Wall Street

Is Shopify the New WeWork?

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The Street

By Rob Lenihan Shopify’s shareholders approve a controversial proposal at a time when the e-commerce platform’s stock is tumbling. The news was not well-received on social media. “This is approaching WeWork level idiocy by shareholders,” one person said on Twitter. “At least it’s a minority vote, I suppose.” The comment was directed toward Shopify (SHOP) – Get Shopify Inc. Class A Subordinate Report, whose shareholders approved a propoal giving CEO Tobias Lutke, his family and his affiliates 40% of the total voting power at the Ottawa-based e-commerce platform during the June 7 annual meeting,…

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