Shopify Turns 20 — $13B+ ARR and Accelerating, $100B+ Merchant Sales in a Single Quarter
SaaStr·low signal
SaaStr's '5 Learnings' on Shopify's 20th anniversary notes it is now running at $13B+ ARR with growth re-accelerating and processing over $100B of merchant sales per quarter. It's a useful counter-narrative to the 'SaaSpocalypse' thesis: commerce infrastructure with deep network effects is compounding, not being cannibalized, showing which moats (transaction volume, ecosystem) survive the AI transition.