Canada based tech startup Shopify debuts US Exchange valuing at $2.2 billion

May 21, 2015: The Canada based e-commerce startup Shopify debuts at U.S Stock exchange valuing the company at $2.2 billion.
Shopify (NYSE:SHOP), which also makes its debut in Toronto Stock Exchange today has become the first Canadian company to get listed in US exchange this year.

The ottawa tech company sold 7.7 million shares for a listing price of $17 apiece generating over $100 million. And company's trading above $25.68 a share now growing by 51% from its initial value.

Founded in 2004, Shopify is a ready made e-commerce solution provider for online retailers. It develops softwares for online stores and retail point-of-sale systems. As of now, startup has 150,000 merchants using its platform.

Tobias Lutke, CEO of Shopify in his statement said, "My only concern is where the stock will be in 12-24 months, and can we take a great company we have and turn it into something which is long lasting."

Source: Reuters.com, Image by OttawaCitizen.com


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About Mohammed Rizwan

An Electronics Engineer by education, a part-time blogger by passion. He loves everything about technology, hence he writes about it. Interest includes Technology, Startups and Mobile Applications.
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