Bloomberg – 5/20/15: Shopify Inc. jumped in its trading debut, after the company raised a larger than expected $131 million in its initial public offering. Shopify rose 51 percent to $25.68 in New York Trading, after the shares were sold for $17 each. The stock is also listed in Toronto. Shopify provides software that helps merchants sell their products online. The company was born out of a conundrum for 34-year-old founder Tobias Lutke, who had snowboards to sell over the Internet in 2004. He said in the prospectus that the software options for setting up small businesses online were complex and expensive, and started Shopify in 2006 as a result.
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