Back
Vishu Bheda
ย โขย
Medialย โขย 5m
Shopify founder explains what the VCs who passed on Shopify got wrong When Tobi Lรผtke pitched Shopify to investors, they said no. They thought the market was too smallโonly 40,000-50,000 online stores existed then. Even if Shopify captured half, it didnโt 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. Tobiโs response was insightful: โYou 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.โ Tobi believes the key is reducing friction. โFriction between demand and supply shapes the world. Every time we simplify something, more people can participate.โ Shopifyโs success proves this: over a million merchants now use it. The lesson? Donโt 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.
Replies (8)
More like this
Recommendations from Medial
Vishu Bheda
ย โขย
Medialย โขย 4m
๐ฆ๐ต๐ผ๐ฝ๐ถ๐ณ๐ ๐๐ผ๐๐ป๐ฑ๐ฒ๐ฟ ๐ง๐ผ๐ฏ๐ถ ๐รผ๐๐ธ๐ฒ ๐๐ ๐ฝ๐ผ๐๐ฒ๐ ๐๐ต๐ฒ ๐๐ผ๐๐๐น๐ ๐ ๐ถ๐๐๐ฎ๐ธ๐ฒ ๐ฉ๐๐ ๐ ๐ฎ๐ฑ๐ฒ ๐ช๐ต๐ฒ๐ป ๐ง๐ต๐ฒ๐ ๐ฃ๐ฎ๐๐๐ฒ๐ฑ ๐ผ๐ป ๐ฆ๐ต๐ผ๐ฝ๐ถ๐ณ๐ When Tobi Lรผtke pitched Shopify to investors, they walked away. Their reason? The
See More
The next billionaire
Unfiltered and real ...ย โขย 2m
LEAKED internal memo from CEO of Shopify Tobi around AI 10 quick takeaways i have after reading it: 1. a subtle but huge reframe: โhire an AI before you hire a human.โ 2. AI is now a baseline expectation at shopify. hiring filters will probably fa
See More
Vikas Acharya
ย โขย
Medialย โขย 6m
Shopify: Democratizing E-Commerce Founded in 2006 by Tobias Lรผtke and Scott Lake, Shopify began as a tool to help small businesses create online stores. Key Strategies: Empowering Entrepreneurs: Shopify offered an intuitive platform, enabling anyone
See More
Madhvendra Rathod
Live Totallyย โขย 11m
For my business i have been using Shopify and it's extremely super helpful in terms of everything. Used a lot of Shopify Apps to customize my store, seems like a great market. Any Shopify Dev can share their opinion on the opportunity of Shopify apps
See More
Hiral Jain
Content writerย โขย 1y
Hello everyone! Day 4 of knowing about brands that failed to acquire the Indian market! BISLERI POP What's the first thing that comes to your mind after listening to Bisleri? Water right? Well now we have ideologized it as a very successful water br
See More
Vivek Joshi
Director & CEO @ Exc...ย โขย 2d
Got a great product, team, and traction but VCs are still passing?here are 6 common reasons: * Market Size Too Small: Your concept's proven, but is the total addressable market large enough for VC-level returns (10x+)? VCs seek massive scale, not ju
See More
Download the medial app to read full posts, comements and news.