Tobias Lütke, a snowboard enthusiast, launched an online sporting goods shop two decades ago, with the aim of creating a platform that would empower small businesses and merchants to compete with the likes of Amazon. Since its inception in 2006, Shopify has grown to become one of the world's largest ecommerce companies by market cap, with a unique product that caters to both small and large businesses.
The platform has been ranked 173rd in the FT-Statista list of the Americas' fastest-growing businesses, and its success can be attributed to its ability to cater to both small and large merchants, while also providing an ecosystem of services from third-party partnerships that can help boost a seller's business.
Shopify's success stems from its ability to create an environment that is conducive to the growth of small businesses... while also catering to larger clients.
Source: See hereThe platform has been ranked 173rd in the FT-Statista list of the Americas' fastest-growing businesses, and its success can be attributed to its ability to cater to both small and large merchants, while also providing an ecosystem of services from third-party partnerships that can help boost a seller's business.
Shopify's success stems from its ability to create an environment that is conducive to the growth of small businesses... while also catering to larger clients.
When snowboard enthusiast Tobias Lütke launched an online sporting goods shop two decades ago, few would have guessed that his frustrations in doing so would drive him to build one of the world's largest ecommerce companies by market cap. But that is what Shopify has become, since Lütke set it up in 2006 as a simple maker of ecommerce websites. His aim, as he put it in a since-deleted 2019 Twitter post, was to "arm the rebels" against "the empire" of Amazon. That same year, Shopify's market cap overtook that of another ecommerce rival: eBay.
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