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Shopify store growth, sales soar in 2011

Tobias Lutke of Shopify. (file photo)

Published on January 20, 2012; Published on January 20, 2012
OBJ Staff

Business done by stores using Shopify's online store platform increased by 220 per cent year-over-year in 2011, according to the Ottawa company.

Stores had $275 million in sales that year compared with $125 million in 2010, Shopify stated in an infographic on its blog Friday.

Additionally, the number of stores on Shopify's platform increased to 18,200, up 61 per cent from the 11,300 registered in 2010.

Shopify saw explosive growth in 2011, which included picking up more real estate and hiring dozens of people. It also garnered a second round of venture financing.

The firm expects to focus on mobile offerings in the coming year.

Some of Shopify's major clients include Angry Birds, the Beastie Boys and General Electric.

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Markkus Trivoli

- January 21, 2012 at 15:35:29

I'm glad to hear about a local tech startup doing well. There aren't many these days. That is, there are not many local tech shops enjoying sales enough to put them cleanly in the black, AND with a growth curve resembling a fighter jet taking off, rather than a Wright Brother's test craft (...up down...up down). That being said, I do fear for companies like Shopify who are building their business around old fashioned online shopping models. When consumers start to purchase directly through iEEE/wPAL protocol and related direct product acquisition link technology on old fashioned web/mobile, or even in-person, kiosk and brick-and-morter, these any-and-all-shape retailers will have no need for 'shopping cart' style checkout technologies such as what Shopify has built around. I see their value, for the time being, as a bridge gap measure for mid-size and solo shops.

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