Shopify, Inc. (SHOP)
Shopify (SHOP) History Encyclopedia
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In 2004, Shopify was founded. The three founders of the company originally planned to open an online store (Snowdevil) for ski equipment. Because they were not satisfied with the e-commerce products in the market, Lu Teke, one of the founders' programmers, decided to develop his own program. Lutek uses the open source framework Ruby on Rails for development, and will go online two months later. -
In June 2006, Shopify platform was launched. -
In June 2009, Shopify launched the Application Programming Interface (API) platform and App Store. The API allows developers to create applications for Shopify online stores and then sell them on Shopify App Store. -
In April 2010, Shopify launched a free mobile application on the Apple App Store. This application enables Shopify store owners to view and manage their stores through iOS mobile devices. -
In 2010, Shopify started the Build-A-Business contest, where participants used their business platform to create businesses. The winner of the competition will receive cash rewards and guidance from entrepreneurs such as Richard Branson and Eric Ries. Shopify was selected by Ottawa Business Magazine as the fastest growing company in Ottawa in 2010. -
In December 2010 Round A Venture Capital Shopify obtained an investment of 7 million dollars. -
In October 2011, Round B financing Shopify raised $15 million. -
In February 2012, Shopify acquired Select Start Studios Inc ("S3"), a mobile software developer, and 20 mobile engineers and designers of the company. -
In August 2013, Shopify acquired Jet Cooper, a 25 person design studio in Toronto. -
In August 2013, Shopify announced the launch of Shopify Payments, which allows merchants to accept credit cards without a third-party payment gateway. The company also announced the launch of the iPad centric point of sale system. It uses the iPad to accept debit and credit card payments. -
In December 2013, Round C financing Shopify obtained 100 million dollars. -
By 2014, Shopify has docked about 120000 online retailers Deloitte Canada's Fast50 ranks third and Deloitte North America's Fast 500 ranks seventh. Shopify's revenue in 2014 was $105 million, twice the previous year. -
In February 2014, Shopify released its enterprise solution "Shopify Plus" for large e-commerce enterprises, which can use other functions and support. -
On April 14, 2015, Shopify New York stock exchange And the Toronto Stock Exchange conducted initial public offerings under the codes of "SHOP" and "SH" respectively（ IPO ）。 Shopify was listed on May 21, 2015. When it was first listed on the New York Stock Exchange, its trading price was $28, more than 60% higher than its issuance price of $17. Its IPO raised more than $131 million. -
In September 2015, Amazon.com Announces that it will close its Amazon Webstore service, and select Shopify as the preferred migration provider; After the news, Shopify's share price rose by more than 20%. -
On October 3, 2016, Shopify acquired Boltmad. -
In November 2016, Shopify cooperated with Paystack, which enabled online retailers in Nigeria to accept payments from customers around the world. -
On November 22, 2016, Shopify launched Frenzy, a mobile application that can increase Flash sales. -
On December 5, 2016, Shopify acquired Tiny Hearts, a mobile product development studio located in Toronto. Tiny Hearts has become a Shopify R&D office. -
In January 2017, Shopify announced its integration with Amazon, which will allow merchants to sell on Amazon from Shopify stores. After the announcement, Shopify's stock rose nearly 10%. -
In April 2017, Shopify launched a Bluetooth enabled debit card and credit card reader for physical retail. Since then, Shopify has released other technologies for physical stores, including a point of sale system containing Dock and Retail Stand, which is similar to Square Tap able chip card reader provided. -
On May 11, 2017, Shopify purchased Oberlo at a price of $15 million, which is one of the star applications in its Shopify App Store. Oberlo connects Shopify merchants with suppliers who ship products directly to consumers. -
In October 2018, Shopify opened their first physical space in Los Angeles, which provided courses and "genius bar" for companies using Shopify software and products. -
In October 2018, when hemp When legalized, online cannabis sales in Ontario used Shopify's software. -
In January 2019, Shopify announced the launch of Shopify Studios, a full-service television and film content and production company. -
On March 22, 2019, Shopify and the e-mail marketing platform Mailchimp terminated an integration agreement involving customer privacy and data collection disputes. -
In April 2019, Shopify announced that Snapchat Integration to allow Shopify merchants to purchase and manage Snapchat Story advertisements directly on the Shopify platform. Shopify has previously worked with Facebook and Google Similar integrated partnerships have been achieved. -
