Dominic Bortolussi shared a link to the group: StartupNorth.
Having launched in Nov 2016, and hitting breakeven in April, Logojoy has now raised 900K to fuel more revenue growth and accelerate new product development. We put together a good cast of local investors, as well as some key founder/operators from the US. Congratulations to Dawson, Rares and the Logojoy team. I'm excited to see what the next year holds in store. ... See MoreSee Less
Chris HamoenCongrats - great to hear about new companies on startup north.
1 day ago · 1
Mark MacLeodPleased to be a small part of this round. Logojoy addresses a huge need in the micro/ VSMB segment. More and more people are choosing to work for themselves and start businesses. Logo joy caters to this massive market segment
Varun MathurThis is why SN should allow local startups/entrepreneurs to promote their announcements/products here -- only good can come out of it. Back in Nov 2016 --- it was absolutely delightful to discover Logojoy and great to see this momentum now.
To all the GTA/Waterloo-based founders in the group: Toronto Life is researching for a story on Toronto/GTA/Kitchener-Waterloo tech scene and have a few questions. Shouldn't take too long and could be great coverage for your company if your input is used in the story!
We’re excited to announce the launch of Wattpad Labs, an innovation lab for emerging products involving a 3-month paid residency at Wattpad HQ in Toronto. Wattpad Labs offers people outside of the company, who are just as passionate about entertainment as we are, a chance to work with us to
Canada’s leading digital investing service is crossing the pond. Wealthsimple is expanding its digital investing service to the United Kingdom. A beta version of Wealthsimple's investing service will be launching this summer, followed by a public launch in September....
The Trump administration plans to delay and ultimately scrap a rule that would allow some foreign entrepreneurs to stay in the U.S. and build their companies, according to an administration official citing a final draft of a Federal Register notice. The International Entrepreneur Rule, the closest t...
Vasant KumarIt's something that we should do in general, not because the US isn't.
That said, we also need to foster more funding and mentorship opportunities to get our tech community onto the same playing field so that Canada is more attractive.
Seeing a lot of people applaud this decision, but there is a Canadian angle to this. Canadian co-founder Garrett Camp said that what got Uber where it is today is neglecting culture in favour of growth.
I know that encouraging diversity and inclusion is an important conversation for this community. Do you think this is a turning point for the argument that aggressively growing your company, at the expense of positive culture, is sustainable in the long-term? ... See MoreSee Less
Raad SerajI don't think its a turning point. But it definitely is a vital lesson. Aggressive customer acquisition and growth is still perceived as the holy mantle on which many valuations are based. Unless investors include callous management and lack of basic civic sensibilities in their risk profile and instead opt to see culture and product are inextricably linked, I don't much will change. But the conversation has definitely started.
3 days ago · 5
Kareem SabriI was pretty surprised, but not shocked. I don't know if it's a turning point, seems like movement along the same line, but it's big movement. I wonder if the culture, or the public scandals, are what led to the implosion. If Uber had an equally troubled culture but it wasn't so public, would the same outcome have been reached?
3 days ago · 4
SO L ONIt's easy to comment or judge, but Uber is fastest growing business backed by VCs ever. I don't think any leadership team has a record of doing this at this scale. Let's praise them for raising our ambitions, and wish them all the best to create a better company. As for the founder, I am pretty sure this is taking a heavy personal toll...
Denise SpiessensAs a senior crafter, you will not find me working at a company that doesn't treat their team with the utmost respect. I'm not sure how CEO's expect to build products without talented workers. Any self-respecting crafter can do better. I'm shocked it's even a debate.
Genia Miinkonothing to applaud here. sure, Uber has a laundry list of problems to deal with and is ruthless both in culture and in business, but pushing out the captain of the ship likely wont satisfy their organizational goals as well as business goals in the long term. There's a reason why founder led companies far outperform everyone else in the long term.
good reference piece.
3 days ago · 2
James MartindaleChildren exhibit the behaviour taught by their parents. The classic Monkey see Monkey do. It's the same in corporations where behaviour through out is modelled on the attributes displayed by the executive team. Uber's success was built on riding rough shot over local legislation whilst pumping money into PR and legal battles. Their culture is understandably maverick as is the way it appears they have run the business. It will be interesting to see if they are able to restore ethics to their business model.
Bonnie Foley-WongTravis Kalanick reminds me of some of the investment bankers I used to work with in London. Aspects of the toxic culture, mindset, and ego-driven pursuits in the tech ecosystem remind me of the investment banking industry. So on the one hand, I don't think things are much different. On the other hand, I'm in a far better position now than 10 years ago do something about it.
Nick RaynerI think you're reaching when you just assume it was about diversity, and that you're linking diversity to sustainability. It sounds like his comments were all about processes and treating drivers better (they've been taken to court repeatedly for this, in different countries.)
Daneal CharneyCall to action - consider the immediate and downstream cost of jerks to your business. Deal with subtle jerk behaviours and not so subtle! Immediate business costs - regrettable turnover, dip in productivity, sick days, medical leave, health costs, packages & legal costs, etc. Immediate costs are 2X of salary for one toxic employee & in the millions for execs and founders (based on surveying about 100 GTA tech leaders). Downstream costs - reputational damage which leads to failed offers, more internal pressure & churn, poor morale, leadership vacuums, lost business etc. makes the real costs much higher! beta.theglobeandmail.com/report-on-business/small-business/talent/tech-companies-need-to-stand-up...
