E-commerce company Shopify on Thursday provided some much-needed oxygen to the IPO market with a soaring debut. Shopify (SHOP) offered 7.7 million shares at 17, above its expected range of 14 to 16, raising $131 million. The stock closed at 25.68, up 51%, and has a market valuation near $2 billion. Shopify provides a cloud-based e-commerce platform that businesses use to build websites and sell goods online and across multiple
Canada-based Shopify (SHOP) surged on its public debut Thursday, with an initial public offering that exceeded expectations. Shopify priced 7.7 million shares at 17, above the expected range of 14 to 16, raising $131 million. When Shopify stock began trading Thursday morning on the NYSE, shares initially shot up 65% to 28. In the midday trading on the stock market today, Shopify stock was up 49%, above 25. Based in Ottawa, Shopify provides a
Shopify (SHOP) drew enthusiastic investors to its initial public offering, which priced at 17 late Wednesday, raising $131 million. The Ottawa, Canada-based company provides a cloud-based platform that businesses use to manage their stores across multiple sales channels, including Web, mobile, social media and brick-and-mortar locations. The 7.7 million shares offered at 17 each exceeded an expected range of 14 to 16, revised from a previous range