Canadian startup news of the week (3/26/23)
Welcome to BetaKit’s startup stories of the week! Here, you will find the week’s most important news, features,…
layoffs
Rewind cuts 27 percent of staff as its growth slows in parallel to Shopify
Amid downturn, e-commerce slowdown, Rewind targets breakeven.
R|T: The Retail Times – SkipTheDishes gets a new CEO…again
Plus: Sobeys pays more than expected for cyber-breach.
A|I: The AI Times – OpenAI unveils GPT-4 as Google-backed Anthropic launches Claude
Plus: How did Siri, Google, and Alexa lose their lead?
Symend reduces team by 25 percent in restructuring, four months after $54 million round
Latest cuts come after Symend laid off 13 percent of staff late last year.
S|W: The SaaS Weekly – Magnet Forensics proxy advisors split on takeover
Is Meta slowing down on Canadian hires post-layoffs?
Canada Drives undergoing restructuring as it files for creditor protection
“The rising costs of holding inventory…has made this specific business model no longer viable.”
BC suffered biggest year-over-year venture funding drop among all Canadian ecosystems in 2022
Investment in the province’s tech startups fell by 67 percent in 2022.
FreshBooks lays off 10 percent of staff as company targets profitability
FreshBooks’ second round of layoffs since December sees third C-suite exec depart in past year.
Canadian startup news of the week (3/19/23)
Plus: Québec and Alberta tech investment bucked 2022 trends.
BC government extends tax credit for digital media companies to cut employment costs
Minister of Innovation says tax credit will help nearly 250 companies in the province.
A|I: The AI Times – Embark Trucks explores liquidation, AI beer invades Alberta
Plus: How the Silicon Valley Bank shutdown might impact Canadian tech
H|T: The Healthtech Times – CAN Health Network expanding… across Canada
Plus: How the Silicon Valley Bank shutdown might impact Canadian tech.
CVCA CEO: Tech still needs influx of capital given possible investor pullback, even as liquidity concerns calm
Longer-term impact of SVB fallout has some in Canadian tech worried.
R|T: The Retail Times – Amazon’s belt-tightening is causing concerns
Plus: Uber rumoured to spin off freight division.