All About Postscript Shopify Series Greylock Yckumparaktechcrunch

Postscript Shopify Series Greylock Yckumparaktechcrunch – Shopify, a leading provider of eCommerce software, announced that it has closed a $35M Series B financing round led by Greylock Investment Partners. Shopify’s latest investment comes after the company surpassed $1B in sales this past year. The notable investors in this round include Y Combinator and other notable VC firms such as Andreessen Horowitz and Sequoia Capital. Shopify is now valued at an estimated $2B with an enterprise value of $2.9B based on their latest valuation report. This is the second round for Shopify, and they’re raising a total of $65M.

The company plans to use the funds to expand their product offerings and marketing efforts. They’ll also be investing in new technologies that help merchants increase sales and improve customer experience. Shopify has been growing rapidly over the last few years, with revenues increasing by 55% in 2013 and by 51% in 2014 alone. The company anticipates that this will continue throughout 2015. They’re currently a team of more than 700 employees in Toronto, Ottawa and San Francisco.

Shopify offers an easy-to-use platform for businesses to sell products over the internet. The company offers two eCommerce solutions: a self-hosted solution that includes their own hosted platform, and a ‘Shopify Plus’ option that combines their software with a fully managed hosted solution. Shopify Plus is a popular choice, topping the 2014 Hot Retailers Ecommerce Inc. Top 50 list.

Shopify was founded in 2005 when co-founders Tobias Lütke, Daniel Weinand and Scott Lake met at McGill University’s School of Computer Science. The company originally started as a software development company that helped universities create eCommerce portals. Over time, the company grew and expanded their offerings by adding in accounting and support tools to their portfolio.

This expansion to more products and services was initially met with skepticism by investors. The company struggled for a few years as they made the transition from software developer to eCommerce solution provider. This was until Tobias Lütke, who had previously helped create the C# programming language, joined Shopify as CEO in 2009. Lütke changed Shopify’s image from being a code-only company to one that also works with merchants to improve their business.

After buying the company in 2010, Brian Topp, founder of KANPAS Technologies, helped the company grow their revenues and improve their bottom line. In 2014, Shopify raised a $30M Series A round led by Andreessen Horowitz with participation from Y Combinator, New Enterprise Associates (NEA) and Sequoia Capital.

Shopify publicly announced that they had surpassed $1B in annual sales for 2014 just before the beginning of 2015. They’re expecting this trend to continue as 2015 approaches. Shopify has grown by providing a solid platform for anyone looking to sell online while offering the support they need to succeed and thrive.

Other notable companies focusing on eCommerce software and services include Bigcommerce, Magento, and 3dcart. Each company offers their own package of services that help merchants create an online store and market it with the use of marketing tools like search engine optimization (SEO), search engine marketing (SEM) advertising and email marketing.

Shopify’s main competitor is Bigcommerce, based in Austin, Texas. The company currently claims to serve more than 7000 online stores and growing at a rate of 1% month-over-month. They’re also the only other eCommerce software provider to top the $1B mark in annual revenues.

eBay, Walmart and Etsy are among Shopify’s retail clients as well as Shopkick and other software services that run on Shopify’s platform.