Shopify

About Shopify

Financials

Dated, source-cited figures. Estimates are marked.

Products by Shopify

All products by Shopify reviewed by our AI panel of experts.

Shopify MagicAI E-commerce

AI tools for commerce built into Shopify

Free7.9/10

How Our Review Panel Scores Shopify

Six independent reviewer personalities assessed Shopify's product on their own terms. They disagreed by 1.3 points — The Skeptic was the hardest to convince, The Decision Maker the most positive.

Averaged across 1 reviewed product in our catalog. Scores are out of 10.

Competitive Landscape

Who Shopify competes with, and how they differ.

BigCommerce8.0/10

Open SaaS platform with no added transaction fees on any plan and stronger native B2B/headless commerce tooling, but a smaller app ecosystem and merchant base than Shopify.

1 product reviewed on TopReviewed

WooCommerce8.0/10

Free, self-hosted WordPress plugin rather than managed SaaS — merchants own their own hosting and pay no platform fee, trading Shopify's polish and support for full customization control.

1 product reviewed on TopReviewed

Wix8.0/10

General-purpose website builder that added commerce as one vertical rather than being commerce-first; targets small, DIY-run stores with a lower price floor and less scalable checkout/inventory tooling than Shopify.

1 product reviewed on TopReviewed

A

Adobe Commerce (Magento)

Self-hosted, open-source-rooted platform aimed at large enterprises with in-house dev teams, competing with Shopify Plus via deep infrastructure customization rather than an all-in-one managed product.

Company Timeline

Key milestones in Shopify's history, with sources.

1. May 4, 2023Milestone

   Divested Shopify Logistics to Flexport, cut ~20% of workforce

   Shopify sold its logistics operations to Flexport and reduced headcount by roughly 20% to refocus on its core software platform.

   shopify.com
2. 2023Launch

   Launched Shopify Magic — AI content and commerce tools

   Shopify introduced Shopify Magic, an AI-powered suite for generating product descriptions and other storefront content, as part of its Winter '23 Edition.

   shopify.com
3. May 23, 2019Acquisition

   Acquired Handshake, a B2B wholesale e-commerce platform

   Shopify acquired Handshake for an undisclosed sum reported to be under $100 million, extending into B2B wholesale commerce.

   techcrunch.com
4. May 21, 2015Milestone

   IPO on NYSE and TSX

   Shopify went public, pricing at $17/share and popping 65% to open above $28 on its first day of trading.

   venturebeat.com
5. Dec 11, 2013Funding

   Series C — $100M, valuing the company at $1B

   Shopify raised a $100 million Series C led by new investors OMERS Ventures and Insight Venture Partners, crossing a $1 billion valuation.

   techcrunch.com
6. Oct 17, 2011Funding

   Series B — $15M

   Shopify raised $15 million from Bessemer Venture Partners, FirstMark Capital, Felicis Ventures and Georgian Partners as storefronts grew from 10,000 to 16,000 in a year.

   allthingsd.com
7. Dec 13, 2010Funding

   Series A — $7M, first outside funding

   Shopify raised its first venture round, $7 million from Bessemer Venture Partners, FirstMark Capital and Felicis Ventures, after years of bootstrapped profitability.

   allthingsd.com
8. 2006Founded

   Founded by Tobias Lütke, Daniel Weinand and Scott Lake

   Shopify grew out of Snowdevil, a 2004 online snowboard shop, after Lütke built its e-commerce software on Ruby on Rails and pivoted to selling the platform itself.

   en.wikipedia.org