The Bloomberg 50

Tobias Lütke, Canada’s Tech Scene Savior

Shopify’s shares have more than doubled this year, adding about $21 billion in market value to the e-commerce company.

Tobias Lütke, CEO of Shopify Inc. — Tobias Lütke, CEO of Shopify Inc.
Photographer: Patrick T. Fallon/Bloomberg

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By Jacqueline Thorpe

December 4, 2019 at 11:32 AM UTC

This article is for subscribers only.

This article is part of the December 9, 2019 issue of businessweek.

Shopify makes setting up an online store easy by selling tools that manage orders, help with branding, and analyze performance. There are more than 1 million companies selling everything from heirloom popcorn to cars (Tesla Inc.) with Shopify software.

Investor confidence stems, in part, from the news that Shopify is building out a U.S. delivery network. The September announcement that it was buying 6 River Systems Inc. for $450 million—part of a $1 billion investment in fulfillment—could help Shopify win over small merchants wary of being too reliant on Amazon, which is focusing more on megabrands.