April News: Bitstrips acquired, 500 Startups in Canada, UberPITCH comes to Toronto

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.

Featured news

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.

 Source: Betakit

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.

Source: Betakit

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.

Source: Betakit

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.

Source: Betakit

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.

Source: Betakit

Other news

  • 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