In May 2019, Shopify acquired Handshake, a B2B e-commerce platform for wholesale goods. Handshake team has been integrated into Shopify Plus, and Glen Coates, founder and CEO of Handshake, has been appointed Product Director of Shopify Plus. -
In June 2019, Shopify announced that it would launch its own distribution network. This service promises to handle transportation logistics for platform merchants, and will cooperate with the famous Amazon Logistics companies (Amazon FBA) compete. Shopify's distribution network will first be available to qualified U.S. merchants in certain states. -
On August 14, 2019, Shopify launched Shopify Chat, a new native chat function that allows merchants to have real-time conversations with customers who visit Shopify stores online. -
On September 9, 2019, Shopify announced its acquisition of 6 River Systems, a distribution solutions company located in Massachusetts, for US $450 million. The acquisition was completed in October. -
Shopify will continue to expand in 2020. The company announced the recruitment of new employees in Vancouver, Canada. The COVID-19 pandemic is conducive to the development of e-commerce. -
On February 21, 2020, Shopify announced that it would join the Libra Association led by Facebook, aiming to create a Libra digital currency to help establish a new payment network. -
In February 2020, Shopify Pay changed its name to Shop Pay, and in April 2020, Arrive changed its name to Shop, combining customer facing functions under one brand. -
On March 11, 2020, Shopify announced that it would fully telecommute. In response to the rapid spread of coronavirus disease in 2019, more than 5000 employees would start working at home. -
On April 28, 2020, Shopify announced the launch of the Shop application for Android and iOS in the United States, enabling shoppers to use Shopify to browse and purchase products online from stores. -
On May 20, 2020, Shopify announced the launch of Shopify Balance, which is a new business bank Account form can provide a new way of financial management for enterprise owners. The product suite provided includes Shopify Balance Account, Shopify Balance Card and Rewards。 There is no monthly fee for this service, which is scheduled to be launched in the United States later this year. These latest announcements were released on Shopify Reunity, which is the reason why the company Covid-19 The first virtual event held. -
In November 2020, Shopify announced that Alipay Cooperation to support cross-border payment by merchants. -
In February 2021, Shopify announced that the company had set up an electronic sports organization called Shopify Rebellion, and formed a professional StarCraft II team to participate in the international championship. -
In April 2021, Shopify set foot in the last mile of logistics for the first time by investing in Toronto digital logistics startup Swyft. As part of Round A financing, Swyft raised a total of $17.5 million, which was jointly led by Inovia Capital and Forerunner Ventures, with Shopify also participating. -
On June 11, 2021, Shopify announced the acquisition of Primer, an AR application on the App Store that allows users to preview home decoration items in a digital way. -
On June 29, 2021, Shopify canceled the 20% revenue share of application developers whose annual revenue is less than $1 million. -
On March 22, 2022, Shopify launched Linkpop, which is a product to create a brand social market, through which businesses can promote and market their products by adding links on social media channels. -
On April 11, 2022, Shopify announced the acquisition of Dovetale, an influential marketing startup in New York. -
On January 18, 2022, Shopify announced that JD.COM Cooperate to let American businesses expand their business in China and purchase their products on the JD Global cross-border e-commerce platform. -
On May 5, 2022, Shopify announced the acquisition of cash and stock for $2.1 billion Deliverr , an e-commerce fulfillment startup headquartered in San Francisco, California. -
In June 2022, Shopify and Twitter Cooperation. As part of the deal, Twitter announced that it would launch sales channel apps for all Shopify's U.S. merchants through its app store. Shopify also works with PayPal Cooperate to provide Shopify Payments to French merchants. -
In August 2022, Shopify announced a strategic investment of US $100 million in the company, taking Klaviyo, an e-commerce marketing automation platform, as its e-mail solution partner recommended by Shopify Plus merchant platform. -
In May 2023, Shopify fired about 20% of its employees and sold its internal logistics department Shopify Logistics to Flexport The latter subsequently became the preferred logistics partner of the e-commerce platform. -
On January 19, 2024, Shopify will pay Flexport It invested 260 million dollars.
Shopify, Inc. (SHOP) US equity investment
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