# Shopify

> Canadian e-commerce company

**Wikidata**: [Q7501150](https://www.wikidata.org/wiki/Q7501150)  
**Wikipedia**: [English](https://en.wikipedia.org/wiki/Shopify)  
**Source**: https://4ort.xyz/entity/shopify

## Summary  
Shopify is a Canadian e-commerce company founded in 2006 by Tobias Lütke, known for its shopping cart software and online marketplace platform. It is a public company listed on the NASDAQ and Toronto Stock Exchange, serving over 4 million businesses globally as of 2023. Shopify’s tools enable merchants to design, set up, and manage online stores, democratizing access to e-commerce.

## Key Facts  
- **Founded**: 2006 by Tobias Lütke.  
- **Headquarters**: Ottawa, Canada.  
- **Stock Exchanges**: Listed on NASDAQ (SHOP) and Toronto Stock Exchange (SHOP.TO).  
- **Employees**: 10,000 (2023), up from 8,300 in prior years.  
- **Revenue**: $3.231 billion (2020).  
- **Net Profit**: $2.914 billion (2020).  
- **Subsidiaries**: Shopify Capital, Shopify Fulfillment Network.  
- **Industry Classifications**: E-commerce, business software, online marketplace.  
- **Platforms**: Supports Android and iOS.  
- **Related Entities**: Partnered with Android, affiliated with the Business Software Alliance.  
- **Membership**: Part of the NASDAQ-100 index.  
- **Founders**: Tobias Lütke (CEO), Daniel Weinand, Scott Lake.  
- **IPO**: 2015.  
- **Programming Languages**: Utilizes Ruby on Rails.  
- **Open-Source Contributions**: Maintains open-source projects like Shopify App Bridge.  

## FAQs  
**When was Shopify founded?**  
Shopify was founded in 2006 by Tobias Lütke, Daniel Weinand, and Scott Lake.  

**Where is Shopify based?**  
The company is headquartered in Ottawa, Canada.  

**What is Shopify known for?**  
It provides e-commerce software and tools for businesses to create and manage online stores, serving over 4 million merchants globally.  

**Is Shopify a public company?**  
Yes, Shopify is publicly traded on the NASDAQ (SHOP) and Toronto Stock Exchange (SHOP.TO).  

**Who leads Shopify?**  
Tobias Lütke serves as CEO and chairman.  

**What technologies does Shopify use?**  
Shopify’s platform supports Android and iOS, with backend infrastructure built using Ruby on Rails.  

**What organizations is Shopify affiliated with?**  
It is a member of the NASDAQ-100 index and affiliated with the Business Software Alliance.  

## Why It Matters  
Shopify revolutionized e-commerce by providing accessible, user-friendly tools for businesses of all sizes to establish online presence. Its platform eliminated technical barriers, enabling small businesses to compete globally. As a public company, Shopify’s growth reflects its critical role in the digital economy, powering millions of businesses and influencing retail trends. Its integration with platforms like Android expanded its reach, while its open-source contributions foster innovation in the tech community. Shopify’s impact extends beyond software, shaping modern entrepreneurship and consumer behavior.

## Notable For  
- Leading global e-commerce platform with over 4 million merchants.  
- Rapid growth from startup to NASDAQ-100 inclusion.  
- Open-source contributions and developer-friendly tools.  
- Partnerships with major tech platforms like Android.  
- CEO Tobias Lütke’s dual expertise in software development and entrepreneurship.  
- Expansion into financial services (Shopify Capital) and logistics (Shopify Fulfillment Network).  

## Body  

### History  
Shopify was founded in 2006 by Tobias Lütke, Daniel Weinand, and Scott Lake as an online snowboard store called Snowdevil. Lütke developed the platform after struggling to find suitable e-commerce tools, leading to the launch of Shopify as a standalone company. The platform quickly gained traction, and Shopify went public in 2015 with an IPO raising $131 million. By 2023, it served over 4 million businesses, including major brands like Gymshark and Allbirds.  

