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Shopify Files for IPO

Shopify today announced that it has filed for an initial public offering.

Shopify intends to appear on the New York Stock Exchange and the Toronto Stock Exchange under the ticker symbols “SHOP” and “SH” respectively.

Morgan Stanley, Credit Suisse and RBC Capital Markets are acting as joint book-running managers for the offering. Pacific Crest Securities, Raymond James & Associates and Canaccord Genuity are acting as co-managers.

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The number of shares to be sold and the price range for the proposed offering have not yet been determine, according to the Ottawa-based company.

Shopify, one of the most innovative companies in Canada, won Employer of the Year in the 2014 Canadian Startup Awards.

Shopify now houses 140,000 stores, up from 80,000 in 2013. Those stores registered an impressive $3.7 billion in sales, up from $1.6 billion in 2013.

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