Also: 1Password prepares to battle tech giants in the passwordless future.
Welcome to BetaKit Startup Stories of the Week! Here, you’ll find the week’s most important news, features and editorials published on Beta Kit. If you prefer this update to have it hit your inbox every week, be sure to sign up for the BetaKit newsletter using the form at the bottom of this page.
The main news of the week
Less than a year after major expansion plans, Meta’s wholesale cuts hit Canada
The layoffs come eight months after Meta promised to hire up to 2,500 people across Canada.
The failure of FTX may have implications not only for Ontario teachers, but for many Canadian organizations
FTX’s rapid decline has been felt around the world, Canadian firms are not immune to the fallout.
With Password Access, 1Password prepares to fight the tech giants in a passwordless future.
Time for 1Password acquisitions, an exec overhaul, and a new tech markup. CEO Jeff Shiner seems ready.
Hopper closed $96 million from Capital 1 at a valuation of more than $5 billion.
Hopper President Dakota Smith said the company plans to invest in Hopper Cloud, social commerce and global market expansion.
Fintech investor Holt Exchange launches fund in Web3, sports media, entertainment hub
With the newly announced fund, Holt Exchange plans to invest in seed and series A rounds in Web3 startups that are using digital collectibles, blockchain technology, smart contracts and NFTs to disrupt business models in the sports media and entertainment industries.
Q4 Inc. CEO Profitability to Continue in 2023 Despite Slow Growth.
M&A, listings, cooling IPO market impacted Q4 Inc’s customer retention, expansion.
Luis Tetu explains how Covio is buying into technology trends ahead of the SAAS North keynote.
Ahead of BetaKit’s keynote session at the SaaS North, we sat down with Têtu to discuss why Coveo keeps up with tech trends, and teased some of the CEO’s predictions for Ottawa next week.
How Poseidon’s Ocean Systems Changed Globally as Local Opportunities Dried Up
Speaking with BetaKit, Clarke explains the journey of Poseidon, how she stumbled upon her biggest opportunity, and how she navigated the process of commercializing two products globally.
Recent funding, acquisitions and layoffs
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In this exclusive, on-demand webinar, Brent Lowe, Scale Up Coach and Lead Coach at BASE Associates, discusses the 5 Cs of Designing Your Future as a Scale Business Leader.
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Waverly and the broken internet
If any AI startup comes to you and says, ‘We’ve figured out how to evaluate reality,’ you should be reasonably skeptical. I don’t think we’re going to be close to that.”
Former Googler and former Element AI co-founder Philippe Beaudoin joins forces to explain why the Internet is broken and hopes to fix it by starting his new company, Waverly. We hold the legs to the fire.
Making future bets on the market, rich easy and Metaverse
“If Canadian VCs weren’t allowed to speak to reporters anonymously, they wouldn’t say anything.”
The monthly AMA episode of the BetaKit podcast answers questions from listeners about what the future holds for Shopify, Wealthsimple, venture capital and technology in the 2020s.
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