Myplanet raises $14 million CAD to become leader in emerging ‘composable commerce’ market
Myplanet’s customers include New Balance, Harry Rosen, Telus.
Retail
Brüush Oral Care closes Nasdaq IPO with $15.5 million
Brüush missed its initial IPO target by $1.75 million.
R|T: The Retail Times – Groupon to focus on ‘mission critical activities’ following staff cuts
Plus: Alibaba reduced workforce by nearly 10,000 in three months.
Shopify launches ‘Collabs’ to directly connect creators with merchants
The program lets creators monetize and give merchants a new sales channel.
Home and auto insurance marketplace YouSet raises $2.1 million, launches in Ontario
The Montréal startup plants its feet in Ontario in preparation for a nationwide launch.
Interaxon secures $9.5 million USD to roll out subscription model for brain sensing headband, Muse
The subscription program is set to launch in Q1 next year.
R|T: The Retail Times – Lightspeed posts gains, Shopify invests
Plus: D2C startups not immune to downturn as Article, Mejuri make staff cuts.
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.