Plus: Wayfair and Apple make more layoffs, Zellers is resurrected.
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Brüush Oral Care closes Nasdaq IPO with $15.5 million (BETAKIT)
Brüush began trading on the Nasdaq Capital Market under the ticker ‘BRSH’ on August 3. The company filed to go public with a $17.25 million IPO in the beginning of July. Upon closing of the IPO, Brüush missed its initial IPO target by $1.75 million.
Gorgias’ valuation rises to $710M with $30M Series C for e-commerce customer support (TECHCRUNCH)
Transpose Platform and Shopify led the round and were joined by previous investors Jason Lemkin of SaaStr, Rajeev Dham from Sapphire Ventures, CRV and Alven.
Shopify launches ‘Collabs’ to directly connect creators with merchants (BETAKIT)
Shopify claims that the creator economy can present a new sales channel for its merchants to reach new consumers and tap into the $104.2 billion market that continues to steadily increase.
Apple Lays Off Recruiters as Part of Its Slowdown in Hiring (BNN BLOOMBERG)
About 100 contract workers were let go in a rare move for the world’s most valuable company, said the people, who asked not to be identified because the situation is private. The recruiters were responsible for hiring new employees for Apple, and the cuts underscore that a slowdown is underway at the company.
Venture investment returning to pre-pandemic levels, shows Q2 2022 CVCA report (BETAKIT)
The economic downturn is leading to investment themes that bear resemblance to early 2020, when investors were cautiously deploying capital and concentrating on their existing portfolio companies.
Wayfair is laying off 5% of its employees. Analysts explain why the furniture retailer has been hit harder than most as the pandemic recedes (INSIDER)
On Friday, Wayfair said it would lay off about 870 employees, or about 5% of its global workforce, in an effort to cut expenses. The announcement came three months after Wayfair froze hiring.
How startups can survive a market downturn (BETAKIT)
Katy Yam, partner at Real Ventures and GM of Founder Fuel, Peter Fishman, co-founder and CEO of Mozart Data, and Ethan Ruby, partner of analytics at Craft Ventures all spoke about how the right data can help startup leaders make survival decisions in a downturn.
Guesty books $170M to double down on property management tools for Airbnb and other rental platforms (TECHCRUNCH)
“With the ways people live, work, socialize and travel having shifted, the lines between traditional hotels and rental accommodations continue to blur,” co-founder and CEO Amiad Soto said in an interview.
“Hospitality operators — everyone from hosts to property managers to hotel brands — are continuing to adapt to this new reality. The last few years brought new customer personas to the short-term rental market, including classic hotel-goers who have higher demands for guest experiences and services.”
Adam Neumann Gets a New Backer (THE NEW YORK TIMES)
Adam Neumann, the founder of WeWork, whose spectacular rise and fall has been chronicled in books, documentaries and a scripted television series, has a new venture — and a surprising backer.
Andreessen Horowitz is investing about $350 million in Flow, according to three people briefed on the deal. The investment, the largest individual check Andreessen Horowitz has ever written in a round of funding to a company, values Flow at more than $1 billion before it even officially opens its doors.
DoorDash is ending its partnership with Walmart next month after more than 4 years of delivering products to the retail giant’s customers (INSIDER)
One person close to the situation who requested anonymity because the matter is confidential said DoorDash decided to stop working with the retail giant “as it was no longer mutually beneficial” and to “focus on its long-term customer relationships.” Their identity is known to Insider.
Interaxon secures $9.5 million USD to roll out subscription model for brain sensing headband, Muse (BETAKIT)
According to Interaxon, it saw strong market interest for the round and has opened an allotment for additional investment with a second close planned by the end of the third quarter.
She bought a house on a fledgling auction site. Now she faces over $100K in repairs (CBC)
Jennifer Mealing said attempts to get Unreserved — an Ottawa-based tech startup that bills itself as a disruptor in Ontario’s real estate industry — to take partial responsibility for not disclosing a litany of major faults in her new home and to pay for the unexpected repairs had until recently fallen on deaf ears.
Home and auto insurance marketplace YouSet raises $2.1 million, launches in Ontario (BETAKIT)
“We believe that this investment from individuals with such tremendous industry experience is an acknowledgement that our vision is the right one.” Said Xavier Freeman, YouSet co-founder CEO.
Hudson’s Bay to resurrect discount retail chain Zellers (CBC)
Hudson’s Bay Co. says Zellers will debut a new e-commerce website and expand its brick-and-mortar footprint within select Hudson’s Bay department stores across the country in early 2023. The company says the relaunched Zellers will offer “a digital-first shopping journey that taps into the nostalgia of the brand.”
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