The SaaS Weekly is a weekly newsletter covering major SaaS news from Canada and around the globe.
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Wattpad to be acquired by South Korea’s Naver Corp. for $754 million CAD (BETAKIT)
Wattpad is set to be acquired by South Korean internet company Naver Corp. CEO Allen Lau says the deal will not slow down plans to make Wattpad a global entertainment giant.
Why San Francisco-based VC Hustle Fund Is Betting Big on Canada
“At Hustle Fund, we’re convinced that Canada is positioned well to produce some of the largest, category-defining companies on the planet. We’re eager to fund these companies, and excited to partner with Hockeystick to identify these opportunities!” – Eric Bahn (General Partner)
Since launch, Hockeystick has made over 6000 funder recommendations to Canadian startups. Learn how startups are using technology to meet funders around the world.
PlayVS acquires GameSeta to accelerate expansion into Canada (TECHCRUNCH)
The deal will accelerate PlayVS during its growth phase and help it expand into the Canadian market.
Ottawa cloud backup startup Rewind raises $19 million CAD Series A (BETAKIT)
Rewind has closed a $19 million CAD ($15 million USD) Series A round of financing as it looks to capitalize on and expand its “backup-as-a-service” business.
Parler’s new partner DDoS-Guard has ties to the Russian government (BLOOMBERG)
Parler LLC, the social media app popular with Trump supporters and conspiracy theorists, is attempting to get back online with the help of a Russian company whose clients include an internet service provider to Russian intelligence, raising concerns about the conservative social forum’s security if it ever formally returns.
Benevity’s Bryan de Lottinville to step down from CEO role for second time in the last year (BETAKIT)
Benevity’s founding CEO, Bryan de Lottinville, is stepping away from the leadership role – for the second time in less than a year.
An Australia with no Google? The bitter fight behind a drastic threat (NEW YORK TIMES)
The big tech platforms are facing a challenge unlike any other as Australia moves to make them pay for news.
Hopeful raises $400,000 to help nonprofits harness data (BETAKIT)
Nonprofits face a big problem in reaching donors: harnessing data. Hopeful, a Toronto startup that recently raised funding, is looking to help fill that gap.
TripActions raises $155M at $5B valuation as corporate travel recovers from pandemic lows (TECHCRUNCH)
Valuation marks are normally only moderately useful, but in the case of TripActions’ latest round carry more weight.
Vancouver’s Autozen raises $4.2 million CAD to simplify private auto sales (BETAKIT)
Online car marketplace Autozen has emerged from stealth mode, raising a $4.2 million seed round from undisclosed investors.
Clubhouse announces plans for creator payments and raises new funding led by Andreessen Horowitz (TECHCRUNCH)
Buzzy live voice chat app Clubhouse has confirmed that it has raised new funding – without revealing how much – in a Series B round led by Andreessen Horowitz through the firm’s partner Andrew Chen.
SAP Canada to expand to new Montréal office, bring headcount in city to 1,000 with new hires (BETAKIT)
Global enterprise software firm SAP Canada is growing its Quebec presence with a new office and hires in Montréal.
Judge refuses to force Amazon to put Parler back online (CNBC)
A U.S. judge sided with Amazon in a court order, saying the company’s cloud-computing unit was well within its rights to deny web hosting services to Parler.
Why Ryerson Venture Zone is building a healthtech hub in Brampton fuelled by pilot programs (BETAKIT)
When Ryerson Venture Zone opened applications for its first healthtech incubator program in Brampton, sourcing corporate pilots became a key focus.