Shopify cuts 20 percent of staff, announces sale of logistics division
“There’s no way to make this good news,” Shopify CEO tells employees in company letter.
Markets
BlackBerry considering breaking up its businesses to improve revenue, cash flow
BlackBerry’s year-over-year revenue declined by 18 percent.
Well Health looks to invest $2.5 million into AI companies developing healthcare solutions
Well aims to make at least 10 investments of at least $250,000 each.
BBTV resolves dispute with Ethan Klein as YouTube creators raise concerns over revenue payouts
Prominent YouTubers Kavos and Yo Mama have also taken issue with BBTV’s policies.
Online vehicle retailer E Inc. to delist from TSX citing limited trading volumes
E Inc. expects to delist from the TSX on May 24.
BetaKit’s most-read March stories show #CDNtech sector struggles continue as government innovation promises continue to lag
SVB’s collapse kicked off a month that included new layoffs, bankruptcies, and AI disruptions.
Magnet Forensics to delist from TSX as $1.8 billion merger deal closes
Magnet Forensics acquisition closes following opposition to the deal.
WonderFi, Coinsquare, CoinSmart to merge as Canada’s crypto industry consolidates
Canadian crypto love triangle ends in three-way merger.
Magnet shareholders approve $1.8 billion Thoma Bravo acquisition as campaign against deal proves unsuccessful
Despite vote, dissenting shareholder says “this is not the end of the road for us.”
Regulators force Silicon Valley Bank Canada into liquidation, paving way for auction
Wind-up follows OSFI taking control of SVB Canada earlier this week.
As regulators take over SVB Canada, companies still have questions about impact
CCI estimates low risk for the majority of Canadian companies.
How the Silicon Valley Bank shutdown might impact Canadian tech
The SVB run is done. What comes next?
Magnet shares independent advisor report recommending $1.8 billion acquisition as some shareholders push to halt deal
One of Magnet’s largest investors says $1.8 billion price tag “simply too low.”
Lightspeed COO Brandon Nussey to depart in latest C-suite shakeup
The COO is the latest in a string of exec changes at Lightspeed.
CDPQ makes executive changes following Celsius investment write-off
Crypto winter chill touches more Canadian funds, startups.