A lot of people may want to ask the popular business question, which is what is Shopify market cap in 2021 and 2022? With the millions of customers this commercial platform has and is still raking in since it burst into recognition, there is no doubt about how much it would have cashed in. With the services offered by this great company, convenience has been the next word for online shopping, including the business of buying and selling generally. Although there are other popular platforms, Shopify remains dignified.
Shopify is a Canadian multinational e-commerce company whose headquarter sits in Ottawa, Ontario. The company offers online retailers a suite of services including payments, marketing, shipping and customer engagement tools. Its proprietary e-commerce platform for online stores and retail point-of-sale systems obviously gives this online business its name.
Origin and Limelight
Shopify was founded in 2006 by Tobias Lütke and Scott Lake. Because they became dissatisfied with the existing e-commerce products on the market then, Lütke, a computer programmer by trade, instead built his own. Lütke used the open source web application framework Ruby on Rails to build Snowdevil’s online store and launched it after two months of development. They later launched the platform as Shopify in June 2006. Shopify created an open-source template language called Liquid, which is written in Ruby and used since 2006.
In June 2009, Shopify launched an application programming interface (API) platform and App Store. The API allows developers to create applications for Shopify online stores and then sell them on the Shopify App Store. This marked the beginning of several other launching on other App stores. Given its many achievements within the very short period of coming into limelight, Shopify was named Ottawa’s Fastest Growing Company by the Ottawa Business Journal in 2010. The company received $7 million from an initial series A round of venture capital financing in December 2010.
What is Shopify Market Cap in 2021 and 2022.
In response to what is Shopify market cap in 2021 and 2022, the company reported that it had more than 1,700,000 businesses in approximately 175 countries using its platform as of May 2021. According to BuiltWith, 1.58 million websites run on the Shopify platform as of 2021. According to W3Techs, 4.4% of the top 10 million websites use Shopify. Thus, the total gross merchandise volume exceeded US$61 billion for calendar 2019 with a net income of US$2.91 billion in 2021.
The total revenue of Shopify for the year 2021 was US$4.611 billion, while the net income is US$2.91 billion. The company’s total assets last year was calculated to be around US$13.34 billion, the equity is summed up as US$11.13 billion.
Its Market Cap in 2022
However as of July 2022, Shopify is among the top 20 largest publicly traded Canadian companies by market capitalization. The total net worth of the company as of September in 2022 is $37.84 Billion, that is, the company has been able to generate a -77.94% change for itself since last year.
Shopify, by this, becomes the world’s 416th most valuable company by market cap according to a market capitalization company.