The rumours of a Shopify IPO in 2015 are not going away, and a recent Wall Street Journal report is adding even more fuel to the fire.
Late Friday, the WSJ reported Shopify is planning a U.S.-Canada IPO that could come as early as the spring, involving Morgan Stanley, Credit Suisse Group AG and RBC Capital Markets.
Citing unnamed sources, the report said Shopify is hoping to raise $100 million, which could end up pushing the company to a value comfortably on the north side of $1 billion. While an acquisition is another option, the report said an IPO seems more likely.
OBJ360 (Sponsored)
The value of an Algonquin College degree: Experiential learning, taught by industry experts
Zaahra Mehsen was three years into a biology degree at a local university when she realized she wanted to take a different path. “I realized that it’s not my thing,”
Philanthropy can be about more than doing something positive for others. It can also be a way of righting old wrongs. When Patricia Saputo was in her early 20s, she
Shopify had no comment on the report, said director of communications Mark Hayes.
The e-commerce juggernaut raised $100-million in venture capital in December 2013, leading to a hiring spree and a move to a much larger new office in Performance Court at 150 Elgin St. The company’s website says it now has 120,000 customers who have sold more than $5 billion worth of their products using Shopify’s software since the Ottawa firm’s inception in 2006.
The WSJ report said market conditions will determine the exact timing of the IPO, and that Vancouver-based social media analytics firm Hootsuite and Mississauga health-care software firm PointClickCare Corp. are other Canadian companies considering IPOs in 2015.
