R|T: The Retail Times – Record-setting closures

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

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Following TSXV debut, Emerge Commerce acquires truLOCAL (BETAKIT)

The deal, which closed December 31, represents the fifth acquisition for Emerge Commerce and its largest to date.


Why San Francisco-based VC Hustle Fund Is Betting Big on Canada

“At Hustle Fund, we’re convinced that Canada is positioned well to produce some of the largest, category-defining companies on the planet. We’re eager to fund these companies, and excited to partner with Hockeystick to identify these opportunities!” – Eric Bahn (General Partner)

Since launch, Hockeystick has made over 6000 funder recommendations to Canadian startups. Learn how startups are using technology to meet funders around the world.

Canadian EV maker Lion Electric partners with Amazon, gives retailer right to buy 15.8 per cent of the company (THE GLOBE AND MAIL)

The Montreal-based company produced 10 trucks for the digital giant as part of a trial run.

Poshmark sets IPO price range, could raise up to $257.4M (CRUNCHBASE)

Poshmark confidentially filed to go public in September and then filed its S-1 in December.

Equifax to tackle e-commerce fraud with $640 million Kount deal (BLOOMBERG)

Equifax Inc. agreed to acquire Kount Inc., which offers fraud protection for e-commerce retailers, for $640 million.

Shopify hires new VP of engineering, looks to add 2,021 new technical staff this year (BETAKIT)

Shopify has tapped Cathy Polinsky as the e-commerce company’s new vice president of engineering as it plans to double the size of its engineering team.

A record 12,200 U.S. stores closed in 2020 as e-commerce, pandemic changed retail forever (FORTUNE)

The pain was concentrated among mall-based retailers, which had been struggling long before COVID-19 made its appearance.

Amazon Pantry is being discontinued as Amazon consolidates its grocery delivery services (THE VERGE)

Despite the fact that Amazon is removing Prime Pantry, the company’s grocery delivery ambitions are still stronger than ever.

StockX snags $2.8 billion valuation in latest funding round (WALL STREET JOURNAL)

StockX LLC, an online marketplace popular with sneaker collectors, raised a fresh round of funding that valued the startup at $2.8 billion, more than doubling its valuation from last year.

Shopify terminates stores affiliated with Trump (BETAKIT)

Shopify has taken down online stores run by the Trump Organization and Trump campaign following the riot held Wednesday at the United States Capitol.

Court rules Deliveroo used ‘discriminatory’ algorithm (VICE)

An Italian court determined that companies can be held liable even if an algorithm unintentionally discriminates against a protected group.

Amazon agrees to buy podcast startup Wondery (WALL STREET JOURNAL)

Amazon.com Inc. said it has agreed to acquire podcast producer Wondery, the online retail giant’s latest move to beef up its audio offerings.

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Caitlin Hotchkiss

Caitlin Hotchkiss

Content coordinator, social media smartypants, wordsmith, Human Workflow™. Exists primarily on coffee, cat pictures, German dance metal, and pro wrestling. I will fight for your right to the Oxford comma.

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