Satish Kanwar

These entrepreneurs faced risk in their platform-dependent business. So they opted to sell their Shopify app: Canadian entrepreneurs Derek Morin and Bogdan Radu knew there was a risk to building apps for someone else’s platform. In 2016, they launched Tabarnapp to enable automatic discounting in Shopify. Their metrics by 2022: • Over $1 million in annual revenue • 80% net margin • 60,000 downloads of their flagship app, Automatic Discount • 2,500 recurring clients paying $10 to $1,000 monthly But they recognized the risk. “We realized that at any point, because we were platform-dependent, we could go bankrupt or we could be disrupted by Shopify,” Morin said. Changes to the platform — plus an increased competitive landscape — sparked the idea to sell the company. They sold Tabarnapp to software company Staytuned in November 2022 in a mid-7 figure deal. All the details in our story... https://lnkd.in/eUGEB9K5

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Spent a wonderful week in Canada with family! Now back to business.. Here's your weekly AI update: 🔙 𝐓𝐡𝐞 𝐁𝐚𝐜𝐤𝐰𝐚𝐫𝐝 𝐏𝐚𝐬𝐬: 𝐑𝐞𝐯𝐞𝐫𝐬𝐢𝐧𝐠 𝐓𝐡𝐫𝐨𝐮𝐠𝐡 𝐭𝐡𝐞 𝐀𝐈 𝐖𝐞𝐞𝐤 Week 51 | August 5 - August 11 The OpenAI Brain Drain Industry: 🚨OpenAI co-founder John Schulman leaves for Anthropic; President Greg Brockman is taking extended leave through the end of year. What's interesting is that three of their most technical co-founders (Ilya Sutskever, John Schulman, Andrej Karpathy) have all left the company now. This then begs the question - is this a result of natural silicon-valley attrition, or is there something deeper going on here? And moreover, how will this impact the technical moat that OpenAI has built over the years? (https://lnkd.in/gztRKhwV) 🚨Google announced that new Gemini AI-powered features will be incorporated in a variety of home devices, such as Google Home and Nest (https://lnkd.in/gV2QacAQ?). It also announced a significant reduction in token cost of Gemini 1.5 Flash (https://lnkd.in/gbNe6yNU?) 🚨Figure releases Figure 02, it's newest humanoid robot. Figure has been actively testing robots with BMW at a manufacturing plant. Figure last raised $675M Series B in February 2024, valuing the company at $2.6 billion. (https://lnkd.in/gZnPSke4) 🚨Mark Zuckerberg said on Meta's Q2 earning call that to train Llama 4, the company will need 10x more compute than what was needed to train Llama 3. (https://lnkd.in/g5pEPrTw?) 🚨Elon Musk filed a lawsuit against Sam Altman and Greg Brockman, renewing claims that the company is betraying its founding aims of benefiting the public good rather than pursuing profits. (https://lnkd.in/gAk5grU6) Financing and M&A: 🚨Groq raises $640m in Series D at a $2.8B valuation. The round was led by Blackrock Private Equity Partners with participation from other investors such as Neuberger Berman, Type One Ventures, Cisco, KDDI, and Samsung Catalyst Fund. (https://lnkd.in/gRtKQKvW?) 🚨Hugging Face acquires Seattle data storage startup Xethub. The HF team plans to integrate Xethub's backend storage technology, enabling developers to host more large models and datasets than currently possible. CEO Clem Delangue 🤗 confirmed this was the largest acquisition the company has made thus far. (https://lnkd.in/g8fJ-BjT) 🚨OpenAI is leading a $60m Series B funding round for Opal Camera, a maker of professional-grade webcams(https://lnkd.in/gMT9dkTG) 🚨ProRata.ai a company that has invented an attribution technology to properly compensate content owners, has raised a $25m Series A, led by Prime Movers Lab, Mayfield Fund and Revolution Ventures. (https://lnkd.in/gumjbWmj) R&D: 🚨Alibaba Group releases Qwen2-math, a SOTA model for math-specific tasks. (https://lnkd.in/g8Jh3M7T?) Other Interesting Resources: 🚨 Between May and August, more Humane AI Pins were returned than purchased (https://lnkd.in/gy56qpKm?). 😯

