| Key stat | Info |
|---|---|
| Founder(s) | Tobias Lütke, Scott Lake, and Daniel Weinand |
| Founded | 2006 |
| Headquarters | Ottawa, Canada |
| Industry | E-commerce |
| CEO (current) | Tobias Lütke |
| Service Area | Worldwide |
| Website | http://www.shopify.com/ |
In 2023, Shopify's market cap stands at $66.07 billion, marking a 49.65% increase from the previous year. This follows a significant drop in 2022, which saw a -74.26% change compared to 2021. Over the years, Shopify has experienced notable growth since 2015 when its market cap was $2.05 billion.
| Year | Shopify Market cap | Change (%) |
|---|---|---|
| 2023 | $66.07 billion | 49.65% |
| 2022 | $44.15 billion | -74.26% |
| 2021 | $171.57 billion | 24.86% |
| 2020 | $137.41 billion | 198.61% |
| 2019 | $46.01 billion | 200.74% |
| 2018 | $15.30 billion | 52.39% |
| 2017 | $10.04 billion | 163.81% |
| 2016 | $3.80 billion | 85.25% |
| 2015 | $2.05 billion |
Source: Global Ranking
Shopify commands a 10.32% market share in the e-commerce platform industry, making it a significant player alongside leaders like WooCommerce.
| E-Commerce Platforms | Market share |
|---|---|
| WooCommerce | 38.74% |
| Woo Themes | 14.95% |
| Squarespace Online Stores | 14.67% |
| Shopify | 10.32% |
| WixStores | 8.09% |
| Others | 13.22% |
Source: Statista
In 2022, Shopify's revenue totalled $5.6 billion, a substantial increase from $205.23 million in 2015, illustrating impressive growth over the years.
| Year | Shopify Revenue |
|---|---|
| 2022 | $5.6 billion |
| 2021 | $4.61 billion |
| 2020 | $2.92 billion |
| 2019 | $1.59 billion |
| 2018 | $1.07 billion |
| 2017 | $673.3 million |
| 2016 | $389.33 million |
| 2015 | $205.23 million |
Source: Statista
In 2022, Shopify earned $1.4 billion from subscriptions and $3 billion from merchant solutions, showing significant growth in both segments.
| Year | Subscription Solutions | Merchant Solutions |
|---|---|---|
| 2022 | $1.49 billion | $4.11 billion |
| 2021 | $1.34 billion | $3.27 billion |
| 2020 | $908.8 million | $2.02 billion |
| 2019 | $642.2 million | $935.9 million |
| 2018 | $465 million | $608 million |
| 2017 | $310 million | $363.3 million |
| 2016 | $188 million | $200.7 million |
| 2015 | $112 million | $93.25 million |
Source: Statista
Shopify's Gross Merchandise Value (GMV) hit $49.6 billion in Q1 2023, with significant growth. In 2022, GMV was $197.3 billion, and in 2021, it reached $175.4 billion, demonstrating Shopify's popularity among online shoppers.
GMV, or Gross Merchandise Value, represents the total value of orders made on Shopify, including revenue-sharing arrangements, and covers all costs like shipping, taxes, and refunds.
| Year | Shopify GMV |
|---|---|
| Q1 2023 | $49.6 billion |
| 2022 | $197.3 billion |
| 2021 | $175.4 billion |
| 2020 | $119.5 billion |
Source: Statista
Shopify's Q1 2023 GPV: $27.5 billion. GPV shows payments processed through Shopify Payments.
| Characteristic | Shopify GPV |
|---|---|
| Q1 2023 | $27.5 billion |
| 2022 | $106.1 billion |
| 2021 | $85.8 billion |
| 2020 | $53.8 billion |
Source: Statista
In 2022, Shopify had a net loss of $3.46 billion, a shift from previous profits. In 2020, the company achieved its first net income, with profits increasing significantly since then.
| Year | Shopify Profit/Loss |
|---|---|
| 2022 | $-3.46 billion |
| 2021 | $2.91 billion |
| 2020 | $319.51 million |
| 2019 | -$124.84 million |
| 2018 | -$64.55 million |
| 2017 | -$40 million |
| 2016 | -$35.36 million |
| 2015 | -$18.79 million |
Source: Statista
Shopify's share price has varied over the years. In 2023 (Jan - July), it was $49.27 - $64.6. While in 2022 (Jan - Dec) its was $96.42 - $34.71.
| Year | Shopify Share Price |
|---|---|
| 2023 (Jan - July) | $49.27 - $64.6 |
| 2022 (Jan - Dec) | $96.42 - $34.71 |
| 2021 (Jan - Dec) | $109.86 - $137.74 |
| 2020 (Jan - Dec) | $46.57 - $113.2 |
| 2019 (Jan - Dec) | $16.85 - $39.76 |
| 2018 (Jan - Dec) | $12.79 - $13.85 |
| 2017 (Dec) | $10.1 |
Source: Statista
Shopify's earnings per share (EPS) for 2022 were -$2.73, a significant change from the previous year's $2.29. In 2020, it was $0.26; in 2019, it stood at -$0.11.
