R|T: The Retail Times – The kids are high on Depop

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

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Nuvei filing indicates company may raise up to $1.8 billion USD in new issues, secondary offerings (BETAKIT)

The filing follows a strong first quarter earnings report and a busy few months for the Montréal FinTech company.


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Turkish start-up Getir rides the speedy grocery delivery craze to a $7.5 billion valuation (CNBC)

The Turkish startup is now valued at a whopping $7.5 billion, up from the $2.6 billion it was worth in May.


Gorillas eyes $1bn round with $6bn valuation, including a secondary share sale (SIFTED)

Three people with knowledge of the plans said that the 10-minute grocery delivery company, which raised a €245m round just in March at a unicorn valuation, was hoping to raise as much as $1bn in fresh money in the coming months.


Instacart wants to replace army of gig shoppers with robots (BNN BLOOMBERG)

Instacart Inc. has an audacious plan to replace its army of gig shoppers with robots—part of a long-term strategy to cut costs and put its relationship with supermarket chains on a sustainable footing.


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.


Adeptmind raises $7.5 million CAD to bridge gap between e-commerce and physical retail (BETAKIT)

The Toronto retail tech startup’s previous funding includes approximately $5.4 million CAD ($4.5 million USD) in seed financing from Fidelity Investments in early 2017.


Why Etsy dropped $1.6 billion on Depop (VOX)

The site famous for handmade goods is going after Gen Z.


Home services platform Urban Company raises $255 million at $2.1 billion valuation (TECHCRUNCH)

The new financing round — a Series F — was led by Prosus Ventures, Dragoneer and Wellington Management, while Vy Capital, Tiger Global and Steadview participated in it.


ATCO launches home maintenance startup, promises 200 new Alberta jobs (CALGARY HERALD)

Rümi aims to make home ownership easier by offering a variety of products for sale as well as home maintenance, repair and installation services.


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.


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Goldman Sachs leads $202M investment in project44, doubling its valuation to $1.2B in a matter of months (TECHCRUNCH)

The raise is quite possibly the largest investment in the supply chain visibility space to date.


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.


Amazon faced 75,000 arbitration demands. Now it says: fine, sue us (WALL STREET JOURNAL)

The retail giant is no longer steering customers away from the court system, as companies scramble to find ways to avoid lawyers who file mass-arbitration claims. This comes as a study has also found that Amazon warehouse workers are injured at higher rates than those at rival companies.


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Josh Scott

Josh Scott

Josh Scott is a BetaKit staff writer who loves to tell Canadian business and tech stories. His coverage is more complete than his moustache.