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Should I or shouldn’t I? Did I really want to admit my age to the whole LinkedIn world? But when one of Canada’s top broadcasters for the CBC – who now runs a Podcast called “The Art 2 Aging” – invites you to be interviewed, I had to say yes. So, aside from letting a few million people know that I am 69 years old, being interviewed by Chris Henry (who is a skilled and award-winning broadcaster) was an incredible gift. In this 30-minute Podcast session, we covered everything from: • how I overcame my fear of starting my own business and manifesting what I wanted • why spirituality is an important cornerstone of my life • how hiring for diversity across gender, age, experiences and skillset has made us a better agency • how to harness the power of GenAI for “good” • how Gina Livy changed my attitude toward food and my body and set me off on a path of wellness that I am happily following today I usually don’t like listening to myself being interviewed but, Chris, damn you’re good. Thank you for this experience. For those of you who listen to the podcast, let me know if anything stood out for you and what was YOUR greatest teacher in your career and life so far. The link to the Podcast is in the first comment. https://ow.ly/3MIP50TE5Ve #BusinessSuccess #Entrepreneurship #Resilience

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🚀 Just had an incredible experience meeting Keily Blair, CEO of OnlyFans in Toronto! Here's a mind-blowing stat: OnlyFans has paid out $15 billion to creators since 2016. Yes, billion with a B. 💸 The company takes 1/5th of the payments generated. With over 3 million content creators on the platform, it was fascinating to discuss the future direction of the business - which really has a ripple effect... OnlyFans has already shifted culture and how we think about creators. But their next big wave goes beyond content and culture—it’s about challenging traditional banking norms. With its massive financial footprint, OnlyFans is pretty well poised to reshape the financial landscape for lawful, profitable businesses often marginalized due to stigma. (👋 Shoutout to Sextech School founders, Women of SexTech, and other businesses that struggle to transact or even open business bank accounts.) Keily’s background as a partner at a law firm specializing in cyber, privacy, and security makes her the fit to take on the big banks. I love learning about how people found their ways into these sorts of spaces - for her, OF was a former client (and a fav client). I learned so much in our meeting. One last nugget that stood out: OFTV (their safe-for-work streamer) just licensed their first reality show to Netflix! At this point, the mainstream influence of OF, whether it's in entertainment or financial sector, is undeniably having a hand in what our future looks like.

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Cool read about portco Vivid Machines using AI to help farmers maximize yield, reduce costs, lower emissions, and make data-driven decisions that weren’t possible a generation ago!! 🍎 🍇 🍐 🥝 From real-time tracking of tree health to optimizing harvest timing, Vivid turns farming into a precise science – helping farmers make informed decisions that improve profitability and boost efficiency. It’s awesome to see Canadian agtech driving such significant economic impact. Proud to support Jenny Lemieux and Jonathan Binas in shaping a more productive and sustainable future for farming! 🌱🚀 https://lnkd.in/e4i2NgMW #AI #agriculture #startups #venturecapital

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Hopper cut 30-40% of its team in the last year to restructure around the success of its b2b products. So I took a quick look back at the history of the Canadian Fintech unicorn. And what I found is that Hopper is a pivoting machine. Here’s the story… In 2007 ex-Expedia Group employees launched Hopper, a travel content site. It was basically an aggregator of travel blogs. In 2014 Hopper published a piece on "the best time to book cheap flights". The article drove 100x more traffic than the previous four years combined. Based on that surge they decided to pivot. In 2015 Hopper got into travel booking and cut 50% of their team. They launched a consumer app that notified travelers of the best times to book their trips. In 2021 Hopper launched b2b “travel fintech” products like flight insurance, price freezing, and price drop guarantee that were embedded into third parties like Air Canada, Uber, KAYAK, & Capital One. Today, Hopper’s b2b business represents ⅔ of its revenue 🤯 Pivoting as a startup is expected. But pivoting while doing over $700m in revenue is remarkable. Love this story! -- Want more? Subscribe to the Canadian Fintech Newsletter in the comments below 👇