| Year | Shopify Annual EPS |
|---|---|
| 2022 | $-2.73 |
| 2021 | $2.29 |
| 2020 | $0.26 |
| 2019 | $-0.11 |
| 2018 | $-0.06 |
| 2017 | $-0.04 |
| 2016 | $-0.04 |
| 2015 | $-0.03 |
Source: Macrotrend
In 2022, Shopify's R&D spending was $1.5 billion, a notable increase from previous years.
| Year | Shopify R&D Expense |
|---|---|
| 2022 | $1.5 billion |
| 2021 | $854.38 million |
| 2020 | $552.13 million |
| 2019 | $355.02 million |
| 2018 | $230.67 million |
| 2017 | $136 million |
| 2016 | $74.34 million |
| 2015 | $39.72 million |
Source: Statista
In July 2023, the United States had over one million Shopify online stores, far ahead of other countries. The United Kingdom, Canada, and Australia each had more than 100,000 stores. Italy and the Netherlands also made the top ten list.
| Country | Number of Shopify stores |
|---|---|
| United States | 1,002,520 Shopify stores |
| United Kingdom | 162,935 Shopify stores |
| Canada | 122,246 Shopify stores |
| Australia | 108,573 Shopify stores |
| Brazil | 81,514 Shopify stores |
| Germany | 71,264 Shopify stores |
| France | 62,592 Shopify stores |
| India | 45,781 Shopify stores |
| Italy | 37,576 Shopify stores |
| Netherlands | 31,847 Shopify stores |
Source: Statista
The most visited Shopify store, colourpop.com, had an Alexa traffic rank of 3,311. jeffreestarcosmetics.com and Fashion Nova's online store followed closely in second and third place, respectively, as of November 2022.
| Website | Most Visited Shopify Store (Alexa Score) |
|---|---|
| colourpop.com | 3,311 |
| jeffreestarcosmetics.com | 4,262 |
| fashionnova.com | 5,015 |
| reddressboutique.com | 8,014 |
| gymshark.com | 9,848 |
| cupshe.com | 15,785 |
| omaze.com | 16,579 |
| mnml.la | 17,065 |
| yeezysupply.com | 18,729 |
| kith.com | 18,733 |
| fangamer.com | 19,971 |
| allbirds.com | 20,500 |
| bulletproof.com | 20,676 |
| gfuel.com | 20,869 |
| decathlon.com | 21,640 |
Source: Statista
In June 2023, Shopify hosted over 500,000 apparel stores, making it the top category. Home and Garden came next with around 220,000 stores, highlighting Shopify's diverse industry reach.
| Shopify Store Niche | Number of Shopify Stores |
|---|---|
| Apparel | 520,321 Shopify stores |
| Home & Garden | 221,381 Shopify stores |
| Beauty & Fitness | 186,706 Shopify stores |
| Food & Drink | 116,008 Shopify stores |
| People & Society | 68,801 Shopify stores |
| Sports | 62,669 Shopify stores |
| Health | 61,983 Shopify stores |
| Arts & Entertainment | 61,283 Shopify stores |
| Toys & Hobbies | 53,082 Shopify stores |
| Pets & Animals | 40,609 Shopify stores |
| Autos & Vehicles | 36,090 Shopify stores |
| Gifts & Special Events | 35,526 Shopify stores |
| Consumer Electronics | 34,804 Shopify stores |
| Business & Industrial | 31,767 Shopify stores |
| Computers | 28,878 Shopify stores |
| Games | 14,449 Shopify stores |
| Books & Literature | 12,154 Shopify stores |
| Jobs & Education | 10,642 Shopify stores |
| Travel | 8,878 Shopify stores |
Source: Statista
As of July 2023, a substantial 621,899 Shopify stores offered 1 to 9 products, while 376,418 stores had between 10 and 24 products available.
| Number of products | Number of Shopify Stores |
|---|---|
| 1 - 9 products | 621,899 Shopify stores |
| 10 - 24 products | 376,418 Shopify stores |
| 25 - 49 products | 290,320 Shopify stores |
| 50 - 99 products | 257,076 Shopify stores |
| 100 - 249 products | 247,903 Shopify stores |
| 250 - 999 products | 197,157 Shopify stores |
| 1000 - 4999 products | 71,052 Shopify stores |
| 5000 - 9999 products | 10,673 Shopify stores |
| 10000 - 24999 products | 6,149 Shopify stores |
| 25000 - 99999 products | 3,564 Shopify stores |
Source: Statista
In July 2023, Shopify stores worldwide preferred USPS, with 149,709 stores using it. UPS and FedEx followed with 94,237 and 63,560 stores, respectively, as their top shipping carriers. These carriers are primarily based in the United States.
| Characteristic | Number of Shopify stores |
|---|---|
| USPS | 149,709 Shopify stores |
| UPS | 94,237 Shopify stores |
| FedEx | 63,560 Shopify stores |
| Royal Mail | 33,346 Shopify stores |
| Correios | 31,345 Shopify stores |
| Australia Post | 27,578 Shopify stores |
| Canada Post | 17,899 Shopify stores |
| DHL | 8,429 Shopify stores |
| Correos | 5,107 Shopify stores |
| PostNord | 3,479 Shopify stores |
Source: Statista
On Shopify.com, the audience is fairly balanced in terms of gender, with 49.67% male and 50.33% female users.
