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Vishu Bheda
•

Medial • 5m

Shopify founder explains what the VCs who passed on Shopify got wrong When Tobi Lütke pitched Shopify to investors, they said no. They thought the market was too small—only 40,000-50,000 online stores existed then. Even if Shopify captured half, it didn’t seem like a big enough opportunity. Years later, one of those VCs asked Tobi what they missed, as Shopify had grown into a $100 billion giant. Tobi’s response was insightful: “You were right about the small market, but Shopify solved the problem causing it. Starting an online store was too hard and expensive. We made it easy, and that unlocked massive growth.” Tobi believes the key is reducing friction. “Friction between demand and supply shapes the world. Every time we simplify something, more people can participate.” Shopify’s success proves this: over a million merchants now use it. The lesson? Don’t just see a small market; look at the barriers holding it back. Solving those opens massive opportunities. If you found this helpful then follow me for more valuable startup insights from the world's best founders.

8 Replies

Replies (8)

Chamarti Sreekar

Passionate about Pos... • 5m

what if we create a similar product to Shopify , place the pricing 1/2 or 1/3 of Shopify and give a feature to just import copy the Shopify store into our product (like telegram gave feature to copy whatsapp chats into telegram which makes shift easier), you don't have to build your store again , it's half the cost - will it be successful

1 Reply

Anonymous 2

Hey I am on Medial • 5m

Friction is the real market killer—solving it unlocks growth!

1 Reply

Anonymous 1

Hey I am on Medial • 5m

Simplify the process, and watch the world join in!

1 Reply

Emilla Filipowicz

Business owner • 5m

[This post has been removed because it does not comply with our rules]

Krish Vaidya

Dreaming big so peop... • 5m

Fun fact Tobi Lutke is a college dropout

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