The Shopify IPO

In this episode of Acquired, Ben and David delve into the history and IPO of Shopify, starting with the early days of its founder Tobias Lutke, his passion for programming and snowboarding, and the initial concept of selling snowboarding gear online. They discuss the pivotal moments, including the shift to Ruby on Rails, the transition from a transaction-based to a SaaS model, and the launch of the Shopify platform and Shopify Plus. The hosts analyze Shopify's business model, its competition with Amazon, and the factors contributing to its success, such as its platform approach, value creation for merchants, and strategic decisions around its IPO. They also touch on the bull and bear cases for the stock, highlighting its high valuation and the potential for future growth.