Shopify’s chief operating officer is leaving the Ottawa-based e-commerce software company to join Opendoor Technologies as its chief executive. In a regulatory filing dated Wednesday, Shopify says Kaz Nejatian’s last day with the company will be on Friday. The filing says Nejatian’s responsibilities will be assumed by Shopify’s executive team. Opendoor, an online real estate […]
Shopify's chief operating officer is leaving the Ottawa-based e-commerce software company to join Opendoor Technologies as its chief executive.
In a regulatory filing dated Wednesday, Shopify says Kaz Nejatian's last day with the company will be on Friday.
The filing says Nejatian's responsibilities will be assumed by Shopify's executive team.
Opendoor, an online real estate company, says Nejatian will also serve on its board of directors.
It says in a statement that Nejatian had been with Shopify since 2019, calling him an "AI-native executive with a track record of transforming products, teams and companies at scale."
Nejatian says in the statement that it's a "privilege" to become Opendoor's leader.
"Few life events are as important as buying or selling a home," he said. "With AI, we have the tools to make that experience radically simpler, faster and more certain. That's the future we're building."
A Shopify spokesperson said Nejatian spent six years there "building products that matter and making merchant services a core part" of the company.
"We’re now entering an exciting arc in our history, with AI speeding up our progress and a team that’s stronger than ever," Ben McConaghy said in a statement.
"(CEO Tobi Lütke) will stay focused on product and the big picture, supported by an executive team whose deep leadership experience sets us up to build on our advantage.”
Nejatian's departure comes as Shopify continues to see rising demand for its e-commerce platform. The Ottawa-based firm reported double-digit revenue growth in its latest quarter and
briefly surpassed Royal Bank of Canada as the country's most valuable publicly traded company.
Shopify reported revenue of US$2.68 billion for the quarter ending June 30, a 31 per cent increase from US$2.05 billion in the same quarter last year. The firm posted a profit of US$906 million.
