Shopify

In a memo posted on the company website, Shopify CEO announced that the e-commerce company will see about 10 per cent of staff leave by end of day Tuesday.
Software giant confirmed it did not cancel any signed offers to its fall interns, but said it is pausing further recruiting efforts in order “to focus on more immediate initiatives.” 
Firm says Shopify's plan to augment founder Tobi Lütke's power in the e-commerce company only passed because of the support from an early company investor and director.
Move comes six months after Zipes left Shopify, where she played a key role in building and leading the e-commerce powerhouse’s legal team from pre-IPO through the pandemic.
Company says 53.68 per cent of shareholders, excluding founder and chief executive Tobi Lütke, voted in favour of a plan to grant him key voting power at the company.
Move ensures Lütke, his family and affiliates will hold 40 per cent of the e-commerce software giant's voting power.
Ottawa-based software firm's stock ended the day down more than 14 per cent after company reported a first-quarter loss of US$1.5 billion.
Canadian merchants on Shopify’s platform pumped US$23.8 billion into the country’s economy and helped create more than 142,000 jobs last year, new report says.
Proposal would preserve founder and CEO Tobi Lütke's voting power, but provide sunset provisions that prevent him from transferring that power.
Bench co-founder will lead Shopify Balance, which offers products such as physical or virtual cards merchants can use to deposit and withdraw money from ATMs.