R|T: The Retail Times – Amazon’s expanded BC presence

Amazon headquarters

The Retail Times is a weekly newsletter covering retail tech news from Canada and around the globe.

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With new financing, Stoko wants to disrupt the knee brace industry with D2C product for athletes (BETAKIT)

According to the startup, Stoko is the first to market in creating a new category of professional knee brace: supportive apparel.

Secondhand clothing marketplace Vinted raises at a valuation of €3.5bn (SIFTED)

Lithuania’s secondhand fashion unicorn raises a further €250m at a pre-money valuation of €3.5bn.

Following pandemic hit, ChefHero rebrands, refocuses to early success (BETAKIT)

Toronto-based restaurant supply chain software startup ChefHero has officially rebranded to Notch after executing what it says was a successful pivot during COVID-19.

Alibaba calls its $2.8 billion antitrust fine a ‘one-time impact’ — but the risk of more regulation lingers (FORTUNE)

For the period ended March 31, 2021, the company reported a $1.2 billion operating loss as a result of the $2.8 billion fine levied by China’s State Administration for Market Regulation (SAMR).

How Canadian tech is tackling the global problem of food insecurity (BETAKIT)

On the #CIBCInnovationEconomy podcast, Dr. Sylvain Charlebois and Dr. Michael Gilbert talk about food insecurity, and how tech is tackling the challenge.

Amazon to expand presence in British Columbia with five new locations (BETAKIT)

The expansion comes as Amazon has sought to increase its broader Canadian presence, while in the US, the company is hiring 75,000 workers and offering $1,000 signing bonuses in some locations.

A division of SoftBank invests $1.6 billion into an e-commerce start-up’s new ‘influencer platform’ (CNBC)

Formerly known as The Hut Group, THG owns several online beauty and nutrition brands such as Lookfantastic, Mankind, and Myprotein.

DoorDash to expand Canadian presence with new Toronto engineering hub (BETAKIT)

According to the company, Toronto was “a natural choice” given DoorDash’s “ambitious goals and growth in the Canadian market” – especially when the company’s revenue has tripled.

Flipkart in talks to raise $1 billion ahead of IPO (TECHCRUNCH)

The Bangalore-based startup, which sold majority stake to Walmart for $16 billion in 2018, initiated fundraise possibilities with some investors earlier this year and has since grown more serious and hired bankers.

Access to working capital essential to the success of Canadian small businesses (BETAKIT)

American Express Canada VP Paul Roman explains why many Canadian small business owners are still in “survival mode.”

Shoppers already love Chinese brands — they just don’t know it yet (PROTOCOL)

Made-in-China products used to be seen as inferior. Now they’re among the world’s most popular — but won’t acknowledge their origin.

KITS Eyecare begins trading on US-based OTCQX market (BETAKIT)

The move comes months after KITS went public on the Toronto Stock Exchange (TSX) in January, raising $55 million CAD.

TikTok begins testing in-app shopping to challenge Facebook (BNN BLOOMBERG)

TikTok has begun working with merchants in markets including the U.K. on ways they can sell products directly to millions of users within the app, people familiar with the matter say. Meanwhile, Montréal-based audio software startup Landr and Vancouver-based video-first dating app Snack have already integrated TikTok’s new tools into their platforms.

Three strategies for startups looking for new revenue streams (BETAKIT)

Xero Canada Country Manager Faye Pang shares advice for how startups can find new revenue streams from both new and existing customers.

Josh Scott

Josh Scott

Josh Scott is a BetaKit reporter focused on telling in-depth Canadian tech stories and breaking news. His coverage is more complete than his moustache. He was also the winner of SABEW Canada’s 2023 Jeff Sanford Best Young Journalist award.

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