BUSINESS

Shopify Files For Initial Public Offering Of Up To $100M

04/14/2015 05:05 EDT | Updated 06/14/2015 05:59 EDT
Screencap
OTTAWA - E-commerce software company Shopify Inc. is looking to raise up to US$100 million in an initial public offering.

The company filed documents with the U.S. Securities and Exchange Commission on Tuesday for the offering of subordinate voting shares. Ottawa-based Shopify says it plans to use the money raised from the offering to help grow its business.

It plans to list its shares on the New York Stock Exchange and Toronto Stock Exchange under the symbols SHOP and SH, respectively.

The filing with the securities regulator did not include a price for the shares.

Shopify helps small- and medium-sized businesses sell their goods and manage their operations online.

According to the documents, Shopify lost $22.3 million on $105 million in revenue last year. That compared with a loss of $4.8 million on $50.3 million in revenue in 2013.