Shopify revenue 2015-2023

Shopify generated around seven billion U.S. dollars in total revenues in the fiscal year ending December 31st, 2023. Shopify's total revenue grew rapidly over the measured period, increasing by more than five billion since 2015.

Shopify's evolution: From snowboard retailer to e-commerce powerhouse 

Shopify was founded in 2006, with the original purpose of being an online store selling snowboarding equipment. However, the founders quickly realized that the platform itself had more potential than the snowboarding business. Thus, they shifted focus and launched Shopify as an easy-to-use e-commerce platform for small and medium-sized businesses (SMBs). The company grew rapidly by offering flexible solutions, catering to a wide range of customers, from individual sellers to large enterprises. The revenue of the company reached, in subscriptions solutions alone, over 1,800 billion U.S. dollars worldwide by 2023 and a whopping seven billion in Merchant solutions. The Canadian company experienced exceptional growth, with its market cap rising to over 100 billion U.S. dollars in the same year, however, a decrease if compared to a previous peak two years prior.  

Shopify expands YouTube partnership 

In 2024, Shopify has expanded its partnership with YouTube, allowing eligible Shopify Plus and Advanced sellers in the U.S. to join YouTube’s affiliate program. Through this program, sellers can have YouTube content creators promote their products. Sellers can manage the program, content, and analytics using the Google Merchant Center. Creators can promote products from brands like GoPure Beauty, BK Beauty, and HexClad. Additionally, YouTube is introducing a Chrome extension for creators in the affiliate program, enabling them to tag products in their videos and track potential earnings from promotions.