|By Ian Khan||
|June 1, 2015 12:00 PM EDT||
What the Shopify IPO Means for Canadian Tech and the Cloud?
The launch of the Shopify IPO on the NYSE is a leap forward and a testimony tothe high quality of the Canadian technology sector. In its first trading day, Shopify was oversubscribed by 51%
As a solution-focused company, for us it's a day of pride and tribulations to see a fellow technology company launching a successful IPO on one of the world's greatest trading desks, Shopify, that started with humble beginnings, is one of the latest IPO's to hit the market that is both tech, and Canadian. As a Canadian company Shopifys IPO success is a testimony to Canada being a breeding ground for world-class software companies. Shopifys and its solutions are not new to the industry, but the culmination of the right solution at the right time and a lot of hard work is evident from their success. Today, Shopify's ecommerce platform serves the needs of over 165,000 merchants.
For the Canadian technology sector, whether it is in Montreal, Waterloo, Toronto or Vancouver, the timing could not be better. Canada is home to a large number of successful startups that have grown tremendously. The Shopify IPO is also a proof of the success of the Cloud and its many applications. The Cloud is driving demand, helping companies generate revenue and also helping with social change. Gartner, an industry analyst firm, predicts that the Cloud is going to be a $200 billion industry by 2020, and while this may seem a great number to envision, the reality is that the Cloud may also see an exponential growth in the next decade and might as well be worth over a $1000 billion over the next 10 years.
Companies such as Shopify are a small example of how the Cloud is changing the world of business. It is still early days for the eCommerce provider to set an example of being highly successful and becoming a market leader. The challenges of launching an IPO are significantly different from that of growing an organization, and while the sudden influx of cash flow from investors can definitely transform the business, it can also be catastrophic if not coupled with a strong vision and revenue generation strategy.
For now though, let's give a big hand to Shopify for a successful IPO and a great start. Hopefully it will inspire thousands of small technology companies in Canada to see a clearer vision, dream big, and grow to their fullest. Shopify now has the potential of being a great Canadian success story and a testimony of the highly creative and conducive environment Canada provides. More than anything else it is evidence that Cloud technology continues to shape our lives and create positive change to make things better.
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