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How Shopify Built an Ecommerce Empire Without Owning Inventory

When Shopify went public in 2015, skeptics called it a 'pick-and-shovel play' — a boring tool provider for small online stores. Ten years later, it powers over two million merchants across 175 countries and processes more than $200 billion in annual gross merchandise volume. In this episode, Lucas and Luna trace Shopify's unlikely rise from a snowboard shop's failed website to a platform that reshaped global retail. They examine the strategic bet on third-party logistics partnerships that let merchants scale without warehouses, the controversial decision to build its own…

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