Business, Ecommerce

Shopify to Go Public; Looking to Raise $100M in its IPO

Image Source: YouTube

Image Source: YouTube

Global eCommerce SaaS player Shopify has an filed an F-1 document, indicating that it plans to go public and is planning to raise $100 million in its IPO. The company has raised $122 million till date in 3 rounds from 7 investors. At the time of its last funding, Shopify was valued at $1 billion. It is backed by OMERS Ventures, Insight Venture Partners, Bessemer Venture Partners, FirstMark Capital, Felicis Ventures, and Georgian Partners.

Its platform allows users to easily and quickly create their own online store. Merchants can use Shopify to manage all aspects of their shops: uploading products, customizing the design, accepting credit cards, and viewing their incoming orders and completed transactions.

Founded in 2006, Shopify has around 100,000 online retailers as clients and posted a revenue of $37. 34 million in first three months of 2015. Shopify officially launched its service in Indian market in June 2013, through a partnership with SingTel, the company which owns nearly 32% of Airtel.

In November 2014, it has partnered with m-commerce enabler platform MartMobi to power mobile commerce for its merchants.

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