Shares of Shopify, a Canadian e-commerce software maker, surged as much as 69 percent above its IPO price of $17 per share after debuting on the New York Stock Exchange Thursday. (Tweet This)
The Ottawa-based company, which makes software that helps both small and large businesses such as Tesla sell goods online, issued about 7.7 million shares in the offering, raising around $130 million.
Shopify CEO Tobias Lutke said he was not worried about going public in a climate where fellow online retailers like Etsy have seen shares slump. "We love the position we are in," he said in an interview with CNBC's "Squawk on the Street." "It came down to the team was ready, the company was ready, everything was ready."