S|W: The SaaS Weekly – How Microsoft crushed Slack

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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!

Slack to be acquired by Salesforce for $27.7 billion USD (BETAKIT)

Vancouver-founded communications software company Slack is set to be acquired by Salesforce for $27.7 billion USD, in a cash and stock deal.


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.

How Microsoft crushed Slack (THE VERGE)

Slack first succeeded with small teams who wanted to accelerate their work and was often dragged into organizations by early adoption. But today, waves of consolidation are leaving people with fewer real choices.

PICTURESTART founder and CEO Erik Feig joins Wattpad Studios as advisor (BETAKIT)

Wattpad Studios, the film and TV production arm of Toronto-based Wattpad, has brought on Erik Feig, founder and CEO of PICTURESTART, as an advisor.

How Discord built a $7 billion platform — without ads (ADWEEK)

A look at how the chat service began, its stance on moderating content and where advertisers can fit in.

GoSecure raises $14 million, bringing Series E to $35 million USD (BETAKIT)

The funding was led by W Investments Group, based in Montreal.

BlackBerry and Amazon team up on vehicle data and software platform (REUTERS)

IVY is designed to complement and run simultaneously with new digital vehicle architectures developed by Volkswagen, General Motors and others.

Canadian cybersecurity leaders say ecosystem requires community to grow (BETAKIT)

Kevin Magee (Microsoft), Christopher Salvatore (Cybersecure Catalyst), and Tahseen Shabab (Penfield) explore how Canada can build a cybersecurity ecosystem.

TikTok sale deadline is put on hold as talks with U.S. continue (BNN BLOOMBERG)

While the deadline has been extended multiple times, it is not expected that TikTok will receive a new deadline, said the people, who asked not to be identified because the decision isn’t yet public.

Tread tracks positive momentum as COVID-19 fuels tech adoption in construction sector (BETAKIT)

Tread saw “an almost overnight shift” in the construction industry’s willingness to adopt digital tools due to the pandemic.

OnlyFans is a billion-dollar media giant hiding in plain sight (BLOOMBERG)

The site wants musicians, gamers and athletes to join adult models in selling subscriptions.

Hootsuite names Tara Ataya chief people, diversity officer (BETAKIT)

Hootsuite has promoted Tara Ataya, previously the company’s VP of people, to serve as chief people and diversity officer.

Netflix sued by Activision for poaching CFO (HOLLYWOOD REPORTER)

Netflix is facing another executive poaching lawsuit, this time from gaming giant Activision Blizzard over the departure of CFO Spencer Neumann.

Faire megadeal icing on top of Waterloo Region’s strong Q3 2020 (BETAKIT)

Startups raised a total of $349.5 million in Q3 2020, a 135 percent increase for the Waterloo Region.

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.

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