Shopify is a commerce platform that helps entrepreneurs sell online and in-person through an ecommerce store, various social sales channels, and brick-and-mortar through Shopify POS.
What else is there to know about Shopify as a product and as a company? This report will share all of the latest Shopify statistics that are publicly available as of this year.
Facts about Shopify
- Shopify was started in Ottawa, Canada by three co-founders. Today, Tobi Lutke is the sole remaining co-founder and is the CEO of Shopify.
- Shopify employs over 10,000 people worldwide and is a completely remote company, with no full-time staff working from offices.
- Shopify is the second most popular ecommerce platform behind the free-to-use WooCommerce. Market share data shows Shopify is outpacing its other competitors, like Squarespace and Wix.
- There are over 81 themes in the official Shopify Theme Store and nearly 7300 apps in the Shopify App Store. There are free and paid versions for apps and themes.
- Shopify operates two physical spaces for entrepreneurs in LA and NYC.
- Shopify is the first Canadian company to sign a power purchase agreement (PPA) equivalent to powering 100% of office buildings and employee home offices across North America with wind energy.
Company statistics for Shopify
- The latest statistics show Shopify’s Monthly Recurring Revenue (MRR) is $105.2 million as of March 2022, which is a 17% increase from the previous year.
- Shopify’s total revenue for Q1 2022 was $1.2 billion, which represents a two-year compound annual growth rate of 60%.
- Merchant Solutions revenue—from Shopify products like Capital, Payments, and Markets—grew nearly 29% year over year in Q1 2022.
- Shopify merchants generated Gross Merchandise Volume (GMV) of $43.2 billion in Q1 2022, which represents a two-year compound annual growth rate of 57%.
Product/platform statistics for Shopify
- There are over 2 million merchants on Shopify’s platform. For every dollar made by Shopify, merchants selling on Shopify made $38 (measured by Gross Merchandise Value, or GMV).
- Merchants selling on Shopify drove more than $444 billion in global economic activity in 2021, which is a 45% increase from the previous year. Shopify merchants also employ 5 million people.
- Shopify merchants drove nearly $25 billion in cross-border sales in 2021. Small businesses, as defined by the SBA, drove $11 billion of those sales.
- Shopify’s Partner ecosystem—made up of app developers and Shopify Partners—earned $32 billion in revenue in 2021, a 45% increase from 2020. Shopify’s Partner ecosystem earned nearly 7x of Shopify’s revenue in 2021.
Data for this story was collected from information published on Shopify’s Newsroom and the company’s most recent Economic Impact Report. The source for the featured image is Joost.blog.