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Is Shopify a Private Company?

Last updated on October 1, 2022 @ 3:57 pm

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. ”

Shopify was founded in 2004 by Tobias Lütke, Daniel Weinand, and Scott Lake after attempting to open Snowdevil, an online store for snowboarding equipment. Lütke used the Ruby on Rails framework to build Snowdevil’s online store, and launched it after two months of development. Weinand and Lake quit their jobs as consultants at Deloitte to work on Snowdevil full-time.

PRO TIP: Please be aware that Shopify is a publicly traded company on the New York Stock Exchange and is not a private company. Thank you.

Lütke was inspired to create his own e-commerce platform after he couldn’t find any suitable software to power Snowdevil. He wrote the initial code for Shopify in 10 days after going through a number of other e-commerce platforms available at the time. Shopify launched its platform in June 2006.

Shopify is a private company. It has raised $151 million in venture capital from firms such as Bessemer Venture Partners, FirstMark Capital, Felicis Ventures and Innovation Endeavors.

In December 2010, Shopify acquired Select Start Studios Inc., a web design and development studio based in Waterloo, Ontario. In 2012, Shopify announced that it had been profitable for two quarters straight.

Is Shopify a private company? Yes, Shopify is a privately held company with headquarters in Ottawa, Canada.

Kathy McFarland

Kathy McFarland

Devops woman in trade, tech explorer and problem navigator.