| Gender | Distribution |
|---|---|
| Male | 49.67% |
| Female | 50.33% |
Source: Similarweb
| Age Group | Distribution |
|---|---|
| 18 - 24 | 14.72% |
| 25 - 34 | 34.48% |
| 35 - 44 | 21.52% |
| 45 - 64 | 14.81% |
| 55 - 64 | 9.09% |
| 65+ | 5.38% |
Source: Similarweb
Shopify was founded by Tobias Lütke, Daniel Weinand, and Scott Lake in 2006. Tobias Lütke is the current CEO of the company. Shopify has since grown to become one of the leading e-commerce platforms in the world, providing tools and services for businesses to create and manage their online stores.
| Year | Tobias Lütke Net-Worth |
|---|---|
| 2023 | $4 billion |
| 2022 | $5 billion |
| 2021 | $9.8 billion |
| 2020 | $3 billion |
| 2019 | $1.6 billion |
| 2018 | $1.2 billion |
Source: Forbes
| Name | Equities | % | Valuation |
|---|---|---|---|
| Capital Research & Management Co. (World Investors) | 51,091,968 | 4.245 % | 3 397 M $ |
| Klister Credit Corp. | 37,500,000 | 3.116 % | 2 493 M $ |
| The Vanguard Group, Inc. | 35,991,828 | 2.991 % | 2 393 M $ |
| Morgan Stanley Investment Management, Inc. | 34,573,681 | 2.873 % | 2 299 M $ |
| Capital Research & Management Co. (Global Investors) | 24,840,277 | 2.064 % | 1 652 M $ |
| Baillie Gifford & Co. | 22,159,595 | 1.841 % | 1 473 M $ |
| Fidelity Management & Research Co. LLC | 20,057,788 | 1.667 % | 1 334 M $ |
| T. Rowe Price Associates, Inc. (Investment Management) | 20,016,203 | 1.663 % | 1 331 M $ |
| Fidelity Investments Canada ULC | 16,043,892 | 1.333 % | 1 067 M $ |
| JPMorgan Investment Management, Inc. | 15,332,625 | 1.274 % | 1 019 M $ |
Source: MarketScreener
| Managers | Title |
|---|---|
| Tobias Lütke | Chief Executive Officer |
| Harley Finkelstein | President |
| Jeff Hoffmeister | Director of Finance/CFO |
| Kasra Nejatian | Chief Operating Officer |
| Allan Leinwand | Chief Tech/Sci/R&D Officer |
| Amy Shih-Hua Feng | Investor Relations Contact |
| Jessica Hertz | General Counsel |
| John Asante | Corporate Officer/Principal |
| Tia Silas | Human Resources Officer |
Source: MarketScreener
| Country | City | Address |
|---|---|---|
| Canada | Ottawa | 151 O’Connor Street, Ground Floor (HQ) |
| United States | Los Angeles | ROW DTLA, 777 S Alameda St Bldg. 1 |
| India | Bengaluru | Cinnabar Hills, Embassy Golf Links Business Park, Challaghatta |
| Ireland | Dublin 4 | 4, Victoria Building, Haddington Rd, Ballsbridge |
| Singapore | Singapore | 77 Robinson Rd, #13 00 Robinson 77 |
| Sweden | Stockholm | Birger Jarlsgatan 58 |
Source: Craft.co
| Year | Shopify Employee |
|---|---|
| 2022 | 11,600 employees |
| 2021 | 10,000 employees |
| 2020 | 7,000 employees |
| 2019 | 5,000 employees |
| 2018 | 4,000 employees |
| 2017 | 3,000 employees |
| 2016 | 1,900 employees |
| 2015 | 1,048 employees |
| 2014 | 632 employees |
Source: Macrotrends
Shopify is an e-commerce platform that allows businesses of all sizes to create and manage their own online stores. It offers a wide range of features, including:
Shopify is a popular choice for businesses of all sizes because it is easy to use and offers a wide range of features. It is also a relatively affordable platform, with plans starting at $29 per month.
How to make money on Shopify:
Shopify is used in over 175 countries around the world, but it is most popular in the United States. In 2022, over 60% of Shopify stores were based in the US.
Shopify is also popular in other countries, such as Canada, the United Kingdom, Australia, and Germany. However, the US is by far the largest market for Shopify.
Yes, Shopify is a good platform for beginners. It is easy to use, offers a wide range of features and integrations, and has a strong community of users and developers.
Here are some tips for beginners using Shopify:
Shopify's transaction fees depend on your plan and payment method:
Shopify offers three main pricing plans: Basic Shopify, Shopify, and Advanced Shopify. The cost of each plan per month is as follows:
| Plan | Monthly Cost |
|---|---|
| Basic Shopify | $29 |
| Shopify | $79 |
| Advanced Shopify | $299 |