Q: A rare startup success story: Shopify hits $1-billion milestone
"For Mr. Lütke, having a Canadian investor lead the latest fundraising was key; he had sought domestic money in previous fundraising efforts but was disappointed by an unwilling and risk-averse venture community that was still shell-shocked by the dot-com bust.
Silicon Valley funds were eager to invest early on but only on condition he move the company to the Bay area, something he resisted before teaming up with Bessemer, which imposed no such constraints. “I had an almost unreasonable desire to make this succeed in Canada,” said Mr. Lütke, who is married to a Canadian, has two children, and is a citizen of his adopted country. “Now I have a bit more of a mission: I want to show how much of a company I can build here.”
May be money managers, brokers and financial educators will use this remarkable story to stop considering that selling out is the ultimate game of success for any company in Canada. I am also an immigrant and a very proud Canadian, wishing out loud that we all together build more and grow more this dear Country of ours rather than using it for a short term gain. Congratulations, Shopify!
Publish or not as you see fit as this is a personal comment.
"For Mr. Lütke, having a Canadian investor lead the latest fundraising was key; he had sought domestic money in previous fundraising efforts but was disappointed by an unwilling and risk-averse venture community that was still shell-shocked by the dot-com bust.
Silicon Valley funds were eager to invest early on but only on condition he move the company to the Bay area, something he resisted before teaming up with Bessemer, which imposed no such constraints. “I had an almost unreasonable desire to make this succeed in Canada,” said Mr. Lütke, who is married to a Canadian, has two children, and is a citizen of his adopted country. “Now I have a bit more of a mission: I want to show how much of a company I can build here.”
May be money managers, brokers and financial educators will use this remarkable story to stop considering that selling out is the ultimate game of success for any company in Canada. I am also an immigrant and a very proud Canadian, wishing out loud that we all together build more and grow more this dear Country of ours rather than using it for a short term gain. Congratulations, Shopify!
Publish or not as you see fit as this is a personal comment.
