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In 1843, Shapleigh founded one of the first hardware stores in St. Louis on behalf of Rogers, Field & Company.[5] The following year the company was renamed Rogers, Shapleigh & Company.[5] The original store was a four-story building at 412-422 Main Street.[7] The site was chosen for its proximity to the Mississippi River, which was the main source of transportation for goods at the time.[7]

Aside from his connection with the hardware industry, Shapleigh was associated with various other business concerns all of which constitute elements in the development of St. Louis.[6] In 1859, he became identified with the State Bank of St. Louis and in 1862 was elected a director of the Merchant's National Bank, so continuing until 1890, when he resigned in favor of his son Alfred.[6] He was also president of the Phoenix Insurance Company, vice president of the Covenant Mutual Life Insurance Company.[6] He was also invested in the Hope Mining Company and the Granite Mountain Mining Company.[6] Shapleigh also served as a board director of the Hope Mining Company.[8]

Shapleigh died of natural causes at the age of 92.[5] He had been in failing health for many years, but retained his mental faculties.[5] He is buried in Bellefontaine Cemetery in St. Louis