Paul Schulte, Advisor, Banking and Financial Services
August 22nd, 2019
Paul Schulte is the Founder and Managing Editor of Shulte Research based in Singapore. Paul's roles[...]
Shopify displaces RBC to become Canada’s most valuable company
BNN Bloomberg | | May 6, 2020
Shopify Inc. has displaced Royal Bank of Canada (RBC) as the nation’s largest public company. The ecommerce platform provider’s market capitalization surged to $120-billion Wednesday afternoon to eclipse that of the nation’s largest lender.
See:
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RBC leads $20 million Highline Beta fund that helps start-ups sell to large corporations
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Shopify Launches Rebuilt POS to Offer Flexibility Post-COVID
The lead held past the closing bells on Wednesday, as Shopify ended the session with a market cap of $121.3 billion, compared to RBC’s $120.5 billion.
It’s been a meteoric rise for the Ottawa-based tech darling, with shares up 98 per cent year-to-date amid optimism the company will capture more business as consumers stay at home during the COVID-19 pandemic. Shopify said Wednesday its first-quarter revenue jumped 47 per cent year-over-year to US$470 million.
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