W: The SaaS Weekly – Hootsuite Acquisition Drives Shift to Intelligence

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Hootsuite, a leading social media management platform, has announced its plans to acquire Talkwalker, an artificial intelligence (AI) consumer intelligence and social listening company headquartered in Luxembourg. This strategic acquisition reflects Hootsuite’s commitment to enhancing the social media experience for its customers by leveraging advanced AI technology.

By integrating Talkwalker’s capabilities into its platform, Hootsuite aims to provide its users with deeper insights into consumer behavior, sentiment analysis, and social media trends. This move underscores Hootsuite’s evolution from a traditional social media management tool to a more comprehensive solution that enables data-driven decision-making.Through this acquisition, Hootsuite intends to empower businesses to better understand their audience, optimize their social media strategies, and ultimately drive more meaningful engagement and relationships with their customers.

Amazon.com Inc. has announced the discontinuation of its Alexa Developer Rewards Program, previously incentivizing developers to create applications for Alexa. This decision reflects a shift in Amazon’s strategy for building its voice-activated digital assistant ecosystem.Narbe Alexandrian, through Toronto’s Define Capital, OMERS Ventures, and RIV Capital, plans to acquire profitable vertical SaaS and B2B software firms. The focus is on long-term value creation through optimization and strategic holding.

Model N, a platform utilized by major companies such as Johnson & Johnson and AstraZeneca, is set to go private in a significant $1.25 billion deal with private equity firm Vista Equity Partners. This move underscores the ongoing trend of private equity firms acquiring struggling tech companies to revitalize their operations.In parallel, Pinterest is intensifying its efforts in Canada, strategically leveraging the nation’s robust talent pool in artificial intelligence and machine learning. The goal is to elevate its platform into a more robust shopping destination, tapping into the expertise and innovation present within Canada’s tech ecosystem.

Checkr, a startup specializing in employee background checks, has laid off 382 employees amidst challenging economic conditions affecting hiring trends.Beeper, a universal messaging application, has been acquired by Automattic, the firm behind WordPress and other popular platforms, in a deal reportedly valued at $125 million USD.Coinbase Canada’s CEO, Lucas Matheson, emphasizes the permanence of crypto as an asset class and discusses the company’s role in driving adoption in Canada.

FloQast, a company streamlining accounting work, has secured a $100 million Series E investment led by Iconiq Growth, reaffirming its unicorn status.Intel’s Canada Marketing Director, Asma Aziz, discusses the company’s vision for enterprise AI adoption through open ecosystems following Intel’s recent announcements on energy-efficient processing chips and an open AI app ecosystem.Docusign is venturing into the contracts software category with its upcoming AI-powered “intelligent agreement management platform,” aiming to revolutionize contract management.

Osler, Hoskin & Harcourt LLP has unveiled its third annual study, offering valuable insights into venture capital and growth equity financings spanning from 2020 to 2023. This comprehensive report provides essential data for founders, entrepreneurs, investors, and advisors, offering a deep understanding of the evolving landscape in the realm of venture capital and growth equity.