Tobi Lütke

Tobi Lütke co-founded Shopify in 2004 and serves as CEO, building it from a simple online snowboard store into the world's largest e-commerce platform infrastructure company. Shopify powers millions of merchants across 175+ countries, processing over $270 billion in annual gross merchandise volume (GMV) — making it the second-largest e-commerce platform in the U.S. by GMV after Amazon. Shopify's core value proposition is democratizing commerce: providing entrepreneurs and businesses of all sizes with the tools to create online stores, process payments (Shopify Payments), manage inventory, fulfill orders, and reach customers — all without needing technical expertise. The platform has expanded from pure e-commerce into point-of-sale (physical retail), Shop Pay (one of the fastest-growing payment methods), Shopify Balance (financial services for merchants), and Shopify Audiences (advertising tools). This TSX listing gives Canadian investors direct exposure to one of Canada's most valuable technology companies. Shopify's competitive advantage is its ecosystem: the more merchants use Shopify, the more app developers build for the platform, the more payment data improves Shop Pay conversion rates, and the stronger the network effects become. Key stock drivers include GMV growth, merchant solutions revenue (payments, shipping, capital), subscription revenue, international expansion, enterprise (Shopify Plus) wins, operating margin improvement, and the competitive dynamics against BigCommerce, WooCommerce, and Amazon's marketplace.