S|W: The SaaS Weekly – Google’s bigger pivot

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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!


BC venture deal volume dropped to new low in Q3, but total funding shows a healthy ecosystem (BETAKIT)

Startups in the BC region raised a total of $287 million over Q3 2020, a 26 percent decrease from the previous quarter.


RECOMMENDED BY #CIBCINNOVATIONECONOMY:

Pivoting for Greater Success with 7shifts Founder Jordan Boesch

Not many startups would have the nerve to walk away from two-thirds of their customers. But 7shifts founder Jordan Boesch realized the secret to greater success is focusing on who you’re solving a pain point for.

On the #CIBCInnovationEconomy podcast series, we learn how he turned a chaotic restaurant scheduling system of Post-It Notes and white-out into one of the most successful human resources software systems in the world.


Google and Facebook to be scrutinized by new U.K. antitrust unit from next year (CNBC)

The U.K. government said it plans to create a Digital Markets Unit (DMU) to enforce “a new code to govern the behavior of platforms that currently dominate the market, such as Google and Facebook.”


IBM planning 10,000 job cuts in Europe ahead of unit sale (BLOOMBERG)

The wide-ranging losses will affect about 20% of staff in the region, according to people familiar with the matter. The U.K. and Germany are set to be most impacted, with cuts also planned in Poland, Slovakia, Italy and Belgium.


Toronto venture funding in Q3 rebounds following disappointing first half of 2020 (BETAKIT)

The GTA, which lagged behind several ecosystems and failed to contribute much to Canada’s record funding Q2 2020, showed signs of a rebound in Q3 2020.


Slack missed out on the pandemic’s Zoom boom, leaving it vulnerable (WALL STREET JOURNAL)

Without a strong video offering, the workplace collaboration tech pioneer failed to wow investors.


ByteDance gets another extension from US government for TikTok sale (THE VERGE)

The Trump administration has once again extended the deadline for ByteDance to sell video sharing platform TikTok’s business in the US, Reuters reported.


Expensify CEO David Barrett on why startup founders should ignore the ‘experts’ (BETAKIT)

Expensify CEO David Barrett explained why he ignored experts to build his company for profit, not venture capital growth, on the #CIBCInnovationEconomy podcast.


The end of unlimited Google Photos storage is part of a bigger pivot (FAST COMPANY)

Google is still an advertising company. But as ad growth gets tougher, there are plenty of signs that it sees subscriptions as a big part of its future.


Hollywood grapples with mass layoffs as the biz redefines itself for streaming future (VARIETY)

This is the winter of discontent for Hollywood workers, as no level of seniority has been spared from the wave of mass layoffs.


Today in acquisitions: Tulip, Intelex, SalesRight, Robin (BETAKIT)

Over the past week, five Canadian tech startups have been involved in acquisition deals. Here’s the latest on Canada’s movers and shakers.



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Caitlin Hotchkiss

Caitlin Hotchkiss

Content coordinator, social media smartypants, wordsmith, Human Workflow™. Exists primarily on coffee, cat pictures, German dance metal, and pro wrestling. I will fight for your right to the Oxford comma.