S|W: The SaaS Weekly – A Facebook by any other name

The SaaS Weekly is a weekly newsletter covering major SaaS news from Canada and around the globe.

Subscribe to S|W using the form at the bottom of this page to ensure you don’t miss out on the most important SaaS news every week!

Twitter eyes Canada as product launchpad amid developer hiring spree (BETAKIT)

Since its initial announcement of the hub in March, Twitter has hired 60 new Toronto-based engineers. With 180 employees now across the country and dozens more roles to be filled, Twitter is looking to make a long-term investment in Canada.

Hopper acquires PlacePass, scores Marriott Bonvoy as customer for B2B business (BETAKIT)

Montréal’s Hopper is expanding its B2B offering for travel company partners with its acquisition of Boston-based PlacePass. The move follows a busy 2021 for Hopper, which has raised a total of $345 million USD in Series F and Series G financing, the former at a valuation of $3.5 billion.

Q4 Inc. reduces TSX IPO target following weaker than expected investor demand (BETAKIT)

Investor relations software provider Q4 Inc. has cut the size and pricing of its planned initial public offering on the Toronto Stock Exchange after seeing lower than anticipated demand from investors. Q4 resumed its plans to go public on the TSX earlier this month, after putting them on hold in June due to a contract renegotiation.

PayPal is exploring a purchase of Pinterest (BNN BLOOMBERG)

PayPal is reportedly exploring a potential acquisition of social media firm Pinterest that could value the company at around $45 billion. If it takes place, this deal would top the charts in what has already been a record-breaking year for tech mergers and acquisitions.

Sharethrough prices TSX IPO, aims to secure $75 million (BETAKIT)

Sharethrough, which was created earlier this year through a merger between Montréal-based District M and San Francisco’s Sharethrough, is looking to pull in approximately $75 million CAD through its Toronto Stock Exchange initial public offering.

Rumor Avenue acquires FLIK as company aims to empower women founders (BETAKIT)

Short for the Female Laboratory of Innovative Knowledge, FLIK is a social enterprise that connects female founders and aspiring talent for mentorship and apprenticeship opportunities.

Facebook is planning to rebrand the company with a new name (THE VERGE)

Facebook is reportedly planning to change its company name next week to reflect its focus on building the metaverse. The move would follow a damning series of reports from the Wall Street Journal demonstrating Facebook’s awareness of the flaws that riddle its platforms and the harm they cause. Twitter users have already suggested a number of humorous alternatives.

SkyHive secures $49.3 million CAD Series B raise for automated job skills tech (BETAKIT)

SkyHive has raised more than $73.9 million CAD ($60 million USD) to date. The company did not disclose when the Series B round closed.

BBTV, Spotter enter partnership worth $154.7 million to fuel content creator growth and monetization (BETAKIT)

BBTV wants to scale creator growth and monetization opportunities for the company’s existing library of creator content.

With $21 million CoLab aims to double size, enable manufacturing collaboration and communications (BETAKIT)

The round closed in mid-October for CoLab, which makes a platform that enables manufacturing teams to share computer-aided design across their teams, and get feedback in real-time.

Affinio to be acquired by NowVertical Group for $9 million CAD (BETAKIT)

Toronto’s NowVertical Group has reached a deal to acquire Halifax-based marketing software startup Affinio for $9 million CAD. Comparatively, Affinio raised an $11.4 million Series B round in 2017, bringing its total disclosed venture funding to around $17 million.

Hoot Reading secures investment from new $100 million Spin Master venture fund (BETAKIT)

With the fresh capital, Hoot Reading plans to broaden its reach in new markets to address the needs of underserved kids and scale its new Hoot for Companies corporate benefit.

Former Shopify Plus GM Loren Padelford joins US startup Podium as COO (BETAKIT)

Loren Padelford, former general manager and vice president of revenue at Shopify Plus, has joined Utah-based Podium as its chief operating officer.

How this Indigenous-led VC firm invests for financial and community impact (BETAKIT)

Fresh off the final closing of its $25 million initial fund, Raven is now looking to write $250,000 to $2 million cheques into purpose-driven Indigenous-led enterprises.

Cisco Canada survey reveals how startups and SMBs are approaching post-pandemic recovery (BETAKIT)

With responses from over 1,000 startup and SMB leaders, the results show a potential misalignment between leaders’ stated challenges, priorities, and areas for investment.

Josh Scott

Josh Scott

Josh Scott is a BetaKit reporter focused on telling in-depth Canadian tech stories and breaking news. His coverage is more complete than his moustache.

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