Best North American Technology IPO Leaps From Tattoos to Tesla
- Canada's Shopify selling online store software beats Fitbit
- CEO plots strategy from Capone's former whiskey distillery
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Shopify Inc. Chief Executive Officer Tobi Lutke pulled off North America’s best-performing technology listing this year helping small-time merchants set up online stores. Now he’s aiming beyond wooden iPhone covers and temporary tattoos.
The Ottawa-based company, which makes software that helps retailers sell their wares online, has almost doubled in the U.S. since its initial public offering in May. Shopify started out catering to small businesses but is now targeting larger merchants and well-known brands to use its product instead of building and running their own websites. It has already signed up Tesla Motors Inc. and Red Bull GmbH and is aiming for other established brands with millions in sales.