Venture-backed e-commerce platform Shopify files for IPO
Shopify Inc has filed a preliminary prospectus with Canadian securities regulatory authorities for an initial public offering of its Class A subordinate voting shares. The terms of the offering were not disclosed, however, The Globe and Mail reported that the company plans to raise about US$100 million. Shopify said it intends to list its shares on the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbols “SHOP” and “SH”, respectively. Based in Ottawa, Shopify is a cloud-based commerce platform designed for small businesses. It has secured more than $120 million in venture capital since 2010, including the $100 million Series C round led by OMERS Ventures and Insight Venture Partners in late 2013.
14 April 2015•3 mins read
