The Retail Times is a weekly newsletter covering retail tech news from Canada and around the globe.
Subscribe to R|T using the form at the bottom of this page to ensure you don’t miss out on the most important retail tech news every week!
Kitchener-Waterloo and San Francisco-based retail startup Faire has closed its third major funding round in 13 months. On the heels of its successful European expansion, Faire has secured $400 million USD in Series G financing at a $12.4 billion valuation, nearly quintuple its value following its Series E round last October.
Zip (ASX: Z1P), is a global leader in Buy Now, Pay Later (BNPL), payments, and consumer financing solutions. Zip operates in 13 markets across the world, putting 8 million Zipsters, and 55,000+ merchants at the heart of everything we do – offering innovative, responsible, fair payment products that create a financially fearless world.
For more information, visit: zip.co/en-ca
Shopify’s retail platform susceptible to fake reviews, report finds (THE GLOBE AND MAIL)
A new report has found that Shopify Inc.’s digital retail platform is susceptible to fake product reviews, and says that many of its online stores use apps that enable untrustworthy testimonials.
Québec City-based Coveo’s share price rose in its Toronto Stock Exchange (TSX) debut this week, becoming a bright light in what has been a lacklustre season for Canadian tech IPOs, with many falling short of expectations. Meanwhile, Ottawa’s Telesat began trading on the TSX and the Nasdaq to underwhelming initial results.
Big money rounds flood Amazon aggregator space (CRUNCHBASE)
While many of us will spend a fair amount of money on Amazon this holiday season for gifts, venture capitalists and others are instead putting their money into companies that buy up brands on the Goliath’s marketplace.
In the next BetaKit Live on Thursday December 2, leaders from TELUS Pollinator Fund for Good, the Global Impact Investing Network, and Gotcare explain the corporate venture capital and impact investing space.
Amazon has announced plans to stop accepting Visa credit cards in the United Kingdom in January 2022, citing high transaction fees. Visa has since referred to claims its fees are too high as “inaccurate.”
Emerge Commerce enters B2B space with purchase of WholesalePet.com for up to $31.2 million CAD (BETAKIT)
“This acquisition marks our first foray into both the sticky B2B e-commerce space, as well as the pets vertical, one of the fastest-growing segments in the e-commerce sector,” Halazon said.
Ben Axler, who bets on companies to fail, thinks Canadian analysts who cover Canadian companies are too prone to patriotism and too quick to cheerlead.
What To Expect From Your Lead Investor (BETAKIT)
Silicon Valley Bank shares tips on what to expect from your lead investor and how to build a strong relationship with them.
Apple to launch self-service repair program in early 2022 (WALL STREET JOURNAL)
Customers will be able to fix their own devices, starting with the mobile-phone display, battery and camera, using genuine Apple parts and tools.
“The home renovation market is a $300 billion-plus opportunity that’s backward and immensely frustrating for consumers and general contractors alike.”
Instacart pushes off public offering to focus on grocery services growth (THE INFORMATION)
The decision marks a shift from earlier this year, when Instacart executives discussed listing the company’s shares in the fourth quarter, The Information previously reported.
Theo Van Wyk, Head of Solutions Development and Cybersecurity at CDW Canada, unpacks troubling statistics from a new CDW cybersecurity survey.
Five years after leaving his namesake company, DavidsTea, to pursue other ventures, tea enthusiast David Segal is returning to his passion.