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ApplyBoard announces leadership switch-up, with founding CEO replaced by brother (BETAKIT)
The company announced the move this week, confirming that Meti Basiri took on the role of CEO in August. Martin Basiri continues to be a member of ApplyBoard’s board of directors.
Meta fined over $400 million in EU for serving ads based on online activity (THE WALL STREET JOURNAL)
A top European Union privacy regulator ruled that Meta Platforms can’t use its contracts with Facebook and Instagram users to justify sending them ads based on their online activity, delivering a big blow to the digital advertising industry. The ruling also imposed fines of $414 million on Meta. Meanwhile, Meta has agreed to a settle Facebook’s Cambridge Analytica class action lawsuit for $725 million.
Thomson Reuters closes acquisition of US tax software company SurePrep for $500 million (BETAKIT)
Thomson Reuters and SurePrep had been partners since April of last year. As SurePrep CEO Dave Wyle put it, “this transaction builds on our existing partnership/reseller arrangement to deliver our vision of end-to-end tax automation that solves our customers’ biggest pain points.”
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Fidelity slashes the value of its Twitter stake by over half (TECHCRUNCH)
Fidelity’s Blue Chip Growth Fund stake in Twitter was valued at around $8.63 million as of November, according to a monthly disclosure and Fidelity Contrafund notice first reported today by Axios. That’s down from $19.66 million as of the end of October.
Salesforce layoffs show Canadian employees caught in ongoing Big Tech cuts (BETAKIT)
The customer relationship management software firm shared plans to lay off 10 percent of its staff and reduce its real estate holdings on Wednesday in a regulatory filing.
ByteDance inquiry finds employees obtained user data of 2 journalists (THE NEW YORK TIMES)
The company’s internal investigation showed that workers also obtained data on a small number of other U.S. users.
BetaKit is hiring across Canada (BETAKIT)
The publication of record for Canadian startups is growing and needs your talent.
Editor, British Columbia (Jobbio / Gaulin Media)
Editor, Alberta (Jobbio / Gaulin Media)
Editor, Québec (Jobbio / Gaulin Media)
Staff Writer (1-Year Contract) (Jobbio / Gaulin Media)
Vector Health Labs acquires AI-driven mental health tech startup Get A-Head (BETAKIT)
According to Get A-Head, its integration into Vector Health will enable the latter to expand its offerings from telehealth and non-invasive lab testing to also include mental health support. The acquisition closed in late August this year.
Vimeo is laying off 11 percent of its workforce in another round of job cuts (THE VERGE)
In an email sent to Vimeo workers and posted online, CEO Anjali Sud said ‘ongoing cost discipline’ was necessary to keep the company sustainable.
Ackroo acquires Simpliconnect to bolster client base (BETAKIT)
The considerations have been satisfied by $750,000 USD paid on closing along with the issuance of 5,625,000 common shares worth $0.12 CAD per share. Additionally, Ackroo will begin making six monthly cash payments of $125,000 USD to Simpliconect beginning on July 1st, 2023.
Leaked Slack all-hands meeting reveals a ‘strong culture clash’ and growing rift with parent company Salesforce (FORTUNE)
Executives at Slack, the workplace chat app acquired by Salesforce in 2020, sought to allay employee concerns about Slack’s future Thursday in the wake of recent layoffs, even as they acknowledged a rift between the two companies’ corporate cultures.
AlayaCare co-founder launches venture fund Storytime Capital with $15 million (BETAKIT)
Created by AlayaCare co-founder Neil Grunberg and angel investor Ryan Kimel, Storytime wants to invest in early-stage companies that aim to improve the way people work through technology.
Southwest meltdown shows airlines need tighter software integration (THE WALL STREET JOURNAL)
Southwest relies on crew-assignment software called SkySolver, an off-the-shelf application that it has customized and updated, but that is nearing the end of its life, according to the airline. The program was developed decades ago and is now owned by General Electric Co.
Unbounce’s Peter Housley on hitting your targets in a downturn (BETAKIT)
Housley spoke with BetaKit editor-in-chief Douglas Soltys at the 2022 SAAS NORTH conference and dove into what it means to have a conservative approach in marketing, and the importance of having a laser focus on a ‘core’ customer.
