More important than money, higher taxes on options will cost the tech sector talent, insiders say
Is a 15-year-old company with a $30 billion market capitalization and more than 3,000 employees a “large, long-established, mature firm”?
But just where that leaves Shopify, which while still growing quickly has been publicly traded for more than four years and is at the vanguard of the Canadian tech sector, is unclear. Mike Serbinis, CEO of League Shopify did not respond to requests for comment for this story, but their financial filings shed some light on how significant stock-based compensation is for the company.
At the beginning of 2018 Shopify had 10,740,971 shares earmarked for equity-based compensation, which at the time had a value of approximately $1.4 billion. After the budget was released, the Council of Canadian Innovators, which represents more than 100 CEOs of tech companies, argued that Canada doesn’t have any mature tech companies at all.
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