The Shopify IPO
Acquired6 Elo 2019

The Shopify IPO

Ben and David head north of the border to Ottawa, Canada to cover perhaps one of the greatest IPO success stories of the past 5 years, Shopify. From humble beginnings as a “lifestyle business” hawking hipster snowboard gear online to now routinely mentioned in the same breath as Amazon, the tale of Shopify and its incredible CEO Tobi Lütke’s ascent is not one to miss!

Editor's note: Shopify actually powered $41b of sales, not $14b, in 2018, as discussed toward the end of the episode. $14b was the fourth-quarter number. While this changes the analysis of value captured at the end of the episode (Shopify only captures 2.5% of merchant sales as their own revenue, not 7%, which is admittedly very different), it doesn’t change overall sentiment on the company discussed in the episode.

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© Copyright 2015-2025 ACQ, LLC

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Episode 3: Twitch

Episode 3: Twitch

Ben and David discuss Amazon's acquisition of Twitch in 2014. Unlike previous episodes, this recent acquisition still has a lot of open questions, and Amazon hasn't publicly reported growth of Twitch since the purchase. Ben and David talk about Justin Kan's original product with Justin.tv, and the transformation into the Twitch that Emmett Shear is running today.Sponsors:Rippling: https://bit.ly/acquiredripplingStatsig: https://bit.ly/acquiredstatsig25Odd Lots: https://bit.ly/acquiredoddlotsServiceNow: https://bit.ly/acquiredsnMore Acquired!Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLC

16 Marras 201555min

Episode 2: Instagram

Episode 2: Instagram

Ben and David discuss Facebook's acquisition of Instagram in 2012. Was it a success? If so, what are the criteria that made it work? What lessons can be learned for other acquisitions in the future?Sponsors:Rippling: https://bit.ly/acquiredripplingStatsig: https://bit.ly/acquiredstatsig25Odd Lots: https://bit.ly/acquiredoddlotsServiceNow: https://bit.ly/acquiredsnMore Acquired!Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLC

1 Marras 201544min

Episode 1: Pixar

Episode 1: Pixar

Ben and David discuss Disney's acquisition of Pixar in 2006. Was it a success? If so, what are the criteria that made it work? What lessons can be learned for other acquisitions in the future?Sponsors:Rippling: https://bit.ly/acquiredripplingStatsig: https://bit.ly/acquiredstatsig25Odd Lots: https://bit.ly/acquiredoddlotsServiceNow: https://bit.ly/acquiredsnMore Acquired!Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLC

15 Loka 201539min

Trailer: What is Acquired?

Trailer: What is Acquired?

Every company has a story. Learn the playbooks that built the world’s greatest companies — and how you can apply them. The episodes are deep and heavily-researched, uncovering the full histories behind household names you thought you already knew like Rolex, Amazon, Starbucks, or NVIDIA. Enjoy!

1 Loka 20152min

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