“In my worldview, time is energy that you can invest in things, and money is energy that you can invest. Time has significantly more leverage than money in terms of how much energy you get out of time.”
- NATIONALITY: German
- SUMMARY: From Snowboard Shop to Billion-Dollar Company
In 2004, Lütke launched Snowdevil, an online snowboard shop from his garage with his partners, Daniel Weinand and Scott Lake. After looking around and not being satisfied with any of the e-commerce platforms that were currently available, Lütke, a programmer by trade, had decided to build his own in ‘Ruby on Rails’.
Soon after, the Snowdevil founders decided to shift their focus from snowboards to e-commerce and Shopify, the e-commerce platform, was officially launched in 2006.
In 2012, Profit included Lütke on its “The Fabulous 30” list. The Globe and Mail named Lütke “CEO of the Year” in November 2014. By September 2016, more than 300,000 merchants utilized Shopify and over $20 billion worth of gross merchandise on the company’s platforms since 2006.