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May 06, 2015 2:35 AM ET

Internet Software and Services

Company Overview of Shopify Inc.

Company Overview

Shopify Inc. provides a cloud-based commerce platform for small and medium-sized businesses. Its platform provides merchants with a single view of their business and customers in various sales channels, including Web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops; and enables them to manage products and inventory, process orders and payments, build customer relationships, and leverage analytics and reporting. The company was formerly known as Jaded Pixel Technologies Inc. and changed its name to Shopify Inc. in November 2011. Shopify Inc. was founded in 2004 and is headquartered in Ottawa, Canada.

150 Elgin Street

8th Floor

Ottawa, ON K2P 1L4

Canada

Founded in 2004

632 Employees

Phone:

613-241-2828

Key Executives for Shopify Inc.

Co-Founder, Chairman and Chief Executive Officer
Age: 33
Chief Technology Officer
Age: 35
Co-Founder and Chief Design Officer
Age: 34
Chief Financial Officer
Age: 55
Chief Platform Officer
Age: 31
Compensation as of Fiscal Year 2014.

Shopify Inc. Key Developments

Shopify Seeks Acquisitions

Shopify Inc. has filed an IPO in the amount of $100 million. Shopify said, "We currently expect to use the net proceeds from this offering for working capital and general corporate purposes, including to fund our growth strategies, which may include: increasing our investment in sales and marketing, research and development and general and administrative functions; investing in maintaining our high level of merchant service and support; continuing to invest in our data centers and network infrastructure; and future acquisitions."

Intuit Inc. Partners with Shopify to Automate Bookkeeping for Online Retailers

Intuit Inc. and Shopify announced partnership to automate bookkeeping for online retailers. The integration will allow Shopify merchants to automatically update and transfer accounting data, freeing time for business owners to focus on growing their business, not managing the technology behind it. Delivering a seamless integration between QuickBooks Online and Shopify makes it easy for businesses to automatically reconcile sales data. Through the partnership Shopify has been selected as a preferred commerce provider for existing and new Intuit customers. Priority access to QuickBooks Online powered by Shopify will be available to the company's 150,000-plus merchants, who sell online, in physical retail locations and on the go. QuickBooks Payments is available now for new and existing Shopify merchants. The QuickBooks Online integration will be available within the coming months.

Shopify Reportedly Seeks IPO

Shopify Inc. is gearing up for a sale of its own via 2015 initial public offering. Shopify is working on a plan to raise roughly $100 million in a dual United States-Canada IPO that could value Shopify at well over $1 billion, according to people familiar with the matter. Banks including Morgan Stanley (NYSE:MS), Credit Suisse Group AG (SWX:CSGN) and RBC Capital Markets LLC have recently been tapped to work with Shopify on the deal, the people said. The IPO could launch as early as the spring, but the timing will depend on market conditions, one of the people said.

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