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Myplanet raises $14 million CAD to become leader in emerging ‘composable commerce’ market (BETAKIT)
“We had this ‘aha’ moment back in 2019, where we realized that this category, composable commerce, was right at that tipping point of going to the mainstream,” Myplanet founder and CEO Jason Cottrell told BetaKit in an interview.
“The ecosystem was [becoming] more established, the core vendors were now raising their Series B [and] their Series C [rounds], and so, we kind of sat back and made what at the time was a risk risky bet, but now seems great in hindsight.”
Apple faces growing likelihood of DOJ antitrust suit (POLITICO)
Various groups of prosecutors inside DOJ are assembling the pieces for a potential lawsuit, the individual said, adding that the department’s antitrust division hopes to file suit by the end of the year.
Jombone closes $3.3 million to modernize the blue-collar staffing industry (BETAKIT)
According to Jombone co-founder and CEO Sumit Sahdev, the sector has been working “in an antiquated fashion” for decades, relying on inefficient, expensive, and highly manual processes to find, hire, manage, and pay workers.
“There has been no innovation in this industry for a very, very long time,” Sumit Sahdev told BetaKit in an interview.
Union worked with Uber to ensure Ontario government would not classify gig workers as employees, documents show (THE GLOBE AND MAIL)
The United Food and Commercial Workers, one of Canada’s most prominent private-sector unions, worked closely with representatives from Uber Technologies Inc. to ensure that app-based drivers and delivery workers in Ontario would not be granted employee status – a change that would have expanded their pay and benefits.
Canadian tech companies continue to hire despite downturn – here’s an (incomplete) list (BETAKIT)
Over 300 companies have now added their job listings, indicating a strong and continued desire to hire #CDNtech talent.
Top Amazon seller Packable begins liquidating and announces job cuts after failed SPAC attempt (CNBC)
Packable said in a notice to employees Monday that it was laying off 138 people, or roughly 20% of its staff, with the remaining 372 employees expected to be terminated as “individual winddown responsibilities are completed.” The memo was signed by Leanna Bautista, the company’s chief people officer.
The many hurdles life sciences startups must overcome to commercialize (BETAKIT)
A lot of fantastic innovations find their origins in lab environments, but a working experiment doesn’t easily translate to a commercialized product. Speaking with BetaKit, Muggah shared some common hurdles that life sciences startups face as they move from functioning ideas to marketable products.
Tier Mobility lays off 180 people amid poor funding climate (TECHCRUNCH)
“Ultimately, we have to respond to the current economic and funding climate, reducing the number of projects and business lines we are focussing on as a company in order to accelerate our path to profitability,” wrote CEO Lawrence Leuschner.
Rogers, Shaw push back on regulator’s concerns, say Freedom Mobile deal should allay competition fears (THE GLOBE AND MAIL)
In a pair of new documents filed to the Competition Tribunal, Canada’s merger court, Rogers and Shaw maintained that the regulator’s challenges to their proposed $26-billion deal are premised on fundamental misconceptions about the businesses. They argue the sale of Freedom would spur mobile-service competition and have benefits for consumers.
But Jayme Albert, a spokesperson for the Competition Bureau, said in an e-mail Tuesday that it remains firm in its decision to challenge the merger of Rogers and Shaw in order to protect the public interest.
Brüush Oral Care closes Nasdaq IPO with $15.5 million (BETAKIT)
Brüush began trading on the Nasdaq Capital Market under the ticker ‘BRSH’ on August 3. The company filed to go public with a $17.25 million IPO in the beginning of July. Upon closing of the IPO, Brüush missed its initial IPO target by $1.75 million.
eBay is acquiring trading card marketplace TCGplayer for up to $295M (TECHCRUNCH)
In a statement, TCGplayer founder and CEO Chedy Hampson said the acquisition will give the company a chance to benefit from eBay’s industry experience and resources while TCGplayer continues to operate independently. Hampson noted that he will remain in his position as CEO of TCGplayer. He also said the company will keep its headquarters in downtown Syracuse after the deal closes.
Shopify launches ‘Collabs’ to directly connect creators with merchants (BETAKIT)
Shopify claims that the creator economy can present a new sales channel for its merchants to reach new consumers and tap into the $104.2 billion market that continues to steadily increase.
Instacart launches delivery for large items (RETAIL DIVE)
“With football season just around the corner, Instacart’s Big & Bulky solution can provide customers with items like portable grills and tents for a tailgate or a 55” TV in case they’re watching from home — all in as fast as an hour,” Daniel Danker, chief product officer at Instacart, said in the announcement.
Nandan Nilekani-backed ShopX shuts shop (ENTRACKR)
“ShopX has been instrumental in co-creating the e-B2B industry. Over time, it has become unviable to operate at scale given the low margin profile of the industry, and hence the decision to shut down operations. We have focused on orderly and ethical windup, respecting all company obligations,” said the company’s spokesperson. “The loan and interest obligations of the company are limited to its main shareholders,” the person added.
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