And then Lightspeed poached Murphy from Northzone. And they haven’t just been looking for startups - they’ve also been looking for people.įirst, Sequoia snatched Luciana Lixandru from Accel to head up its London office. That’s one of the reasons we won that deal.” Hiring that teamĪmerican VCs have been on a shopping spree in Europe these past few years. Case in point: “We signed a deal last week which was very competitive - most European funds were competing on it and a handful of US funds too - but we’d started speaking to them in September, before they were thinking about raising money. When new retailers open or existing retailers move to these new systems from their legacy systems, they’re going to see that Lightspeed’s offering is from the back end with suppliers and operations, and then the front end with marketing and getting traffic.If Murphy’s lucky, that means he’s already got to know a promising founder before they look to raise. “The re-openings are going to mean a totally different way to look at business for retailers. “This has been a transformational year for retail, and it’s accelerated our customers’ use of digital tools,” he said. He says that the pandemic accelerated omnichannel adoption by three to five years. After blockbuster earnings, Shopify plots its next big moveĭasilva said that, as the pandemic eases and businesses welcome customers back, small businesses will need to integrate their in-store experience with online.Meet a rising Canadian corporate champion that’s showing other companies how it’s done.Canada risks relegation to the second tier of the global tech economy if it doesn’t act now.Article content Recommended from Editorial This advertisement has not loaded yet, but your article continues below. for about US$350-million in cash and stock. In March, it purchased New Zealand retail-management software maker Vend Ltd. which offers similar services - for US$440 million. for US$430 million, and New York’s ShopKeep Inc. In December, Lightspeed purchased Rhode Island-based internet-based restaurant management software maker Upserve Inc. It has also taken steps to broaden its services from its roots as a point-of-sales service provider and the company has been on a global acquisition spree. It went public in Canada in 2019 before debuting on the New York Stock Exchange in September. “We think that this is a reason to buy Lightspeed, and a reason to be on the platform that’s considering all the angles of what a modern retail business will want to be.” “The local ad piece is free because we want our platform to be the default for these sophisticated retailers,” Dasilva said. Google’s services will be integrated into Lightspeed’s supplier network, which it launched in January to help small retailers and independent suppliers restock their inventory. A diving equipment retailer and scuba school in the Netherlands posted local ads through the program and saw their online traffic increase 24 per cent in the first month, in-store visitors rose by 48 per cent, and the average revenue by transaction jump 50 per cent, he said. Google has seen searches for local businesses spike 80 per cent year-over-year, and inquiries on product inventory at nearby small merchants - “who has gym equipment in stock,” for example - have surged by 8,000 per cent, the company said.ĭasilva said that the partnership has been in development for two years as they ran a pilot project to test the offering with small businesses on Lightspeed’s platform. “When you put those three things together, you put the independent retailer on a much more equal footing than much larger stores and brands, and it gives them a real ability to compete with Amazon,” said founder and chief executive Dax Dasilva in a phone interview.
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