S|W: The SaaS Weekly – Microsoft makes more—quiet—staff cuts

Microsoft sign infront of building
Plus: BetaKit takes over SAAS NORTH stage in November.

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Vendasta acquires “complementary” US sales enablement tech firm Yesware (BETAKIT)

Vendasta co-founder and CEO Brendan King described Yesware and Vendasta as “complementary businesses,” noting that this move “will increase the speed we bring great technology to market, and pushes both companies’ product roadmap ahead significantly.”

Microsoft quietly laid off under 1,000 employees in teams across the company, from Xbox to government tech (INSIDER)

The cuts appear widespread: conversations with people close to the company and posts on social media sites like Blind and Twitter indicate that the cuts affected everything from the Xbox console gaming division to the cutting-edge Microsoft Strategic Missions and Technology organization.

KC Lemson, a longtime Microsoft veteran and a product manager in the office of the Chief Technology Officer, tweeted on Monday night that she lost her job earlier in the day.

Databricks acquires Vancouver-born Datajoy (BETAKIT)

The startup emerged out of stealth last year when it secured a $6 million USD seed round of funding led by Foundation Capital with participation from Quarry VC, Partech Partners, IGSB, Bow Capital, and Silicon Valley Bank.

Documents detail plans to gut Twitter’s workforce (THE WASHINGTON POST)

Elon Musk told prospective investors in his deal to buy the company that he planned to get rid of nearly 75 percent of Twitter’s 7,500 workers, whittling the company down to a skeleton staff of just over 2,000.

With HQ half a world away, how do Xero’s Canadian hubs stay connected? (BETAKIT)

Speaking with BetaKit, VP of Engineering Patrick Smith explained how Xero’s hubs all stay connected to one another, how employees align to global business decisions, and what it means to ‘be a Xero’ around the world.

Facebook parent Meta admits defeat after Giphy deal is blocked by UK regulators (CNBC)

Citing the risk of a substantial lessening of competition in the social media and display advertising market, the Competition and Markets Authority said Tuesday that Meta must “sell GIPHY, in its entirety, to a suitable buyer.” It is not yet clear which company will step in to buy Giphy.

Mentorship startup Ten Thousand Coffees raises $75 million CAD from US-based Five Elms Capital (BETAKIT)

Ten Thousand Coffees has developed a talent platform for employees that provides what it calls inclusive mentoring, employee connectivity, and skills development.

The startup was created by CEO Dave Wilkin and CTO Elliott Garcea after they realized the need for talent development from their own personal experience and conversations with numerous CEOs and Fortune 500 leaders.

$2.5 Billion–Valuation Security Firm Cybereason Hires JPMorgan to Find Buyer (THE INFORMATION)

The company considered going public earlier this year, according to an employee, but abandoned that idea as the stock market deteriorated. At the same time, Cybereason’s growth has slowed, and acquisition discussions in the cybersecurity market have intensified.

The BetaKit Keynote Stage returns to SAAS NORTH 2022 (BETAKIT)

Similar to last year, SAAS NORTH’s main stage will be renamed the BetaKit Keynote Stage for the entirety of the two-day conference, featuring content co-programmed and moderated by BetaKit.

Snap Stock Slumps as Sales Growth Slows, Advertisers Cut Spending (THE WALL STREET JOURNAL)

Snap, in an investor letter Thursday, said it is operating on an assumption of no revenue growth this quarter from the year-ago period, even though it has seen about 9% growth so far for the period. Analysts surveyed by FactSet have been expecting almost 7% growth for the fourth quarter.

Nate Glubish new Alberta innovation minister as Premier Smith names cabinet (BETAKIT)

“This is my world, this is my wheelhouse,” Glubish said. “Their language is my language, and I’m looking forward to spending more time focusing exclusively on technology innovation-related matters.”

Did this email cost Mailchimp's billionaire CEO his job? (PLATFORMER)

On August 10, Ben Chestnut, the billionaire founder and CEO of Mailchimp, announced he was abruptly stepping down. “Over the last 21 years as Mailchimp’s CEO, I’ve developed a strong sense of timing,” he said in a letter to employees. “Now is the right time for me to take a step aside and evolve my role.”

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Michael Edgar

Michael Edgar

Michael is a multimedia journalist working out of the U.K. and a staff writer for BetaKit.

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