Ada becomes latest Canadian unicorn to cut staff, laying off 16 per cent of work force [Globe and Mail, The (Toronto, Canada)]
Shopify Inc. Class A Subordinate Voting Shares (SHOP)
Last shopify inc. class a subordinate voting shares earnings: 2/12 07:00 am
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Source: Globe and Mail, The
Ada Support Inc., a Toronto-based artificial-intelligence startup that has become a leading customer service “chatbot” provider for big Silicon Valley brands, laid off close to 16 per cent of its 500-plus staff, or 78 people, chief executive and co-founder Mike Murchison announced Tuesday on LinkedIn. Mr. Murchison said in a memo to staff, shared online, that Ada had taken the decision because of “macroeconomic conditions in the tech industry” that have put pressure on “digital-first brands who often rely on outside capital to fund their operations” and are now cutting budgets. As a result, they are not buying Ada's offerings at the pace the company had forecast, he stated. Such companies represent about half of Ada's business, while the other half comes from more established corporate, or “enterprise,” customers that the company is increasingly focused on winning. Mr. Murchison echoed recent comments from other high-flying digital entrepreneurs, including Shopify Inc. SHOP-T
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SHOP
News
- How will the changes to capital gains in Canada affect tech sector? [MoneySense]MoneySense
- Why the Market Dipped But Shopify (SHOP) Gained Today [Yahoo! Finance]Yahoo! Finance
- Tech industry warns capital gains proposals could cause ‘irreparable harm’ [Investment Executive - News]Investment Executive - News
- Shopify Inc. (NYSE: SHOP) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Canadian Businesses Say Tax Hike Risks Deeper Productivity Slump [Financial Post (Toronto, Ontario, Canada)]Financial Post
SHOP
Earnings
- 2/13/24 - Beat
SHOP
Sec Filings
- 3/22/24 - Form 144
- 3/22/24 - Form 144
- 3/22/24 - Form 144
- SHOP's page on the SEC website