Canadian Startup News of the Week (12/11/22)

Plus: Meet BC’s new innovation minister.

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

Wattpad president Jean Lam resigned months after being elected to lead the company

Lam resigned seven months after being tapped to lead Wattpad. She took over the helm of the company in May following Wattpad founder Alan Lau’s decision to step aside to become an executive advisor.

Slack founder and CEO Stuart Butterfield to leave the company in January

Lydian Jones, currently executive vice president and general manager of digital experience clouds at Salesforce, announced on Twitter on Monday that she will take over for Butterfield as CEO of Slack. Butterfield’s resignation follows Salesforce executive departures.

Harvest Builders announced Graeme Harrison as its new president

Harrison succeeded Chris Simair, co-founder of Harvest Builders; Following Simair’s transition, the studio has been actively recruiting for the president since last spring, according to a spokesperson.

BC has appointed Brenda Bailey as the new Minister of Innovation

Premier David Eby announced a new cabinet of 23 ministers and four ministers of state last Wednesday, appointing Baillie as the state’s minister of jobs, economic development and innovation.

Recent funding, acquisitions and layoffs

Bessemer, Georgian, Omers VCS discuss the market situation

“If this is where we are today, what do we do?”

Aleza Hashmi (Bessemere), Michelle Yu (Georgia) and Laura Lenz (OMRS) join Beta Kit Editor-in-Chief Megan Simpson on why early 2023 will be so difficult to raise revenue. BetaKit keynote level recorded by SAAS North Live.

Identifying the anatomy of the Canadian tech race with two small fish, calico and waves

“Looking at some of the salaries we’re seeing, there were probably four engineers and our entire round was gone.”

Eva Lau (Two Little Fish), Sean Hewat (Wavy) and Kathleen Chan (Calico) discuss what it’s like to grow a seed in 2021 and what has changed in 2022 so founders are ready for 2023. BetaKit keynote level recorded live on SAAS NORTH.

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