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Shopify is a Canada-based provider of ecommerce software. The company’s software is being used by over one million businesses worldwide.
Shopify was founded by Tobias Lütke and Scott Lake in 2004, when they decided to build an online store to sell snowboarding gear. Lütke once said that their online store was based on different systems, such as Miva, OsCommerce and Yahoo Stores. But soon they discovered it didn’t meet their demands, so they built their own solution: Shopify.
Change in how Shopify charges customers
Shopify was officially launched as an ecommerce software solution in 2006. Initially, the company charged transaction fees as a percentage of sales, but in 2007 they switched to a subscription-based plan with the transaction fee decreasing when the plan size increases.
In the following years, Shopify shifted from a tool to a platform. This happened after the company buily an API and a popular app store. In 2010, the company launched its app, which lets retailers manage their online shop from their phones.
In 2014, Shopify expanded its territory and relaunched Shopify Mobile, which lets merchants take their cash register right to their customers. With a free card reader they can accept cash or credit card payments from inside the app.
Shopify Mobile also works with Shopify POS, meaning that when a merchant makes inventory or price changes, these updates are automatically shown in the POS system. Shopify Mobile can also act like a second register in a physical store.
Active in: Europe
Type of business: Ecommerce software
Founder(s): Tobias Lütke and Scott Lake
Company size: 1000
Revenue: 1.54 billion euros (2019)