R|T: The Retail Times – Lightspeed posts gains, Shopify invests
Plus: D2C startups not immune to downturn as Article, Mejuri make staff cuts.
Retail
D2C startups not immune to downturn as Article, Mejuri make staff cuts
Article and Mejuri have cut their workforces by 17 and 10 percent, respectively.
RenoRun lays off 12 percent of staff, pauses geographic expansion amid uncertainty surrounding consumer spending
CEO: “There’s just a level of uncertainty right across the board.”
Lightspeed’s revenues increase even as its losses widen in fiscal first quarter for 2023
Lightspeed’s results were better than expected.
R|T: The Retail Times – Shopify’s bet didn’t pay off
Plus: Has the scooter boom finally gone bust?
Partnership with Mailchimp competitor Klaviyo marks Shopify’s second strategic investment in recent weeks
Recent SEC filing indicates Shopify may have invested $100 million USD in Klaviyo.
Fable raises $8.4 million CAD Series A to fuel move beyond tableware
Fable wants to sell “all the little items … that make a house a home.”
R|T: The Retail Times – Shopify presses play on YouTube, Lightspeed pairs well with OpenTable
Plus: Unreserved files $25 million lawsuit against real estate associations.
Shopify’s Q2 2022 growth continued to slow amid changing e-commerce market conditions
The results come one day after a 10 percent, company-wide reduction in staff.
Shopify laying off 10 percent of staff
Lütke: “It’s now clear that bet didn’t pay off.”
Tech-enabled fulfillment company Darwynn closes $20 million pre-seed round
Darwynn says its facilities take up less space and costs less to operate.
Blume secures $2 million CAD to scale latte replacement product
Ex-Frank and Oak exec buys into Blume’s first institutional round.
Real estate auction platform Unreserved files $25 million lawsuit against real estate associations
Startup claims defamation and interference in Unreserved’s economic interests.
R|T: The Retail Times – Inside Amazon’s strategy to shield its profits from Canadian taxes
Plus: Shopify completes acquisition of Deliverr.
Lightspeed expands systems integration with OpenTable
Lightspeed gives OpenTable a seat in its growing reservation platform network.