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!
Amazon hit with record EU privacy fine (WALL STREET JOURNAL)
Amazon.com Inc. has been fined 746 million euros, equivalent to $887 million, by a European Union privacy regulator for violations related to its advertising, by far the largest-ever fine under the EU’s data-protection law.
The raise comes on the heels of some major changes for the startup, which rebranded from ChefHero following a pandemic-fuelled pivot.
Acrew Capital, Jeff Bezos back Colombia-based proptech La Haus’ $100M debt, equity round (TECHCRUNCH)
With the latest infusion, Medellin, Colombia-based La Haus has now secured $135 million total for the round and over $158 million in funding since its 2017 inception.
Paystone secures $30 million from Crédit Mutuel Equity as part of plan to expand beyond North America (BETAKIT)
The all-equity round comes about six months after Paystone raised $69 million CAD from the Canadian Business Growth Fund and National Bank of Canada, and brings Paystone’s total institutional funding to $99 million.
Walt Disney Co. is expected to close most of its Canadian stores this summer as part of the company’s broader plan to focus on its e-commerce business and reduce its brick-and-mortar footprint.
Canvaspop declined to reveal the financial terms of the deal, but told BetaKit the final outcome was “very well received” by the startup’s institutional and angel investors and board of directors.
Twitter’s renewed interest in shopping aligns with a general push into e-commerce by retailers who were forced to move sales online during the pandemic.
Through a strategic partnership with Adobe, Walmart will integrate access to Walmart’s Marketplace, as well as its various online and in-store fulfillment and pickup technologies, into the Adobe Commerce Platform.
Ollie Order acquired by Next Glass, aims to bring liquor sales software to Ontario, the US (BETAKIT)
Under the Next Glass umbrella, Ollie has set its sights on bringing its omnichannel liquor sales software to new markets.
Nikola founder Trevor Milton charged with securities fraud (WALL STREET JOURNAL)
Mr. Milton, who resigned from the company last September, faces two counts of securities fraud and one count of wire fraud, according to an indictment.
Growth is great, but angry customers, anxious investors, and new competition could undo the Colombian unicorn’s success.