After two quarters of sluggish growth, Shopify increases revenues in Q3 2022, but eyes future quarters for road to recovery
Shopify share price rises along with reports of increased revenues in third quarter results.
Retail
RenoRun lays off 43 percent of staff to extend runway as inflation rises and consumer confidence falls
RenoRun founders: “The business climate we are operating in has fundamentally changed.”
R|T: The Retail Times – Instacart reportedly pulling IPO plans
Plus: Does Shopify have a customer retention problem?
Lightspeed promotes CRO JD St-Martin to president as leadership overhaul continues
JD St-Martin joined Lightspeed in 2019 through its acquisition of Chronogolf.
Nolk raises $30 million, acquires home goods brands Ergonofis, Opposite Wall
Nolk intends to use the capital for more acquisitions.
R|T: The Retail Times – Rapid grocery apps fail to deliver
Plus: Instacart Cuts Internal Valuation Third Time.
R|T: The Retail Times – Shein’s value dips, Lightspeed taps Google alum
Plus: Amazon freezes corporate hiring in retail business.
Canada Drives fuels up with $10 million extension to support growth amid economic headwinds
Despite scaling back hiring, co-CEO says Canada Drives is in “a strong position.”
R|T: The Retail Times – How Shopify breathes new life into company meetings
Plus: Instacart cuts staff, curbs hiring in run-up to IPO.
Carbon6 closes $88 million CAD Series A to consolidate “fragmented” e-commerce software space
Starting with Amazon, Carbon6 aims to buy and build more tools for marketplace sellers.
Lightspeed adds Google alum Ryan Tabone as chief product and technology officer
Tabone’s hire comes as Lightspeed shifts focus from acquisitions and integrations to innovation.
Ownly secures $2.55 million, aims to become “Shopify for real estate”
Calgary startup aims to help “old school” real estate developers sell new homes.
R|T: The Retail Times – Affirmed partnerships
Plus: Mexican unicorn gets $810M in debt financing.
Shopify reemphasizes brick-and-mortar with new mobile POS hardware
Shopify says offline retail is ”all the way back.”
Amazon, Square launch buy now, pay later options in Canada
Amazon, Square join growing number of BNPL solutions in Canada.