Also: Lightspeed and Nuvei Increase Earnings, Watch Share Prices Fall
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
Twitter’s mass evacuation has reached the Canadian office
Twitter Canada’s managing director and director of public policy are among Canadian employees let go in Canada’s mass layoffs.
BDC spent $400 million on a second cleanup-focused fund.
“Our investment strategy is not the market trend, but the reduction of GHG emissions,” said Jerome Neese, BDC Capital.
Dapper Labs will lay off 22 percent of its workforce.
The 22 percent reduction represents approximately 134 people, according to Dapper Labs’ LinkedIn profile.
TalkBistro has raised $150 million to scale up the market and pursue strategic M&A amid further economic uncertainty.
TouchBistro Chairman and CEO Samir Zabaneh said that COVID-19 has tested TouchBistro and its customers, forcing the former to come up with new solutions to serve restaurants. “Yes, we’ve lost revenue and we have customers that are constantly closing and it’s sad to see,” Zabaneh told BetaKit in an interview.
Market Hours: Lightspeed, Nuvei Increase Earnings But Reports Lead To Volatility In Shares
Lightspeed and Nuvi’s earnings increases seem to have disappointed investors eager for good news.
How Canada can get a bigger piece of the trillion dollar global semiconductor market
Hardware is cool again. And it’s an opportunity Canada can’t afford.
How novice CFOs can prepare for the rapidly changing role expectations
With global turbulence as a driver, the role of the CFO in a tech-enabled business has now fundamentally changed.
Q3 Canadian Tech Venture Funding Reports:
2022 surpassed the previous three years of Alberta Venture funding.
As deal volume falls to three-year lows, investor sentiment shifts from FOMO to frustration.
Primary agreements were nowhere to be found. So what comes next?
In an uncertain climate, investors prefer to maintain existing crops rather than plant new ones.
The headwinds sent Quebec’s tech sector into its lowest investment quarter in three years.
Recent funding, acquisitions and layoffs
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VIC – Audette – $12.8m (read more)
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Van – Hootsuite lays off 5 percent of employees (read more)
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VAN – Blossom Social – $750K (read more)
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TOR – Kensington Capital Partners Takes $72.5M VCCI Commitment (read more)
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TOR – 1 password found (read more)
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TOR – On Call Health by Qualifacts (read more)
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OTT – Shopify Gets Remix (read more)
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OTT – Nook Technologies – $2.39M (read more)
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GAT – Connecticut – $2.7M (read more)
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MTL – Google opens new Montreal office, commits $2.75M (read more)
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QUE – Voila – $13.75M (read more)
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.
It’s to watch Alexis Gay, who can have fun while quietly leaving your tech job
“One of the funniest things about technology is its complete and utter ignorance.”
Comedian and podcaster Alexis Gay joins us to share her transition from working in tech to creating content that accurately describes the ins and outs of working in tech.
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