Shopify announces 7m in financing

Everyone,

Let me begin by congratulating all of you on an amazing year. Your shops have generated over $100 million in sales and many of you are considered to be among the leading online stores in the world. I especially wanted to point out the great work being done by our not-for-profit users who have raised millions for their charities from shop sales.

The success stories from our platform proliferate. We now see many multi-million dollar businesses that didn’t exist a year ago, and sometimes not even a month ago. Shopify is increasingly becoming the place for the world’s best entrepreneurs to build the great ecommerce companies of tomorrow.

We are truly humbled to be a part of this online surge. We also feel obliged to hold up our side of the bargain and continue to make Shopify the best possible online store system on the web. We love what we have created, and we are excited about where we are going.

Part of that excitement stems from our announcement: today that we have raised a Series A financing round by a syndicate of amazing firms with deep understanding of what we are trying to accomplish. Bessemer ventures lead the round followed by Firstmark and Felicis.

This move may come as a surprise to many. We have been a profitable company for several years and have been called one of the great internet bootstrapping successes. The short answer is that the time is finally right: When we started Shopify, building online stores was considered to be boring and ‘done’. Four Years later, ecommerce is exciting again. There is a lot of innovation happening and we want to make sure that we play the leading role.

What does this mean for current Shopify customers? Not much, at first. We only took a minority investment. The same people are in control as before. However, the investment allows us to add a force-multiplier in the form of the vast networks and resources of our new partners. The investment will also allow us to increase our team, expand the Apps and Theme store ecosystems, attract more third parties to build on Shopify, and expand internationally.

On that note, building Shopify is the journey of a lifetime and we are loving every second of it. If you are interested in throwing in with us, please have a look at the latest job openings over on our careers page. We would love to have you!

From our family to yours, happy holidays from me and the entire Shopify team.

- Tobias Lütke CEO Shopify

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10 comments

  • Cody
    Cody
    December 13 2010, 10:26AM

    Nice work you guys! Congratulations and looking forward to what’s ahead.

  • The Secret Chocolatier
    The Secret Chocolatier
    December 13 2010, 10:26AM

    Great news. You’ve put in years of hard work and we’ve been a part of your enterprise since the beginning. Looking forward to continued growth, evolution, and prosperity!

  • SKO
    SKO
    December 13 2010, 10:26AM

    Good news.

    How about a Shopify users group conference somewhere in 2011?

  • Horny Goat Weed
    Horny Goat Weed
    December 13 2010, 10:26AM

    Congratulations Shopify!!!

    I do hope that this won’t affect your personal feel with the customer support as thats a major reason why I hold Shopify above most other companies I deal with :)

  • Nutcase Helmets AU
    Nutcase Helmets AU
    December 13 2010, 10:26AM

    Well done you guys, and much deserved.

  • Lance Mayfield
    Lance Mayfield
    December 13 2010, 10:26AM

    Happy Holidays to all at Shopify! You guys really do a great job.

  • Allan Kershaw
    Allan Kershaw
    December 13 2010, 10:26AM

    Maybe you can get REAL service provider PCI compliance instead of your “McAfee scan” that you promote as PCI compliance which is a complete and utter LIE. Not sure how you’ve gotten away for so long deceiving people and customers but it’s time for the word to get out.

  • Mason
    Mason
    December 13 2010, 10:26AM

    Hey Allan!

    http://www.youtube.com/watch?v=RFhNJ8ozDBk

  • @Shopify Cody Fauser
    Cody Fauser
    December 13 2010, 10:26AM

    Allan,

    We take PCI-DSS compliance very seriously. A quarterly network scan from an Approved Scanning Vendor is one part of the PCI-DSS registration package. McAfee is an Approved Scanning Vendor that provides our network scans.

    If you would like more information about the particular registrations and relationships that we have with the credit card brands and merchant acquirers then please get in touch through our support system at support.myshopify.com.

  • Goat Weed Australia
    Goat Weed Australia
    December 13 2010, 10:26AM

    When men are lack of libido and suffering from erectile dysfunction, at that time Horny Goat Weed is the vast solution. This will make you full longer and stronger erection and libido. There are Viagra but could not hit Horny Goat Weed yet’ There is no risk if you not take earlier than 4 hours gap.

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