Shopify Files for IPO
April 16, 2015
Canada-based e-commerce platform Shopify this week announced it has filed for a U.S. IPO the company believes will raise $100 million. It will list on the New York Stock Exchange under the symbol SHOP. According to an SEC filing, Shopify has grown its revenue from nearly $24 million in 2012, to more than $50 million in 2013 and more than $105 million last year. Sales appear headed even higher this year, with the company bringing in more than $37 million in the first quarter of 2015. The company has raised $122 million in venture financing to date.
Nearly two years ago, Shopify expanded beyond offering a shopping-cart solution and started offering the payments themselves when it launched Shopify Payments and began offering credit-card processing as a PSP.