Shopify market capitalization history 2015-2024

The market capitalization of e-commerce platform Shopify has increased significantly in recent years, from 2.05 billion U.S. dollars in 2015 to 146.96 billion U.S dollars in 2024. The Canadian company experienced year-on-year growth of 200 percent in consecutive years in 2019 and 2020, leading to its market capitalization peaking in 2021 at 171.57 billion U.S. dollars. This period of huge growth can be partially attributed to mobility restrictions and high street store closures which were implemented around the world during the COVID-19 pandemic, resulting in significant growth across the whole e-commerce industry. Shopify's market capitalization then fell significantly in 2022 as these pandemic-related restrictions were lifted in most regions.