Shopify - the Success Story of a German Emigrant
Right Hon. Justin Trudeau, Prime Minister (right), and Shopify CEO, Tobias Lütke, have a fireside chat, Tuesday, May 8, 2018, in Toronto at Shopify's annual partner conference, Unite., © picture alliance / empics | J.P. MOCZULSKI
Since July 2021, the e-commerce platform Shopify is shooting through the roof on the stock exchange. With a total of 5.6 billion euros, Shopify managed to achieve as much market value as the Lufthansa Group within three days. The company recently had a market value of just under 168 billion, making it more valuable than any other DAX-listed company. Behind the spectacular success is a 41-year-old man from Koblenz who immigrated to Canada in 2002. Tobias Lütke is the founder and head of Shopify and thus currently Germany's most successful entrepreneur.
With the Shopify software, Lütke not only creates huge market values. Without knowing it at first, he founded an alternative to the market giant Amazon. The value of Amazon stocks has doubled in the past three years - but Shopify's market value has increased eightfold.
Today the school dropout is not only one of the richest Germans and most successful startup entrepreneurs, he now also runs Canada's largest company. His e-commerce platform Shopify is now three times as valuable as Ebay - and the growth momentum is still increasing.