. Archived from the original on June 18, 2023. Retrieved June 18, 2023.
- ^ Deschamps, Tara (May 30, 2023). "Shopify faces class-action lawsuit over severance offered to recently laid off staff". The Globe and Mail. Archived from the original on June 18, 2023. Retrieved June 18, 2023.
- ^ "Shopify launches fight against 'patent trolls' and their funders, files Texas lawsuit". Coast Reporter. June 7, 2023. Archived from the original on June 18, 2023. Retrieved June 18, 2023.
- ^ Whittaker, Zack (September 23, 2020). "Shopify says two support staff stole customer data from sellers". TechCrunch. Archived from the original on March 17, 2023.
External links
- Business data for Shopify Inc. Class A Subordinate Voting Shares:
- S&P/TSX 60
- 2015 initial public offerings
- Canadian brands
- Canadian companies established in 2006
- Companies based in Ottawa
- Companies listed on the Toronto Stock Exchange
- Internet properties established in 2006
- Multinational companies headquartered in Canada
- Point of sale companies
- Retail companies established in 2006
- Self-publishing companies
- Self-publishing online stores
- Web applications
- Online marketplaces of Canada
- E-commerce software