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Toymaker Mattel, the company behind brands like Barbie, Hot Wheels, and Fisher-Price, will be one of its first users.
Amazon layoffs to hit Over 18,000 workers, the most in recent tech wave (THE WALL STREET JOURNAL)
Cuts focused on the company’s corporate staff exceed earlier projection and represent about 5% of the company’s corporate workforce.
The customer relationship management software firm shared plans to lay off 10 percent of its staff and reduce its real estate holdings on Wednesday in a regulatory filing.
Instacart Cuts Internal Valuation by Another 20% to $10 Billion (THE INFORMATION)
The new valuation is 20% lower than the one it had in October and nearly 75% lower than the price investors paid for shares early last year, when its paper valuation was $39 billion.
BetaKit is hiring across Canada (BETAKIT)
The publication of record for Canadian startups is growing and needs your talent.
Fewer meetings and no more ‘pineapple on pizza debates’: Shopify changes signal company’s renewed urgency (THE GLOBE AND MAIL)
The sweeping initiatives affect external and internal operations at Ottawa-based Shopify, which provides businesses in more than 170 countries with tools to set up online stores and retail point-of-sale systems.
Shopify in advertising push to fill void left by Apple privacy crackdown (FINANCIAL TIMES)
Harley Finkelstein, Shopify’s president, told the Financial Times, that after striking alliances with Meta and Google in 2022, its “Audiences” marketing tool was a key area of focus at a time when an ecommerce industry slowdown was forcing the $46bn company to make cutbacks in other parts of its business.
The considerations have been satisfied by $750,000 USD paid on closing along with the issuance of 5,625,000 common shares worth $0.12 CAD per share. Additionally, Ackroo will begin making six monthly cash payments of $125,000 USD to Simpliconect beginning on July 1st, 2023.
JD.com’s Richard Liu reasserts control at e-commerce empire, berating executives for poor performance as growth slows (SCMP)
Analysts say reports of Liu’s intervention shows he is still in firm control of e-commerce giant despite stepping back from frontline roles
Flipkart and PhonePe complete separation (TECHCRUNCH)
The move comes as PhonePe, which was acquired by Flipkart in 2016, moves its entire base to India. The payments startup is in talks to raise as much as $1.5 billion at a pre-money valuation of $12 billion and use some of the proceedings to buy back some shares, according to a source familiar with the matter.
Bird Global initially announced its merger with Bird Canada in December 2022, describing its Canadian counterpart as its “most successful platform partner.”
Knix founder says sale of a majority stake in her women’s underwear company was vindication of her vision (THE GLOBE AND MAIL)
“I would often get told that the market wasn’t going to be big enough or that it would make an interesting lifestyle business but ultimately wasn’t venture-backable or whatnot,” Knix Wear Inc. founder Joanna Griffiths says in an interview. “It’s language that I think a lot of female founders hear. "
Apple’s business under growing threat from China’s coronavirus wave (FINANCIAL TIMES)
Supply chain experts warn outbreak following reversal of zero-Covid curbs creates uncertainty for iPhone maker.
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