Shopify, the company that allows budding entrepreneurs to quickly start a business online, is valued at $1.27 billion dollars.
Shopify, a solid Canadian export that has grown to include well over 162,000 merchants globally, is placing its initial public offering at an impressive $17 per share. The company is expected to enter the NY and Toronto stock exchange this year.
The company, which is subscription-based, also operates in South Africa providing their “Starter” pack to customers with 25 products at a reasonable R150 per month.
A variety of online stores that offer both physical and service-based products like web design, apparel and tattoos have reported to operate on the store in just 48 hours.
With increased interest in SME’s that save consumers wads of cash in tax, business is certainly blooming for Shopify.
As reported by the 2012 SBP survey, ‘Counting the cost of red tape for business in South Africa’, starting up a business with a bank loan or bank overdraft facilities in SA is not an impossible task. Out of a sample of 500, two-thirds of respondents said they were granted with loans.
Brennan Loh, head of business development at Shopify says, “We are pleased with the adoption of Shopify within the South African retail market. We have seen impressive traction across small and medium-sized businesses – approximately 800 active South African merchants sell with Shopify – as they turn to Shopify to help them sell everywhere.”
Being the sole Canadian-based company to be listed on a US Stock Exchange has placed a spotlight on the company who will be pressured to deliver to keen investors who will be keeping an eye on their NY stock exchange symbol, called “SHOP”.
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