Shopify, which provides a cloud-based platform for small businesses to create online stores, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
Shopify competes with seller services providers like Square and Intuit, as well as marketplaces like Amazon, eBay and Etsy (ETSY), the last of which is set to raise $250 million later this week.
The Ottawa, Canada-based company, which was founded in 2004 and booked $124 million in sales for the 12 months ended March 31, 2015, plans to list on the NYSE under the symbol SHOP and the Toronto Stock Exchange under the symbol SH. Shopify initially filed confidentially on February 18, 2015. Morgan Stanley, Credit Suisse and RBC Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.
