Shopify: Tobias Lütke. How a snowboarder built a $150 billion business (2019)
In 2004, German programmer Tobias Lütke was living in Ottawa with his girlfriend.
An avid snowboarder, he wanted to launch an online snowboard shop, but found the e-commerce software available at the time to be clunky and expensive.
So he decided to write his own e-commerce software.
After he launched his online snowboard business, called Snowdevil, other online merchants were so impressed with what he built that they started asking to license Tobi's software to run their own stores.
Tobi and his co-founder realized that software had more potential than snowboards, so they launched the e-commerce platform Shopify in 2006.
Since then, it has grown into a publicly-traded company with over 7,000 employees and $11 billion in revenue.
Timestamps:
07:20 - Tobi discovers snowboarding–and meets his future wife–on vacation in Canada
11:25 - Building a new kind of snowboarding company
29:35 - Pivot point: skateboards or software?
34:25 - The night before Tobi’s wedding, Shopify switches business models
45:25 - The 2008 financial crisis hits… revealing a huge opportunity
58:55 - After a decade, Shopify goes public
This episode was produced by Casey Herman with music composed by Ramtin Arablouei. It was edited by Neva Grant. This archive episode was produced by Katherine Sypher.
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Scaling Shopify: Tobias Lütke and Ben Horowitz on Building a Global Giant
In this episode of Web3 with a16z, Shopify CEO and cofounder Tobias Lütke joins a16z cofounder Ben Horowitz for a conversation recorded live at the a16z crypto Founders Summit.
Together, they explore what it takes to build a breakout startup in a competitive market, the changing landscape of retail, and how to drive workplace change while navigating corporate culture and calls for activism.
Tobias shares the story behind Shopify's growth from a snowboarding store to a global ecommerce platform serving millions of merchants, discusses the moral imperative of creating great software, and offers insights on leadership, innovation, and embracing negativity as a tool for progress.
The episode also touches on the intersection of AI and crypto, the power of decentralization, and the next wave of technologies reshaping business and commerce.
Resources:
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Find Toni on X: https://x.com/tobi
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Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.
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How I Built Resilience: Live with Tobias Lütke and Jon Stein
When Tobias Lütke started Shopify, he wanted to empower merchants to start small and build resilience. Tobi spoke with Guy about the relevance of those principles in 2020, as he explains the rise of Shopify sign-ups during the pandemic. Jon Stein spoke with Guy about starting Betterment in the wake of the 2008 recession, and why this economic downturn could be the perfect time to start a company. These conversations are excerpts from our How I Built Resilience series, where Guy talks online with founders and entrepreneurs about how they're navigating these turbulent times.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Shopify: Tobias Lütke
In 2004, German programmer Tobias Lütke was living in Ottawa with his girlfriend. An avid snowboarder, he wanted to launch an online snowboard shop, but found the e-commerce software available at the time to be clunky and expensive. So he decided to write his own e-commerce software. After he launched his online snowboard business, called Snowdevil, other online merchants were so impressed with what he built that they started asking to license Tobi's software to run their own stores. Tobi and his co-founder realized that software had more potential than snowboards, so they launched the e-commerce platform Shopify in 2006. Since then, it has grown into a publicly-traded company with over 4,000 employees and $1 billion in revenue. PLUS in our postscript "How You Built That," after Barb Heilman invented a device that easily releases child car seat buckles, she started a business with her daughter Becca Davison called Unbuckle Me.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
