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Is Shopify a Buy Today?

Last updated on October 1, 2022 @ 4:36 pm

Shopify (SHOP) 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. Lütke, a German citizen, originally came to Canada to work on snowboarding websites.

Weinand was a carpenter who built custom e-commerce solutions for clients, while Lake built websites for small businesses. The three realized that there was a market for an easy-to-use ecommerce platform and created Shopify in order to fill that gap.

PRO TIP: Is Shopify a Buy Today?

Shopify (SHOP) 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.

The company reports that it has more than 1,000,000 merchants using its platform, with total gross merchandise volume exceeding $41 billion.

Shopify went public on the New York Stock Exchange in May 2015, and is a component of the S&P/TSX Composite Index.

The company was founded in 2004 by Tobias Lütke, Daniel Weinand, and Scott Lake after attempting to open an online store called Snowdevil. Lütke was originally a software developer and Weinand was a carpenter. Shopify was originally built as an online store for Lütke’s snowboarding business; however, they soon found that other businesses were interested in using their platform.

Shopify went public on the Toronto Stock Exchange in May 2015. In 2019, Shopify was ranked #1 in “Canada’s Top 100 Employers” by Forbes Magazine. As of September 2020, Shopify has a market capitalization of $41.8 billion CAD.

Shopify is a buy today. The company has been growing at an incredible pace and is one of the leaders in the ecommerce space.

Shopify has a strong platform with many features and integrations that allow businesses of all sizes to succeed online. The company is also profitable and has a strong balance sheet. Overall, Shopify is a great long-term investment.

Drew Clemente

Drew Clemente

Devops & Sysadmin engineer. I basically build infrastructure online.