Shopify recently released its first-ever global impact report. This report shows the growth of businesses that have been built on Shopify, as well as how they have been helping the economy. In this report, we have learned that Shopify now has over one million merchants using its platform, which is a considerable achievement. As of now, Shopify has a market capitalization of $46 billion and customers in 175 countries.
As you can imagine, this news is exciting to many people, especially Shopify’s CEO, Tobi Lutke, who had a lot to say on the matter.
“With over one million businesses now built on Shopify, together we’re rewriting the rules for our modern economy,” said Lutke. “Increasing the collective impact of these businesses is critical. That’s why Shopify provides ambitious entrepreneurs with powerful tools to be successful and connect directly with customers. Other platforms have restricted these opportunities, so we’re arming the rebels of the commerce industry. This report highlights what Shopify has always known: the world economy is better with more voices, not fewer.”
Lutke talks about how this milestone, although merely a dream at one point, is enormous.
“This is kind of blowing my mind right now,” Lutke said as he recalled back to when Shopify’s first store launched, roughly fifteen years ago. “I had an investor who ended up not investing because they told me that the worldwide market for online stores was about 40,000 stores. So it’s just amazing to zoom out and see what happened, how many people are building their businesses, from every downtown area in every city, to the most remote islands in the middle of the Atlantic.”
Although, under normal circumstances, Shopify doesn’t report the number of merchants until the end of every fiscal year, this time they decided to make an exception for the significant milestone.
This is a huge accomplishment and Shopify should be proud. This milestone will open up countless opportunities for the company and continue to help them grow.