Plus: SkipTheDishes is reducing its staff.
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SkipTheDishes lays off 350 staff following global workforce review by parent company Just Eat (BETAKIT)
“Following a comprehensive review of its Global Logistics workforce, Just Eat Takeaway has made changes to the global organization to better prepare the business and its partners for sustainable growth. This includes reducing the size of its logistics team in Canada which supports multiple global markets across the business,” a Just Eat Takeaway spokesperson said.
Caught on tape: Amazon executive threatened to shut down Marketplace in Canada if competition reforms go ahead (THE LOGIC)
A recording obtained by The Logic describes Amazon’s vigorous behind-the-scenes campaign to prevent changes to Canada’s Competition Act. Meanwhile, California is suing Amazon, accusing it of inflating prices and crushing competition.
Shopify is rolling out a new employee compensation system to recruit and retain talent amid falling inventory (BETAKIT)
The Ottawa-based e-commerce giant has been revamping its approach to compensation since the start of the year. The move comes as Shopify has seen its stock price drop sharply from its pandemic high amid the broader tech sell-off and the return of brick-and-mortar retail. Previously, the amount of cash and capital each Shopify employee received was predetermined. But as the company’s stock price fell, so did the value of that capital.
Shopify and Amazon’s Cold War Heats Up (11:FS)
BetaKit Editor-in-Chief Douglas Soltys joins 11:FS’ Fintech Insider podcast to discuss Shopify and Amazon’s ongoing e-commerce cold war, which recently heated up over their payment services competitors, and whether Shopify merchants should use Amazon’s “Buy”. with the Prime offer.
Indigenous venture capital firm Raven Capital targets US market as it secures $46 million for second fund (BETAKIT)
“It’s a really tough environment to raise [in]and a lot of investors are slowing down right now across the board,” Paul Lacerte, managing partner at Raven Capital, told BetaKit in an interview.
“What we found is kind of a unique value proposition [as the] first to market, and a fairly untapped desire on the part of investors to find ways to deploy capital into the Indigenous space, both in Canada and the United States.
How to Blow Up $85 Million in 11 Months: The Airlift Crash Story (REST OF WORLD)
15 former employees reveal how mismanagement and inefficiencies brought down Pakistan’s first potential unicorn.
Startup Program: How Dal Innovates Embraced Innovation Education in Atlantic Canada (BETAKIT)
Dalhousie (“Dal”) University in Halifax, through its award-winning Dal Innovates program, strives to provide this education with several programs that encourage and support scholars considering or joining the innovation economy. .
Rent the track to reduce labor as more customers suspend subscriptions (THE WALL STREET JOURNAL)
Rent the Runway Inc. said it will cut its workforce by 24%, mostly through layoffs, as the fashion rental service adjusts to a slowdown in consumer spending and shifts in shopping habits. purchase adopted earlier in the pandemic.
The New York company did not specify on Monday the total number of jobs affected. It had 958 full-time employees and 138 part-time employees as of Jan. 31, according to securities filings.
Shopify trades CFO and COO amid financial downturn (BETAKIT)
Amy Shapero, the company’s chief financial officer for five years, will step down following the announcement of Shopify’s third quarter 2022 results on October 27. Jeff Hoffmeister will take over as Chief Financial Officer. Hoffmeister will join Shopify from Morgan Stanley, where he spent more than two decades in its technology investment banking group.
Additionally, the company announced that Kaz Nejatian, Vice President of Product, will succeed Toby Shannan as Chief Operating Officer, effective immediately.
On eBay, Lurid Crimes and the Search for Punishment (THE NEW YORK TIMES)
“If you ever have to take him down.. now is the time.”
Devin Wenig, the chief executive of e-commerce company eBay, sent these words to an MP on a summer afternoon three years ago. He was upset about a story he had just read.
Indoor farming startup Gotham Greens raises $310 million (CRUNCHBASE NEWS)
According to Gotham Greens, using hydroponics in their greenhouses allows them to use 97% less land compared to agriculture.
“With the increase in climate-related and supply chain issues facing our food system, it is more important than ever to deliver innovative agricultural solutions that grow high-quality produce while using fewer resources. natural resources,” co-founder and CEO Viraj Puri said in a statement. .
Jombone Closes $3.3M To Modernize Blue Collar Staffing Industry (BETAKIT)
According to Jombone co-founder and CEO Sumit Sahdev, the sector has been operating “outdated” for decades, relying on inefficient, costly and highly manual processes to find, hire, manage and pay workers.
“There hasn’t been any innovation in this industry for a very, very long time,” Sumit Sahdev told BetaKit in an interview.
Walmart introduces virtual try-on technology that uses customers’ own photos to model clothes (TECHCRUNCH)
The virtual try-on technology grew out of Walmart’s 2021 acquisition of startup Zeekit. The computer vision and neural network function is able to analyze clothing catalog images to create a dressed image. The use of neural networks helps to determine the different variations of a product, including size, color and other factors, such as the drape of the fabric or the length of the sleeves, for example.
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