Shopify Is Enjoying a Big Moment and Hoping It Will Last
The creator of online storefronts for companies large and small has made its founder a billionaire.
The Shopify app.
Photographer: Andrew Harrer/Bloomberg
In early April, as British consumers struggled to buy pantry staples amid the pandemic, Heinz decided to open its first-ever online store. Within days, the 151-year-old food brand had a website selling an assortment of beans, pasta hoops, and tomato soup for home delivery across the U.K. The virtual shop did so well that Heinz quickly expanded to offer its trademark condiments and baby food.
Behind the speedy e-commerce pivot was Shopify Inc., a Canadian company that’s remained mostly invisible to consumers but has become the platform of choice for businesses seeking to get online quickly and cheaply. A monthly fee starting at $29 buys a virtual shop and all that’s needed to run it, including the e-tools required to manage such things as payments, inventory levels, and shipping.