Lightspeed one-time net loss of $814.8 million USD sends Groundhog Day signal: six more weeks of tech winter
Lightspeed makes slight revenue gain but faces recessionary pressures in the marketplace.
Retail
R|T: The Retail Times – Shopify loses third C-Suite exec since September
Plus: Tiny Capital enters deal to go public.
RocketRez closes $20 million CAD Series B to fuel European tourism expansion
CEO: “We’re a little company in Manitoba taking on the world.”
Shopify CTO Allan Leinwand to depart company, citing “personal reasons”
CEO Tobi Lütke to also lead R&D as Shopify loses third C-Suite exec since September.
R|T: The Retail Times – Why everyone is making layoffs—except Apple
Plus: Inside the battle for the future of Amazon.
Tiny enters deal to go public on TSXV through merger with WeCommerce
Tiny created WeCommerce in 2019 to acquire Shopify partner businesses.
Layoffs spread to Clutch, Canada Drives as online auto marketplaces gear down
Clutch cut approximately 65 percent of its staff.
After navigating “major” changes to restaurant industry, Notch closes $13.7 million CAD to fuel pivot to FinTech
CEO: “When you have to pivot in COVID, that’s a challenging place to be.”
R|T: The Retail Times – Shop Pay vs. ‘Buy with Prime’ begins
Plus: TikTok Parent ByteDance’s E-Commerce Volume Surged in 2022.
Lightspeed to lay off 300 employees as it targets “profitable growth”
Lightspeed says layoffs aim to streamline operations, “unify” acquisitions.
R|T: The Retail Times – Shopify targets enterprise retail with new commerce stack
Plus: Amazon plans more layoffs.
GoBolt lays off five percent of staff shortly after $75 million raise, citing worsening consumer demand
With cuts, GoBolt shifts focus away from SMBs to mid-market, enterprise merchants.
Descartes Systems Group acquires shipment management SaaS provider Supply Vision for $16 million CAD
With the purchase, Descartes wants to increase its shipment management capabilities.
Bird Canada takes international counterpart Bird Global under its wing in merger
A Canadian management team will be established at Bird Global.