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Lightspeed to lay off 300 employees as it targets “profitable growth” (BETAKIT)
A Lightspeed spokesperson confirmed to BetaKit that these layoffs also represent 10 percent of Lightspeed’s 3,000-person team at roles and functions across the company.
Shein in talks on fundraising that would slash valuation from $100bn to $64bn (FINANCIAL TIMES)
The internet retailer is seeking to close a new fundraising round from existing investors including Abu Dhabi sovereign wealth fund Mubadala, venture capital group Sequoia China and private equity group General Atlantic, according to people with knowledge of the negotiations.
After navigating “major” changes to restaurant industry, Notch closes $13.7 million CAD to fuel pivot to FinTech (BETAKIT)
Much like other food tech companies and the industry it caters to, Notch was hit hard by the pandemic when in-person dining halted amid the spread of COVID-19. As Notch CEO Jordan Huck previously told BetaKit, COVID-19 posed “an extinction-level event” for the startup.
Wayfair Is Laying Off 1,750 Workers (THE WALL STREET JOURNAL)
Wayfair co-founder and CEO Niraj Shah in an email to staff Friday morning said the company had grown too big.
Fivetran, a company valued at over $5.6 billion, is the leader in the modern data movement. Our mission is to make access to data as simple and reliable as electricity.
Our Product and Engineering teams are growing and we’re hiring top tech talent to help us power the data revolution at our new R&D hub in Toronto. Help us solve exciting challenges as we move petabytes of data for 6k companies worldwide.
Come see why Deloitte Technology Fast 500™ names Fivetran one of the Fastest-Growing Companies in North America.
Alberta Innovates’ Bryan Helfenbaum on the future of energy in Canada (BETAKIT)
“The fundamental challenge is how do we maintain the prosperity that we have enjoyed while simultaneously moving into a net-zero world, and in fact, not just surviving, but thriving,” said Executive Director at Alberta Innovates, Bryan Helfenbaum.
Inside the battle for the future of Amazon (VOX)
For years, it seemed as though nothing could stop Amazon’s explosive growth and success. Even a pandemic couldn’t slow it down: In fact, in early 2021, the tech and retail giant reported its largest quarterly profit ever.
But a lot can change in just two years.
Layoffs spread to Clutch, Canada Drives as online auto marketplaces gear down (BETAKIT)
Clutch is laying off 148 people, roughly 65 percent of its staff, while Canada Drives confirmed to BetaKit it has also made cuts, but declined to share the number of people laid off.
How Apple has so far avoided layoffs: lean hiring, no free lunches (THE WALL STREET JOURNAL)
The iPhone maker has been better positioned than many rivals to date in part because it added employees at a much slower clip than those companies during the pandemic. It also tends to run lean, with limited employee perks and businesses focused on hardware products and sales that have so far largely dodged the economic downturn, investors say.
Descartes Systems Group acquires shipment management SaaS provider Supply Vision for $16 million CAD (BETAKIT)
Descartes announced its purchase of Supply Vision last week as the former looks to expand its offerings for logistics service providers (LSPs) through an active acquisition strategy.
Swiggy to lay off 380 Employees, says CEO (THE ECONOMIC TIMES)
The food and grocery delivery company is the latest to join the swelling ranks of startups such as ShareChat, Dunzo, Rebel Foods, Hubilo, Ola and Cashfree to announce layoffs in recent weeks, as the sector weathers a late –stage funding crunch amid global macro-economic and geopolitical turmoil.
What Xero learned after 15 years of building software for SMBs (BETAKIT)
Speaking with BetaKit, Xero's chief product officer Anna Curzon explained the challenges of building what she calls a “purposeful platform” for small businesses.
Hudson’s Bay revives discount retailer Zellers across Canada — but skips downtown Toronto (TORONTO STAR)
Hudson’s Bay announced the first 25 bricks and mortar locations for the revival of its long-dormant discount brand Zellers Wednesday, and downtown Toronto — the most densely-populated area of the country — wasn’t on the list.
BC holds consultations on employment standards for gig workers as Uber, Lyft offer own visions (BETAKIT)
The next steps for regulating gig work are uncertain, says BC's parliamentary secretary for the sustainable economy.
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