If there's one company that worries Amazon in the US it's Shopify.
In 2006, Tobi Lütke turned the e-commerce platform he created to sell his own line of snowboards into a full-fledged software giant that more than 800,000 merchants rely on to power their business.
The rise in direct-to-consumer companies like Allbirds, Outdoor Voices, and Bombas that want to avoid Amazon, with its reputation for keeping an iron grip on data, are helping boost Shopify's ballooning business.
And as more DTC companies experiment with brick-and-mortar stores, Shopify is keeping pace, rolling out technology like point-of-sale payment and ship-to-store features for brands. Moves like this have helped Canadian-based Shopify grow revenue 59% in 2018, to $1.1 billion.
Next up, 38-year-old Lütke wants to test tools like augmented reality with merchants so someone shopping for a couch can virtually fit it in their house before buying it, for example.
"Over the long term, we are hoping to build an institution that enables more entrepreneurship around the world," Lütke told Business Insider. "Contrary to what a lot of people think, entrepreneurship is actually on the decline. In 100 years, I see Shopify as the company that helped reverse this trend line."