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Survival of the unicorns: As the economy skidded, so did startups. Now they need new ideas, and fast
Before COVID-19 disrupted the daily habits of people around the world, Ritual Technologies Inc. was one of Canada’s fastest-growing technology startups. It built a business on making the regular morning caffeine run and on-the-go lunch more efficient, offering a mobile app that allows restaurant and café customers to order and pay ahead for quicker take-out. Story
Unclear details driving landlords away from small-business rent relief program
Small businesses across Canada are being hit by eviction warnings and default notices as both they and their landlords say Ottawa’s small-business rent relief program is so flawed and unclear that many property owners have no plans to apply. Story
ApplyBoard, fast-growing tech platform for school recruitment, gets ‘unicorn’ valuation
The school-application company ApplyBoard Inc. is now valued at $2-billion, closing its second round of venture financing in less than a year as it hires by the hundreds even in the midst of the pandemic. Story
Shopify tops forecasts as pandemic pushes more shoppers online
Shopify Inc. posted stronger-than-expected first quarter results Wednesday, joining other e-commerce companies that have experienced a similar lift as shoppers shifted more of their buying to the internet in the early weeks of the pandemic. Story
OMERS Ventures invests in Ottawa work-from-home technology startup Tehama
One of Canada’s most heavily financed artificial intelligence startups, Element AI Inc., has hired its first chief financial officer and chief revenue officer as part of a restructuring effort that has also seen it lay off 15 per cent of staff. Story
Sarah Efron