Canadian startup news of the week (1/24/21)

wattpad

Welcome to BetaKit’s startup stories of the week! Here, you will find the week’s most important news, features, and editorials published on BetaKit. If you prefer this update hit your inbox every week, make sure to subscribe to the BetaKit Newsletter using the form at the bottom of this page.

Top Stories of the Week


Following Wattpad acquisition, CEO Allen Lau says "I'm not done yet"

BetaKit was first to confirm reports of Wattpad’s pending acquisition by South Korean internet company Naver Corp. for $754 million CAD ($600 million USD). CEO Allen Lau told BetaKit the deal will not slow down plans to make Wattpad a global entertainment giant.


DMZ returns to early-stage focus as hub eliminates "crown jewel" accelerator program

“It became pretty obvious for us that the space was getting pretty busy in terms of how many accelerator programs existed.”


NGen Supercluster nears two-thirds of $230 million budget committed with new COVID-19 supply projects

To date, NGen has approved investments of $148 million in 62 projects.


Pandemic, floorspace expansion delay opening of Toronto's Indigenous Centre for Innovation and Entrepreneurship until 2022

Toronto Centre city councillor Kristyn Wong-Tam told BetaKit the ICIE has been delayed for three reasons.


Latest Funding, Acquisitions, and Layoffs


RECOMMENDED BY HOCKEYSTICK

Why San Francisco-based VC Hustle Fund Is Betting Big on Canada

“At Hustle Fund, we’re convinced that Canada is positioned well to produce some of the largest, category-defining companies on the planet. We’re eager to fund these companies, and excited to partner with Hockeystick to identify these opportunities!” – Eric Bahn (General Partner)

Since launch, Hockeystick has made over 6000 funder recommendations to Canadian startups. Learn how startups are using technology to meet funders around the world.


SHOPIFY’S DEPLATFORMING POLICY

Canada’s most valuable company just booted the outgoing US leader off of its platform. Let’s talk about why, how, and if something similar could happen to them, too.


PANDEMIC (YEAR TWO) ACTION PLAN

So what to do about pandemic year two? Once again we turn to Melissa and Johnathan Nightingale of Raw Signal Group, a business management consultancy, for advice.


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Caitlin Hotchkiss

Caitlin Hotchkiss

Content coordinator, social media smartypants, wordsmith, Human Workflow™. Exists primarily on coffee, cat pictures, German dance metal, and pro wrestling. I will fight for your right to the Oxford comma.