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Unreserved closes $33 million seed round to build property auction platform (BETAKIT)
After building a successful car auction platform, E Inc founder Ryan O’Connor has set his sights on bringing online auctions to Canada’s booming residential real estate market through Unreserved. The Ottawa-based startup has secured $33.85 million CAD in seed funding and the support of E Inc investors and real estate professionals alike to support its growth.
Canadian online furniture company Article postpones U.S. IPO amid tech stock selloff, source says (THE GLOBE AND MAIL)
It originally planned to file a prospectus with the U.S. Securities and Exchange Commission later this month.
PayFacto acquires iShopFood Inc. to offer all-in-one restaurant solutions (BETAKIT)
The company was formed as part of a merger of three Canadian companies: B2Billing Payments and Supreme Payments merged, and then acquired CT-Payment, a payment processor.
B.C. firm sues Toronto’s Ecobee in Texas court that’s become a go-to for IP litigation (THE LOGIC)
A B.C. company that’s filed a rash of intellectual property lawsuits against hardware multinationals is suing Toronto’s Ecobee in a Waco, Texas court that’s become a destination for patent litigation.
Review of 11 Canadian tech companies to watch in 2021 (BETAKIT)
Kevin Sandhu reviews his list of the 11 Canadian tech companies to watch in 2021 to check in on how they fared over the past year. In 2021, Sandhu tagged Bluedot, Clutch, Symend, Ollie Order, Craver Solutions, Synctera, Showbie, Elastic Garage, Synex Medical, Lufa Farms, and LifeSpeak as worth watching.
Rental platform Ruckify shuts down after bid to acquire U.K. firm fails (OTTAWA BUSINESS JOURNAL)
Online rental marketplace Ruckify is ceasing operations after the money-losing Ottawa firm’s bid to merge with a U.K. competitor collapsed.
VC economics: why startup valuations are art while dilution is a science (BETAKIT)
Lewis Hower, Managing Director at Silicon Valley Bank, explains the investor mindset and how it can impact startup valuations.
Back Market reaches $5.7B valuation for its refurbished device marketplace (TECHCRUNCH)
If you’re not familiar with Back Market, the company operates a marketplace of refurbished electronics devices — mostly smartphones. In other words, if you think smartphones are expensive, you can get a phone that is still in good condition without paying full price.
GM takes aim at Carvana, Vroom with used-car website (WALL STREET JOURNAL)
The Detroit auto maker is rolling out CarBravo, a new business that helps dealers put their used-car lots online.
CDPQ invests $100 million CAD in AppDirect channel partner program (BETAKIT)
AppDirect has announced a new $100 million CAD commitment from Caisse de dépôt et placement du Québec (CDPQ) to support the growth of channel partners using its subscription commerce platform. CDPQ previously led AppDirect’s $185 million USD September 2020 funding round.
TPG, Goldman, Thoma Bravo bet on Project44 at $2.4 billion value (BNN BLOOMBERG)
Project44, a startup that enables the world’s largest companies to track shipments across the global supply chain, reached a $2.4 billion valuation after raising $240 million in equity funding from an investor group led by TPG, Thoma Bravo and Goldman Sachs Group Inc.’s asset-management arm.
BuildDirect appoints David Lazar as interim CEO as former chief exec Dan Park joins Imperfect Foods (BETAKIT)
Lazar replaces former BuildDirect CEO Dan Park, who transitioned to the role of board chair on December 31.
Ankorstore reaches $2 billion valuation two years after launching its wholesale marketplace (TECHCRUNCH)
Ankorstore lets independent brands sell their products to independent retailers. Those retailers can then sell those products to their own customers. It’s a B2B2C play with a focus on offline sales at the end of the chain.
Jeff Bezos turns 58 today. Here’s how he built Amazon into a $1.7 trillion company and became one of the world’s richest people. (BUSINESS INSIDER)
Amazon struggled to turn a profit at first, but these days, it’s worth $1.7 trillion. Its share price has hit new highs during the pandemic.