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Thanks to the Meta news ban, "Canadians are simply seeing less news online." More than a third of Canadians can access journalism through workarounds, but about a third of news operations have given up on social media altogether. When you think about the social commitment of news - helping people get truthful, verified information about the issues of the day, providing a forum for a civil exchange of views, helping diverse communities learn about themselves and one another - this is a tragedy for democracy. News organizations must rebuild their relationships with audiences and work together to show why news is valuable and worth seeking out, vs. relying on chance encounters. We must show what trustworthy news looks like and point to exemplary colleagues. Thanks for this important analysis, Sara Parker Aengus Bridgman Christopher Ross and Zeynep Pehlivan.

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It's been a while since I've posted here, so obviously this is important (slight tone of sarcasm - but really). At Ecom North this past weekend, Canada's first and biggest (1000+ attendees), I met a lot of amazing entrepreneurs, brand owners, and agency owners. A couple common mistakes really stood out to me with the younger/newer entrepreneurs that tend to shoot themselves in the foot: 1. Needing to fulfil every requirement under the sun before getting started. Real example: A very nice lady I was speaking to was getting into the CPG supplements space, she's been working on it for months, still doesn't have a product, already wants to rework her logo, and is way too concerned about all the liabilities and insurances she should have. All before validating her business and just putting an offer online, in front of a prospective market. When building a new business there are thousands of little invisible requirements that are frankly, just that. Invisible. All you really need to focus on first, is what you're selling, and who you're selling it to. You only run into all these little invisible "requirement roadblocks" when you go looking for them. 2. Not knowing, and not being able to admit it. I get my best advice from people who are the best in the world at what they do by simply presenting my constraints, what I've tried, and then admitting I need help or I don't know something or how to do something. A young entrepreneur who was also trying to build a supplement brand was speaking to me and aside from saying his supplements were organic and natural couldn't answer my questions of "who's your customer avatar? (who are you selling to", "What's your angle? (what story do you tell them)", and "What's your specific unique selling proposition (Why should they choose you?" His answers were a slurry of "healthier option" and "organic" and "natural ingredients" and many, many, "you know???"s. No man, I don't know. That's why I'm asking you. Please tell me, and if you don't know, let's find out together, but I can't help you if you don't ask for it. Lastly, in case you haven't heard yet, yep, I've built a supplement brand. I am my customer avatar, and I'm sure there are more high performers who need a healthy dose of mental enhancement and recovery so they can move the needle with their best work. The substances we've launched are the results of my 10+ years of testing every (healthy) substance known to man in attempts to overcome my ADHD distractibility and maintain high productivity without burning out. We worked with leading FDA compliment labs in the USA to create these. The only downside is that they're kinda pricey, and the capsules are a bit big, but boy do they work, and that's what I'm excited about, functional substances that actually work.

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Nobody launches Consumer brands because they're obsessed with building a tech stack. Most of the time, people launch Consumer brands because they have a passion for their space, or a story to tell. And luckily the Shopify ecosystem made it so that any artisan can sell anywhere, and any consumer can buy from any artisan. It's beautiful—and I want to make it even more accessible for shops. They won't have the same ad budgets as legacy brands, but we may be able to give them something else. See, I used to work at Turo. There, we had access to funding, tech, and software in ways I didn't realize were possible beforehand. As a result, we grew—fast. I saw first-hand what being so well-resourced like that did for our business, and now I want to do the same for artisans globally. That starts with data. I want to give the tech all the big players use, to everyone. It will level the playing field—at least with data—and make ecommerce a meritocracy, not a game of budgets. If we make data a commodity, ecommerce as a whole is better off. That's our mission with Polar Analytics, so follow along if that sounds interesting!

