S|W: The SaaS Weekly – Clubhouse, competitors, and copycats

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!


Unsplash to be acquired by Getty Images (BETAKIT)

“This partnership is an important milestone for Unsplash, but our mission of Photos for Everyone remains unchanged.”


How did Facedrive, a tiny Canadian tech startup, become a multibillion-dollar company? (THE GLOBE AND MAIL)

Its stock has soared as it has branched into everything from COVID-19 contact tracing to ride sharing – yet it’s also a small company with meagre revenue and no high-profile venture capital behind it.


Following merger with Kelowna’s Bananatag, Staffbase secures $145 million (BETAKIT)

Bananatag, which began as email tracking software, grew into an internal communications platform used by over 600 organizations before merging with Staffbase.


Facebook’s Instagram for kids will be money (WALL STREET JOURNAL)

Its potential Instagram-like app for children could pay off handsomely. In less positive news for Facebook this week, its purchase of Giphy is set for in-depth U.K. antitrust probe.


Online car retailer Clutch secures $60 million (BETAKIT)

The announcement of the Series A financing comes less than one year after Clutch raised $7 million CAD in a seed round led by Real Ventures.


India’s first unicorn plans U.S. IPO at value of up to $15 billion (BNN BLOOMBERG)

A successful debut could make InMobi the first of India’s unicorns to directly list in a U.S. stock exchange, highlighting the country’s shift beyond information technology and outsourcing services.


Second Closet secures $20 million as it shifts focus away from self-storage towards B2B third-party logistics (BETAKIT)

With more than $35 million in total funding to date under its belt, Second Closet is now ready to focus solely on its B2B offering.


533 million Facebook users’ phone numbers and personal data have been leaked online (BUSINESS INSIDER)

The data includes phone numbers, full names, location, email address, and biographical information.


Top Hat co-founder Mike Silagadze joins Ripple Ventures as venture partner (BETAKIT)

“Known for his vast experience in scaling online businesses and executing efficient go-to-market strategies, Mike will be a great addition to the Ripple team,” said Ripple Ventures in a statement.


Online learning is ‘here to stay’: Coursera shares soar in its public debut (PROTOCOL)

The online learning platform’s highly anticipated IPO opened 18% above its initial target.


Reddit sets up first Canadian office in Toronto (BETAKIT)

Reddit claims Canada represents the company’s third-largest market, behind the United States and the United Kingdom. The COO of Reddit also says that the new Toronto office will enhance Canadian content and expand partnerships.


Clubhouse’s rise sets off a scramble by rivals to copy it. Here’s who’s trying (FORTUNE)

Buzzy social audio app Clubhouse’s explosive rise has left its bigger social media competitors racing to create copycats.


On-demand delivery platform Tyltgo raises $2.3 million to accelerate Ontario expansion (BETAKIT)

The startup’s team grew from three people last July to nine people currently, and plans to add nine more employees over the next two quarters. In more retail growth this week, QuoteMachine has raised a $1 million seed round to grow their customer relationship management solution.


Three Prairies-based startups close seed rounds, raising combined $2.45 million (BETAKIT)

In separate seed rounds, the three early-stage tech startups have raised a combined $2.45 million CAD in funding. Winnipeg’s VidDay and Regina’s Delta CleanTech also recently announced fresh funding rounds to fuel their growth.


Three barriers to innovation in insurance (BETAKIT)

Duuo’s Director, underwriting argues insurance companies face compliance risks when developing new products to serve Canadians in the digital economy.



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Josh Scott

Josh Scott

Josh is a BetaKit staff writer who loves to tell Canadian business and tech stories. His coverage is more complete than his moustache.