Shopify S-1 Analysis (NASDAQ:SHOP)

Shopify Basic Info

Exchange: NASDAQ

Proposed Symbol: SHOP

Employees: 632

CEO: Tobias Lutke

Offer Amount: $123.9 mm

No. of Shares: 7.7 mm

Price Range: $12-14

Expected IPO Date: 05/21/15

Description from S-1: “Shopify provides a leading cloud-based commerce platform designed for small and medium-sized businesses. Merchants use our software to run their business across all of their sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. While we started Shopify to help merchants design, set up and manage their online stores, we have expanded far beyond that. Whether a merchant is starting their business online or offline, we provide a platform for merchants to create an omni-channel experience that helps showcase the merchant’s brand and grow its business. The Shopify platform provides merchants with a single view of their business and customers across all of their sales channels and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting. Merchants can also use Shopify Mobile, our iPhone and Android application, to manage their business on the go. ”

From the S-1


  • Lead Underwriter: Morgan Stanley, Credit Suisse, RBC Capital Markets
  • Co-Managers: Pacific Crest Securities, Raymond James, Canaccord Genuity

Total Assets: $97.3264 mm

Sales (last 12 months): $123.6 mm

Competitors: Volusion, BigCommerce, Shoprocket, 3D Shopping Cart Software, Magento

Other Notes

  • Based in Toronto
  • Founded on June 2, 2006
  • Shopify builds and sells prepackaged software for ecommerce websites
  • Funding:
    • December 2010 — Series A — $7 mm
    • October 2011 — Series B — $15 mm
    • December 2013 — Series C — $100 mm
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