Canadian e-commerce platform Shopify announced its intent to go public today in a filing with the SEC. The company plans to raise up to $100 million in the IPO and will list under the symbol “SHOP” on the New York Stock exchange.

As part of the announcement, Shopify revealed some interesting stats. We’ll break them down below.

  • Annual revenue: Shopify made $105 million in revenue last year, $50.3 million in 2013, and $23.7 million in 2012
  • Recent revenue: $37.3 million in the last three months.
  • Net loss: $1.2 million in 2012, $4.8 million in 2013, $22.3 million in 2014, and $4.5 million in the last three months.
  • Number of merchants: Shopify had 162,261 merchants on its platform as of last month.
  • Number of countries: 150.
  • Cash processed: Shopify processed $3.8 billion in Gross Merchandise Volume last year
  • Uniques: “In 2014, our merchants’ shops averaged 300 million unique monthly visitors, 50 percent of which were from mobile.”

Shopify says that it stands to capitalize on a market of 46 million merchants worldwide who can put their local shops online, but it also notes that its rapid growth may not be sustainable. To date, the company has raised a total of $122 million in venture funding.

Here’s Shopify’s announcement, in full:

Shopify Inc. today announced that it has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (SEC) and a preliminary prospectus with the securities regulatory authorities in each of the provinces and territories of Canada for a proposed initial public offering of its Class A subordinate voting shares. The number of shares to be sold and the price range for the proposed offering have not yet been determined. Shopify intends to apply to list its Class A subordinate voting shares on the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbols “SHOP” and “SH”, respectively.

Morgan Stanley, Credit Suisse and RBC Capital Markets are acting as joint book-running managers for the offering. Pacific Crest Securities, Raymond James & Associates and Canaccord Genuity are acting as co-managers.

A registration statement relating to the Class A subordinate voting shares has been filed with the SEC but has not yet become effective. The Class A subordinate voting shares may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

A preliminary prospectus has been filed with the securities commissions or similar securities regulatory authorities in each of the provinces and territories of Canada containing important information relating to the Class A subordinate voting shares. The preliminary prospectus remains subject to completion or amendment. There will not be any sale or any acceptance of an offer to buy the Class A subordinate voting shares until a receipt for the final prospectus has been issued by the relevant securities commissions in Canada.

The offering will be made only by means of a prospectus. A written prospectus may be obtained, when available, from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, by telephone: 866-718-1649, or by email:; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, by telephone 800-221-1037, or by email:; or RBC Dominion Securities Inc., Attention: Prospectus Department, Three World Financial Center, 200 Vesey Street 8th Floor, New York, NY 10281, or by telephone, 877-822-4089. Copies of the registration statement and Canadian preliminary prospectus may also be obtained, when available, from and


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