Shares of Shopify (SHOP 0.81%) leapt 11.5% last month, according to data provided by S&P Global Market Intelligence. The Canadian software maker's incredible ascent continues, as April's gains come after an 18.5% rise in January, a 16.5% gain in February, and a 15% jump in March.

A rising stock price chart

Image source: Getty Images.

So what

Shopify's shares received a boost in mid-April on rumors that eBay (EBAY -0.89%) was considering making a bid for the company.

Such a deal could help to provide a jolt to eBay's somewhat tepid growth rates, as Shopify grew sales at a year over year rate of 75% in the first quarter, compared to only 4% for eBay. Yet as my Foolish colleague Danny Vena notes, eBay has been divesting non-core assets in recent years, such as its PayPal Holdings subsidiary and its stake in Latin American e-commerce giant MercadoLibre, so a deal may be less likely to occur than some investors currently believe.

Now what

Regardless, Shopify's stock is already up another 18% so far in May, fueled by its strong first-quarter results, in which CFO Russ Jones said that Shopify is becoming the "de facto platform for sellers."

If Jones is correct, Shopify -- as the leading provider of cloud-based e-commerce solutions for small and medium-sized businesses -- could be uniquely positioned to benefit from the relentless growth of e-commerce in the years ahead.

As such, the best long-term outcome for Shopify's investors may be for the company to remain independent.