Most Powerful People

Canada’s Most Powerful Business People 2016: #11 — Tobias Lütke

Proved it’s safe for tech firms to go public again

Tobias Lütke, Co-Founder & CEO, Shopify Inc.
(Hannah Yoon/CP)

#11: Tobias Lütke

Co-Founder & CEO, Shopify Inc.

Why he matters: Proved it’s safe for tech firms to go public again

@tobi 18,500 followers

Canada’s most promising tech companies have given the public markets a wide berth, leading to a buildup of IPO-ready firms. Tobias Lütke was the first to break ranks, listing Shopify, a platform that enables small- and medium-sized businesses to sell online, in May in an hugely oversubscribed offering. The stock has edged upwards ever since.Lütke’s success seems to have broken the psychological barrier keeping tech founders out of the public markets: Several others have since accelerated or hinted at IPO plans. Lütke scored another big win in September, when digital titan Amazon conceded defeat and chose Shopify to replace its own service for online sellers.

More of Canada’s Most Powerful Business People:

▲ #10 Deborah Gillis
▼ #12 Jason Kenney