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Netalico Commerce is thrilled to announce the launch of Silverist on Shopify, live as of August 28, 2024! 🎉 Silverist celebrates the beauty of natural silver hair, offering top-quality products and community support for those embracing their silver strands. 🪞✨ Our collaboration with Evelyn Wang, Silverist’s founder, was grounded in her passion for empowerment and education, turning her vision into reality. Here’s what went into making this launch happen: • 🛠️ Phased Build: We started with a "coming soon" landing page, followed by an educational blog, and then the full eCommerce store launch. • 🏠 Homepage Design: Seamlessly blends product offerings with the mission, featuring the blog prominently as an educational hub. • 📄 Custom Product Detail Pages (PDPs): High-quality images, detailed ingredients, real customer reviews, and custom metafield badges (cruelty-free, silicone-free, etc.). • 💬 Our Story Page: Connects customers to Evelyn’s inspiring journey of embracing her silver hair and building the Silverist brand. • 🌱 Ingredients Glossary: Transparent and easy-to-navigate glossary of all ingredients used in Silverist products. • 🛒 Interactive Cart: Features a shipping bar, a "Pair It With" section to suggest complementary products, and boosts average order value. • 📧 Email Marketing Strategy: Pre-launch excitement, automated flows (Abandoned Cart, Welcome Series), and more to keep customers engaged. We couldn’t be prouder of the Silverist journey, and we’re excited to see what’s next! Check out the full story here: https://lnkd.in/gevfEhrV #ecommerce #Shopify #UX #webdevelopment #Netalico #Silverist #shopifyplus #digitaltransformation

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Going to #DiscoveryX tomorrow? Here are the things that I’m mostly looking forward to: ✅ Further developing relationships with the members of the Toronto investment community. No, we are not raising at Mavuus, but it's never too early to start building connections. ✅ Meeting the founders of the latest and greatest tech innovations. I love hearing about other people’s ideas and their success - it’s definitely a source of inspiration. ✅ Lastly, watching the Pitch Competition from early-stage startups. Honestly, they are my absolute favorite thing to do when at conferences. Want to learn the pitching Do’s and Don’ts? This is your place to start. Want to exchange notes on Top Things at #DisoveryX? Let’s connect.     

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As a founder, have you ever been curious about this whole angel investing thing? This week's findfunding.vc spotlight is on an investor who's an expert in it you simply have to know: Matt Wilson, MBA from Allied Venture Partners. He: 🇨🇦 Is Calgary based 😇 Manages one of Canada's largest angle investor syndicates (now at 1,800+ members!) 🏒 Worked as a professional ice hockey referee, which he says shares remarkable similarities with investing Amongst founders, Matt Wilson, is known for bringing empathy and perspective as a former founder himself. Aside from financial support, his goal is to be the 'right' investor - one that aligns with a founder's vision, shares his network, and provides strategic insights when asked. ✉️ Make sure to pitch him, invest, scout, advise and more at https://linktr.ee/alliedvc For more, check out our funder spotlight card below along with Allied Venture Partners' profile on findfunding.vc (link in comments).

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Cool-tech Callout (tm) Wanted to share a bit about Bold Metrics Inc., a company I've been fortunate to advise for the last little while (and which I was lucky to partner with for a few years before that). They're a bada** data science and product team that leverages actual data about you, they don't just ask where else you shop ... Brands love them b/c they drive $$$$$$$ (new sales and retention) - like an average 18% decrease in returns and a 232% increase in conversion. They’ve already partnered with major players like Vuori (my fave), Mizzen Main, and Columbia Sportswear to name a few. #Apparel Tech #AIRevolution They have developed transformative digital twin AI technology that revolutionizes the way we shop for clothes, making it easier and more personalized than ever before. I asked Daina Burnes, ceo of Bold Metrics for an overview and she shared a blurb if anyone interested ... Bold Metrics’ AI body data platform is a digital twin solution that assists apparel shoppers in finding their optimal size and fit, while concurrently aiding retailers and brands in boosting Average Order Value (AOV) and Conversion Rate (CVR), while decreasing returns. From just 4-6 simple shopper inputs, the Bold Metrics generative AI technology accurately determines critical points of measure to create unique digital twins of shoppers with over 50 body data measurements. The technology combines shopper body data with brand-specific garment data, providing tailor-level accurate size recommendations that show how an item will fit across critical points of measure — allowing shoppers to choose their best size based on their personal fit preference #ApparelTech #AIRevolution