Sina S. AmiriIf Uber wasn't losing billions of dollars a year, the outcome here would have been different for Travis. Steve Jobs got fired from Apple at a time when the Mac wasn't selling and critics ridiculed its small computing power. The Uber decision is simply about ensuring investors can cash out on their planned exit strategy. You can't take a $70 billion business with all these issues to the public market without demonstrating some serious commitment to turn over a new leaf. The average retail investor will end up owning their stock not realizing it's the same pig with a different shade of lipstick. It's extremely hard to change the corporate culture of a large organization especially one that doesn't make a profit.
2 days ago
Steve BendasI think in the future its going to be a requirement to have legit 3rd party leadership auditing in order to get funding.
There are many people in the position of people management, but few who can pull it off, due to the Peter Principle (promote people until they fail at their job). And the fact that a prototype gets the investors, not people skills, emboldens a lack of people management skill. Further, every one of the early employees becomes a people manager instantly (without merit or validation), and you have a recipe for disaster.
What needs to change is that people who establish culture and perform people management should be hired from the outside(if founders or early employees have no experience), and have years experience along with a sizeable reference list of everyone they managed in the past that you can speak with. Before you invest.
Startups are the antithesis to the concept of vetting for people skills, and promote the founders and their friends to people management roles right away.
And this is more common than we think.
It's not to say they don't have poor people managers at places like Google, but you're less likely to find this much of a garbage fire when they espouse psychological safety and had people like Lazlo Bock.
2 days ago
Bohdan Zabawskyj'the ends justified the means' is a poor argument in the end. #karma
2 days ago · 2
Jennifer MossThe argument that rapid growth is the reason for a culture of sexism is complete bullshit. A culture begins as the seed of an organization's emotional and intellectual value system. What happened was, the core of Uber's culture just scaled along with the business growth and became too difficult to cover up as it spread.
Craig HunterOk, I'll bite. 🎣 Former Uber employee here - haven't been there in 3 years and, full disclosure, I'm a shareholder.
I personally think the good, the bad, and the ugly should all get airtime. Unfortunately, media doesn't seem to work that way (and of course I understand the many reasons why).
Breanna, I don't know a single employee (past or present) who wasn't shocked and appalled by Susan's experience. Not one. Completely furious and utterly gutted to hear that could happen. But I also don't think that sharing a differing personal perspective in light of some mind bending changes over the past few months discounts any of the downright horrible things that have happened. It's understandably frustrating to be painted with broad strokes - there are thousands and thousands of people (across hundreds of cities) heads down working to make their company (and the world) a much better place. They are amongst the most principled and thoughtful people I've ever worked with professionally. I think anyone expecting a quick fix bandaid turnaround after any of these major issues is dreaming - this will be a thoughtful rebuild and employees perspectives internally is to focus on change, on each other, and on the business. It's not something that lines up with todays news cycles, it's on the gritty, painful, long term process to radically change the culture while running the business.
The one thing that I think I might be able to highlight that I don't see discussed in the media is one I lived being based in multiple Canadian cities and focused on the Canadian business. Uber is quite possibly the most geographically distributed 'startup' in history. Of 14,0000-15,000 employees, 85-90% of them don't work in San Francisco. They also don't work in engineering - Uber is and always will be an operations first business. They work in Toronto, New York, London, Amsterdam, Singapore, and hundreds of other smaller offices in dozens of countries around the world. This has been the case since the beginning. My perspective is that issues in one department and/or one office, speaking from my experience, do not speak for the overwhelming majority of a large organization. Every city as a mini CEO, its own unique culture, and its own quirks by design. Despite that, everyone in these offices is angry, frustrated, and hungry to make the changes necessary.
Worth a read if you're interested in another perspective: www.facebook.com/amysun12/posts/3820910081267?pnref=story
Always happy to grab a coffee and chat more with anyone in the Canadian tech community. Please don't kill me with pitchforks. <3
Jim MossIMO - it'll get you the growth but then you'll have to throw away pretty much everything and rebuild a sustainable culture to attract and retain key talent. You may, like in this example, do irreparable damage along the way. Their next raise / valuation will be an interesting tell (if the truth of it is made publicly available).
Daniel MathewsI was part of that first batch. its more like MOOC. enjoyed most of the lectures (you can find them all on youtube). its people from Facebook, Quora, Twitch etc talking about their domain expertise. It was also good emotionally, they talk about how even yc companies want to pivot half way through the course and insecurities every founder faces.
4 days ago · 1
K Gustavo FreireThere are key variables to the formula missing: access to funding and attracting experienced deep pocket investors sans le deep rooted risk aversion.
4 days ago · 1
Sahil AroraGreat approach for YC to increase it's brand presence globally. They're helping entrepreneurs in parallel with screening great startups for their SV program.
3 days ago · 1
Richard RemillardSpot what's missing in this picture? 15 men,1 woman. So much for the hype.
With all of the really great things going on in Toronto, it is often overlooked that this city is one of the largest hubs for commerce technology. I have been asked to pull together a list of Toronto companies that provide tech to brands and retailers to help them sell more.
I have started the list below. I most likely left out a ton of good friends but, I haven't had coffee today, so please forgive me if I totally forgot.
- Founded/headquartered in the GTA - Brands and Retailers are the primary customer base. (There are many companies that CAN sell to Brands and Retailers but I am looking for companies that are focused solely on brands and retailers). - Technology companies. Not service companies or anyone who is actually a brand or retailer.
Please feel free to add some more in the comments. Thanks for the help.
Mudit Singh RawatThanks for mentioning us! I was telling a CPG brand manager last week how Toronto is suddenly becoming a super hub for commerce and more companies need to pay attention and track toronto companies in this space.