(Reuters) – Shopify, a Canadian e-commerce company (NYSE:) Inc announced Monday a 10-for-1 stock split. This joins a growing number of other companies who have done the same to increase their share value for investors.

Shopify stated that it will seek approval from shareholders to authorise a new type of share called the Founder Share to Tobi Lutke (its chief executive officer, founder).

As the Founder share provides Lutke with variable voting rights, it will be possible to keep his voting power intact. This combined with the previously-owned shares from other classes could represent 40% of Shopify’s total voting power.

Shopify’s shares, which are listed on the U.S. stock exchange, rose 2.9% in premarket trade to $620. The company stated it wanted to make its stock “accessible” for investors.

Shopify was once the largest Canadian company in terms of market capitalization, trading at $1,600 per month. The firm was unable to retain this title because its stock had lost over half of its value in the past year.

The move is coming on the heels Amazon.com Inc (NASDAQ) and Google-parent Alphabet Inc (NASDAQ) Inc., as well as videogame retailer and “meme” stock. GameStop Corp (NYSE:), have also announced this year’s share splits. Tesla Inc (NASDAQ) had previously stated it was seeking shareholder approval to split its stock.

Shopify announced Monday that each shareholder would be entitled to nine additional shares starting June 22 for every share.

The company’s current class A shares have one vote per share, while class B shares currently have 10 votes each.