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!
7shifts secures $21.5 million Series B round to scale restaurant staff management platform (BETAKIT)
7shifts raised about $21 million CAD in Series A financing in 2019, including an initial $13 million CAD round that January and a $7.9 million CAD extension in October.
The pandemic effect: IPOs the new path for Canadian tech firms
The Canadian tech ecosystem is thriving in Canada. COVID-19, or the “pandemic effect” has resulted in emerging tech companies in Canada eyeing the public market more than ever for growth. This has led to a tech IPO boom early in 2021, with likely more to come.
U.S. workshare company agrees to buy struggling Breather for just US$3M (THE LOGIC)
The Montreal-based company is less than two years removed from a nine-figure valuation.
Shopify, Google partner on checkout integration (BETAKIT)
Google’s advertising business also competes directly with Amazon’s, which indicates the joint integration with Shopify announced at Google I/O is further raising the stakes.
Tata buys majority stake in online grocer BigBasket (TIMES OF INDIA)
Tata Sons has acquired a majority stake in online grocery seller BigBasket, putting the Indian conglomerate in a direct race with e-commerce players Amazon.com Inc, Walmart’s Flipkart and Reliance Industries.
Former WeWork chief’s gargantuan exit package gets new sweetener (WALL STREET JOURNAL)
In addition, the final package gave him nearly $200 million in cash, let him refinance $432 million in debt on favorable terms and allowed an entity Mr. Neumann controls to sell $578 million in WeWork stock.
Why startups are easier targets for cybercrime (and what founders can do about it) (BETAKIT)
Microsoft Canada CSO Kevin Magee explains how startup leaders can prioritize security without impacting growth potential.
Brazilian proptech startup QuintoAndar lands $300M at a $4B valuation (TECHCRUNCH)
Brazil’s QuintoAndar, which has developed a real estate marketplace focused on rentals and sales, has seen impressive growth in recent years.
JD Logistics soars in Hong Kong debut, extending the empire of ‘China’s Amazon’ (FORTUNE)
The IPO that raised $3.2 billion was Hong Kong’s second-largest listing of the year and bright spot for the city’s bourse after several first-day flops.
General Assembly Pizza set to go public on TSXV June 3 (BETAKIT)
GA Pizza secured a $13 million CAD Series A round via private placement in February led by Gravitas Securities before filing to go public on the TSXV in early March.
DC attorney general launches antitrust suit against Amazon (THE VERGE)
The suit accuses the company of stifling competition through Marketplace pricing requirements.
Forter raises $300M on a $3B valuation to combat e-commerce fraud (TECHCRUNCH)
The new funding, a Series F, values Forter at $3 billion — notable not least because the funding is coming only about six months since Forter’s previous round, a $125 million Series E that valued it at over $1.3 billion.
Amid acquisitions, organic growth, Lightspeed doubles Q4 revenue despite increase in net losses (BETAKIT)
According to Lightspeed, Q4 was a record quarter for Lightspeed Payments, and fiscal 2021 was a “transformative” year for the company between its acquisitions, new product offerings, NYSE listing, the recent launch of its supplier network, and Google tools integration.
China’s ‘Uber for trucks’ heads for billion-dollar-plus U.S. IPO (WALL STREET JOURNAL)
Full Truck Alliance is seeking a valuation of between $20 billion and $30 billion, according to people familiar with the situation.
