Canadian startup news of the week (11/22/20)

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


Senate passes new rent relief program, June extension of wage subsidy

Prime Minister Justin Trudeau has called for a swift passing of Bill C-9 amid increased concern around the second wave of the COVID-19 pandemic and fears of more businesses shuttering.


Nasdaq acquires St. John's based Verafin for $2.75 billion USD

The agreement included multiple commitments from Nasdaq to keep Verafin’s headquarters in St. John’s, keep its executive leadership team in place, and maintain and increase local employment levels.


Newly introduced privacy law bill includes fines for companies that don't comply

The bill is meant to modernize the Canadian government’s framework for the protection of personal information, specifically in the private sector.


Chime the latest US tech company to expand to Vancouver

Speaking with BetaKit, Chime co-founder and CTO Ryan King said the city’s talent pool and convenient time zone made it an ideal location for its first international office.


Latest Funding, Acquisitions, and Layoffs


RECOMMENDED BY CIBC

How to Beat Silicon Valley at its Own Game with Expensify CEO David Barrett

On the #CIBCInnovationEconomy podcast series, CEO David Barrett admits he never planned to get into the expense management space. But by saying yes to opportunities, he built Expensify into a successful innovation economy.


HOW SET SCOUTER BUILT INDUSTRY-WIDE SAFETY STANDARDS TO STAY IN BUSINESS

Alex Kolodkin, co-founder and CEO of Set Scouter, recounts how he felt as an entrepreneur when one side of his two-sided marketplace disappeared overnight, necessitating staff reductions.


SEAN SILCOFF EXPLAINS HOW 2020 BECAME THE YEAR OF THE CANADIAN TECH IPO

Shopify and Lightspeed aside, Canadian tech IPOs were few and far between. Like most things in 2020, that changed. But why, and why so dramatically?


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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.