### Corporate Structure  
- **Headquarters**: Ottawa, Canada, with offices in Toronto, Montreal, and internationally.  
- **Stock Listings**: NASDAQ (SHOP) and Toronto Stock Exchange (SHOP.TO).  
- **Subsidiaries**: Shopify Capital (financial services), Shopify Fulfillment Network (logistics).  
- **Memberships**: NASDAQ-100 index, Business Software Alliance.  

### Technology & Platform  
- **Core Product**: E-commerce software enabling store creation, inventory management, and payment processing.  
- **Supported Platforms**: Android, iOS, and web-based interfaces.  
- **Development**: Built using Ruby on Rails, with open-source projects like Shopify App Bridge.  
- **Customization**: Offers themes, apps, and APIs for third-party integrations.  

### Leadership & People  
- **CEO**: Tobias Lütke, a German-born entrepreneur and software developer.  
- **Founders**: Daniel Weinand (COO) and Scott Lake (former CTO).  
- **Employees**: Over 10,000 globally as of 2023, with significant growth from 8,300 in prior years.  

### Financial Performance  
- **Revenue**: $3.231 billion (2020), driven by subscription and merchant services.  
- **Net Profit**: $2.914 billion (2020), reflecting pandemic-driven e-commerce growth.  
- **Market Capitalization**: Reached $200 billion in 2021, though fluctuating with market conditions.  

### Ecosystem & Partnerships  
- **Android Integration**: Shopify apps and tools optimized for Android devices.  
- **Affiliations**: Member of the Business Software Alliance and NASDAQ-100.  
- **Open-Source**: Maintains projects like Shopify App Bridge for developer collaboration.  

### Global Impact  
- **Democratization of E-commerce**: Enabled small businesses to compete with large retailers through affordable, scalable tools.  
- **Economic Influence**: Facilitated over $200 billion in gross merchandise volume (GMV) in 2022.  
- **Cultural Shift**: Accelerated the shift to online retail, particularly during the COVID-19 pandemic.  

### Related Entities  
- **Tobias Lütke**: CEO and co-founder, recognized for his technical leadership and entrepreneurial vision.  
- **Android**: Shopify’s integration with Android expanded accessibility for mobile merchants.  
- **Toronto Stock Exchange**: Primary listing venue alongside NASDAQ.  
- **NASDAQ-100**: Inclusion in the index underscores Shopify’s market influence.  

### Challenges & Criticisms  
- **Dependence on Third-Party Apps**: Reliance on external integrations for advanced functionality.  
- **Pricing Model**: Tiered subscription plans criticized for scaling costs with business growth.  
- **Competition**: Competes with platforms like WooCommerce, BigCommerce, and Amazon.  

### Legacy & Innovation  
Shopify’s evolution from a snowboard store to a global e-commerce leader highlights its adaptability. Innovations like Shopify Fulfillment Network and Shopify Capital expanded its services beyond software, addressing logistics and financial needs. Its commitment to open-source development and developer tools solidified its position as a tech industry leader, shaping the future of retail and entrepreneurship.

## References

1. [Source](https://www.shopify.com/about)
2. [Fortune.com unicorn list. 2016](https://fortune.com/unicorns/2016/shopify/)
3. [Source](https://www.crunchbase.com/acquisition/shopify-acquires-oberlo--700d6396)
4. [Source](https://s27.q4cdn.com/572064924/files/doc_financials/2021/q4/99a0d08d-4015-4a0a-a8fb-fe6ec66553c4.pdf)
5. [Source](https://news.shopify.com/company-info)
6. [Source](https://www.shopify.com/news/company-info)
7. [Crunchbase](http://www.crunchbase.com/organization/shopify)
8. [Source](https://shopify.pxf.io/c/1318841/1061744/13624?subId2=article&subId3=investors&u=https%3A%2F%2Finvestors.shopify.com%2Ffinancial-reports%2Fdefault.aspx)
9. [Source](https://companiesmarketcap.com/shopify/marketcap/)
10. Quora
11. [Shopify](https://old.reddit.com/r/shopify/)
12. Polygon.io
13. [Source](https://golden.com/wiki/Shopify-PGXYJW)
14. YouTube API