5 Things You Didn't Know About Shopify
Even with their recent pullback, Shopify (NYSE: SHOP) shares have more than doubled in the past year and have been a solid multi-bagger for those who have held them more than a couple of years. Given the incredible gains, some investors might be tempted to sell shares and "lock in" profits. But I'd contend that that's a short-sighted approach. You are likely underestimating this innovative e-commerce platform's ability to continue to grow, and selling today could be detrimental to your portfolio returns.
Let's look at five things you might not know about Shopify that might just persuade you to hold on to your shares.
In 2008 co-founder and CEO Scott Lake left Shopify, which left his co-founder and chief programmer, Tobias Lutke, in the role of leading the company. Not wanting the job, he met with Silicon Valley venture capital firms to find someone else to fill the role, but the search was unsuccessful. Angel investor John Phillips finally convinced Lutke to stick with it by saying "Tobi, you will never find anyone who will care about Shopify as much as you do. And so you should just give this a go." Luckily, the reluctant software guru embraced the challenge and by every measure has proven to be a tremendous CEO.
Source Fool.com
