Shopify founder and chief executive Tobi Lutke says the company will benefit from Hoffmeister's more than 20 years of investment banking experience in the technology sector.
The Ottawa-based firm says it lost US$1.2 billion or 95 cents per diluted share, compared with a profit of US$879.1 million and 69 cents per diluted share a year earlier.
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.
Tobias Lütke and Fiona McKean founded the charity in 2019.
Additionally, chief executive Tobias Lütke says he will add the role of chief product officer to his existing duties.
Shopify says it is expanding into fulfilment centres as it looks to grow its footprint in the highly competitive world of online retail
Canada has been trying to grow its innovation sector for decades and prove that it can compete on the world's stage, but Shopify's cofounder believes the country shouldn't be too quick to
Shopify is banning the sale of some firearms and their related parts through its platform.
Prime Minister Justin Trudeau wants Canada to have "a little more swagger" in promoting homegrown innovations.
Shopify unveiled a slew of upgrades and expansions to its platform and services at its Unite conference on Tuesday as the firm attempts t