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Are you a B2B software startup founder at the very start? Then you have to meet this early-stage investor! This week's findfunding.vc spotlight is on Dominic Lau from Ripple Ventures. He: 🇨🇦 Is Vancouver and Toronto based 🎣 Loves to fish 🎶 Founded the RippleX Fellowship - a platform to help underrepresented founders access mentorship, intros, and the tools to get from idea to revenue to funding Amongst founders, Dominic and his team at Ripple Ventures, including Matt Cohen, are known for being hands-on partners who open valuable networks, navigate challenges together, and assist in closing crucial revenue and funding deals. Make sure to: ✉️ Pitch him at dom@rippleventures.com 👀 Look into the RippleX Fellowship - they take 10 companies 2x a year through the Founder Fellowship program and also back companies through the Fellow Fund For more, check out our funder spotlight card below along with Ripple Ventures' profile on findfunding.vc (link in comments).

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Some Shopify brands are customer-centric, and then there's DOLAN. When you meet a customer-centric Founder, it's unmistakable. Jodie Dolan built an impressive scrubs brand that emerged in a competitive market with a best-in-class product and an organizational framing that truly puts the customer at the center of *everything* they do. As a size-inclusive brand, that obsession over the customer experience led her to provide her web visitors with the confidence to convert with The Dolan Difference. If you can't find your size, they'll straight up make you a custom pair. Now that's an unwavering commitment to the customer. Keep up the impressive growth, Jodie Dolan and Philip Atkins!

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This post from Alexis Grant is clear, concise and to those who have this on their radar, includes valuable nuggets. Bottom line: once you’re on your journey, moving at highway speed, pay attention as traffic, accidents, potholes and better routes etc can appear and approach rapidly, requiring decisions to be made. Huh? Ok, forget all that. Just read her post.

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What If Alternatives Aren’t So Alternative? This is something most private market investors and family offices think about on a regular basis. There is a level of simplicity that has been built into the public markets that makes them accessible to almost everyone. This is not the case in the private markets and if it is simplified then it’s likely that you are the one left holding the bag while everyone else is exiting. That is the feature and where the returns are. That’s why I allow other family offices to participate in my deals at F Partners as sometimes they’re so weird and wonderful that the average investor thinks we’re all crazy. Read The Full Article Here: https://lnkd.in/eeF5DrxX #singlefamilyoffice #familyoffices #familyoffice #privateinvestor #privatemarkets

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After almost 1 year of Meta blocking news in Canada, News content is still being OPENLY shared on Instagram and Facebook… We now have over 2,300 examples of News posts / screenshots live on their platforms, being shared, engaged with and viewed by millions of Canadians. Except these aren’t shared from actual news organizations… No, they are shared by various accounts or brands that somehow bypass Meta’s filters or don’t meet their arbitrary definition of a News business. To be fair, this is not only Meta’s fault. The wording and clauses of inclusion in the Online News Act are flawed ❌ According to the law, Platforms (Meta and Google) are only forced to compensate news publishers if they are caught carrying news content from actual News Organizations, not carrying news content from non-News organizations. Do you see how f*cked this is? So, accounts from organizations or individuals that are not defined as news organizations can take content from Canadian news organizations, repost it on Instagram and Facebook, and use that content to grow their followings and brands without being blocked. This is all happening and being profited from on the backs of legitimate news publishers and journalists, who bear all the production costs but have no access to the distribution benefits. We can’t even f*cking opt-out. Our Government can either: A. Reword the legislation to include an official approved list of News Organizations (and these companies should have the option to opt-in or out of Bill C-18) B. Reword the legislation to include ALL news content, not just news content coming from news organizations C. Kill the bill, apologize and leave our distribution alone I prefer C. Let’s do C.

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