S|W: The SaaS Weekly – The end of an era at Slack

socks

The SaaS Weekly is a weekly newsletter covering major SaaS news from Canada and around the globe.

Subscribe to S|W using the form at the bottom of this page to ensure you don’t miss out on the most important SaaS news every week!


Slack founding CEO Stewart Butterfield to depart company in January (BETAKIT)

Lidiane Jones, currently executive vice president and and general manager of digital experiences clouds at Salesforce, made a statement on Twitter on Monday noting that she will take over for Butterfield as CEO of Slack.


Tensions grew at salesforce between co-CEOs Benioff and Taylor ahead of leadership change (THE WALL STREET JOURNAL)

Tensions had been growing between Salesforce Inc.’s co-Chief Executives Marc Benioff and Bret Taylor over their responsibilities and how the business was run for months before the business-software provider said last week that Mr. Taylor would exit the role, people familiar with the executives said.

Mr. Benioff, who is also co-founder, became frustrated about how Mr. Taylor was spending his time, the people said. Among his concerns were whether Mr. Taylor was spending too much time in a new role as Twitter Inc.’s chairman, too much time


Wattpad president Jeanne Lam resigns months after being tapped to lead company (BETAKIT)

Lam resigns seven months after she was tapped to lead Wattpad. She took the reins of the company in May, following Wattpad founding CEO Allen Lau’s decision to step aside and become its executive advisor.


POWERED BY: OKGN ANGEL SUMMIT
Join Accelerate Okanagan for an Elevated Investment Experience

Companies located in Western Canada are invited to apply for the 5th annual OKGN Angel Summit.

This 10-week program is designed to train entrepreneurs and newly accredited angel investors on the capital-raising process through active participation. It all culminates in a public finale on March 16, 2023 where one company will be awarded the fund of up to $250K.

Applications close December 16, 2022.

Get ready. Get invested.


Microsoft eyes ‘super app’ to break Apple and Google’s hold on mobile search (THE INFORMATION)

Microsoft recently considered building a “super app” that could combine shopping, messaging, web search, news feeds and other services in a one-stop smartphone app, in what would be an ambitious move by the software giant to expand further into consumer services, according to people with direct knowledge of the discussions.

Microsoft executives wanted the app to boost the company’s multibillion-dollar advertising business and Bing search, as well as draw more users to Teams messaging and other mobile services.


FigBytes secures $14.5 million USD in venture funding and debt (BETAKIT)

FigBytes co-founder and CEO Ted Dhillon believes ESG needs to be addressed holistically. “Carbon emissions, water consumption, supply chain impacts, it’s all part of the same big picture,” he said. According to the company, FigBytes’ software created helps clients see the big picture in a way they can share with stakeholders.


Thoma Bravo raises $32.4 billion for three tech-focused funds (BNN BLOOMBERG)

The Chicago-based company’s latest fundraising was 42% higher than its previous efforts, which closed with $22.8 billion in 2020, according to Jennifer James, the firm’s chief operating officer and head of investor relations.


Private wireless network startup Expeto closes $12 million Series B supported by Samsung Next, 5G Open Innovation Lab (BETAKIT)

The startup, which helps large enterprises extend private networks across virtually any type of cellular connectivity, plans to invest this capital in product development and expand its go-to-market programs.


Edtech firm Vedantu cuts 385 jobs in fourth round of layoffs this year (ECONOMIC TIMES)

The company had previously laid off 100-full time employees from its sales team in July and another 624 full-time and contractual employees in two batches in May.


Top Hat acquires STEM EdTech startup Aktiv Learning (BETAKIT)

Top Hat said that the acquisition gives it expertise in a discipline-specific solution, which customers have asked for, and “significantly increases” its reach in higher education given Aktiv has been used at over 700 institutions.


Security compliance and automation platform Drata nabs $200M at $2B valuation (TECHCRUNCH)

The raise comes just a year after the San Diego-based company hit unicorn status off the back of a $100 million Series B funding round, while in the intervening months rivals in the space, including Secureframe and Laika, have each raised $50 million-plus, while Vanta secured $150 million across two tranches this year at a valuation north of $1.6 billion.


Goloot announces $4 million to improve online advertising for D2C merchants (BETAKIT)

Goloot’s tech allows online media publishers to reward user engagement with personalized offers that can be claimed in a single click. The Montréal startup aims to enhance rather than interrupt the user experience, blending in with publishers’ existing websites.


Twin complaints signal new FTC strategy to rein in tech industry (THE WASHINGTON POST)

The Federal Trade Commission on Thursday took its most aggressive actions since Lina Khan became chair to rein in the power of Big Tech, pursuing a lawsuit to block Microsoft’s acquisition of a game developer on the same day it opened arguments in another case against Meta’s purchase of a virtual reality start-up.


Led by former Ada employees, Lancey secures $2 million to let B2B software buyers “try before you buy” (BETAKIT)

Adi Patel and his twin brother Abhi—a pair of former Ada employees—have set out to “disrupt the status quo” in B2B software sales with Toronto-based startup Lancey.

By permitting prospective customers to “try before you buy,” Lancey aims to help the B2B software-selling companies it caters to increase their sales velocity and ensure more targeted leads.


Airtable, last valued at $11 billion for its no-code software, lays off over 250 (TECHCRUNCH)

Now, Airtable’s employees are facing the same feeling. Last valued at $11 billion, the no-code leader has conducted a round of layoffs today that impact around 254 employees across business development, engineering and other teams. The company spokesperson says that Airtable is continuing to hire for “strategically important” roles, and that 20% of the staff was impacted today.


Subscribe to S|W: The SaaS Weekly Newsletter

* indicates required




The post S|W: The SaaS Weekly – The end of an era at Slack first appeared on BetaKit.

Leave a Reply

Your email address will not be published. Required fields are marked *