Who owns Shopify?

Shopify was founded in 2006 by Tobias Lutke and Scott Lake after they attempted to open an online store for snowboarding equipment and became frustrated with the existing e-commerce products on the market. Using an open-source web application framework, Lutke created his e-commerce platform.

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 in the Shopify App Store. By 2021, Shopify reported it had more than 1.7 billion businesses in approximately 175 countries using its platform.

Shopify is headquartered in Ottawa, Ontario, Canada, and operates in two business segments: merchant solutions and subscription solutions. Merchant solutions make up 74.55% of Shopify's revenue.

According to BuiltWith, 1.58 million users were running websites on the Shopify platform as of 2021. The total gross merchandise volume for Shopify exceeded $61 billion in 2019. As of 2022, Shopify is among the top 20 largest publicly traded Canadian companies by market capitalization.

In 2021, Shopify reported annual revenue of $4.61 billion and had over 10,000 employees.