Each month, we round up links to the news relevant to Toronto’s startup community. This could be company news—like Bitstrips’ acquisition, or Breather’s Toronto launch—as well as news relevant to the community, such as 500 Startups launching in Canada, or last month’s report on founder CEOs vs. professional CEOs.
Toronto’s Bitstrips acquired by Snapchat
Insanely popular messaging app Snapchat has acquired Toronto’s Bitstrips, the makers of the fun-as-hell avatar keyboard Bitmoji, for $100M.
500 Startups launches $30M fund for Canada
Lead by Sanjay Singhal, 500 Canada plans to invest $100k in 50 companies each year with partners or associates in Toronto, Waterloo, Montreal, Vancouver and Fredricton.
Canadian startups more likely to replace founder CEOs
Canadian founder CEOs are 2.6 times more likely to be replaced by professional CEOs, but the companies that keep founder CEOs have higher valuations and raise more money.
Breather opens its first Toronto work spaces
Montreal’s Breather has opened its first on-demand work spaces in Toronto’s fashion and financial districts.
Influitive raises $8.2M, makes two acquisitions
Advocate marketing platform Influitive raised a Series B extension and acquired two Toronto companies: Ironark Software and Triggerfox.
University of Toronto and RBC launch ONRamp, an accelerator for young entrepreneurs. Source: Notable
Mayor John Tory in Silicon Valley pitching Toronto and trying to woo expats home. Source: Toronto Star
UberPITCH offers 15-minute rides with investors, users report varying amounts of success getting a car. Source: ITBusiness