Calling VistaPrint (NASDAQ:VPRT) "just a print shop" is like calling Amazon.com (NASDAQ:AMZN) "just a bookstore." Much like Amazon.com revolutionized retailing, VistaPrint is shaking things up in an industry that has historically resisted change.

VistaPrint's platform can profitably deliver small orders for little as $35, giving the company a strong competitive advantage. Innovation in its value chain helps make such small print runs possible. The company's sophisticated online system allows users to easily design brochures, business cards, flyers, and other products. In addition, VistaPrint's advanced back-end software aggregates orders and efficiently processes them for manufacturing. (The company has averaged one patent filing per month for its technology infrastructure.)

On average, VistaPrint fulfills 15,000 orders per day. It boasts 6.6 million customers, with about 528,000 added in the last quarter. With such critical mass, the company can offer niche products, like rubber stamps, on a profitable basis.

So far, VistaPrint's bold experiment is working. In the first quarter, revenues increased by 66% to $41.6 million, and net income increased from $2.2 million to $5.3 million, year over year.

With a P/E ratio of 115, VistaPrint's valuation is not cheap. (Fast-growing companies rarely are.) In addition, the company's margins are likely to decline as VistaPrint invests more in its infrastructure.

Interestingly enough, the company's approach is similar to Amazon.com's strategy. VistaPrint wants to be the dominant player in the print space, even if its means lower short-term profits. That's certainly a worthy goal; according to VistaPrint, the market opportunity is about $16 billion. Not bad for a humble print shop.

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Fool contributor Tom Taulli does not own shares mentioned in this article.