Posted 05/21/2015 at 8:39 AM
Posted 2 years ago
The latest e-commerce company to go public has netted itself a serious initial payday.
This placed the company’s value at $1.27 billion, with 7.7 million shares all sold at the time of listing.
Shopify specifically creates software for customers to set up both small and intermediate-level web stores.
As of the end of March, they have 162, 261 merchants signed up from close to 150 countries worldwide with subscriptions ranging from $29 to $179.
Shopify is reflective of a new instance in that they are the first Canadian company to be listed on an American exchange this year; they will be listed as ‘SHOP’ on the New York Stock Exchange.
The news comes as they are set to offer an IPO on the Toronto Stock Exchange on Thursday, with expectations of their valuation domestically to be about the same as that of their NYSE value.