Shopify S-1 Analysis - Smiling All the Way to $10B
Tom Tunguz
SEPTEMBER 30, 2017
Shopify is an exceptional business. There are not many software companies who can nearly quadruple their enterprise value in two years. But Shopify has grown from $2.7B in enterprise value to more than $10B. What are the metrics behind this behemoth? First, let’s describe the company a bit. Shopify provides e-commerce infrastructure to merchants.
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