April 19, 2023: A Good Mental Exercise for CEOs (or aspiring ones)

What is Firework?

Firework is an end-to-end immersive commerce solution built for retailer websites - bringing the power of shoppable and live video into the places where people shop.

What was the insight/inspiration that led to the launch?

The meteoric rise of live shopping in China coupled with the clear need for a re-imagination of online shopping in the rest of the world.

How has it been received by the market? Why do you think it has been so well received?

We've partnered with brands including Walmart, L'Oreal, Amex, Unilever, NBCU, Natori, Vogue, Muji, Vuori, Levi's, The Gap, and more to bring video commerce to their websites.

The positive reception stems from the fact that when brands host videos on their websites, the time spent through conversion spikes. That is something brands are recognizing. They can no longer just relegate their audience building to social sites alone.

Why did you decide to join?

I joined the leadership team during their Series A. My core reason for joining is a fundamental belief that what we do is at the forefront of the next generation of commerce - it's going to happen and Firework was and is best positioned to be the leader in that space.

My belief in the founders - and a big reason I joined the company - is the incredible tech that was already established coupled with a very audacious vision. It wasn't to put the video on a website, it wasn't to help brands run livestream shopping initiatives, but it was to change the way in which people engaged with websites on the open Internet.

A strong product vision and an audacious goal were what appealed most to me.

What has been the hardest thing on your journey so far?

I joined the pre-product market fit. To that, there has been a lot of rework on the go-to-market whilst having a large sales team already in place. Micro-pivots with an established sales team can be very challenging.

What has been the most pleasant surprise?

How fun it is! A shift from spending a disproportionate amount of time on political posturing, to spending a large amount of time on really thinking about and exploring the approach.

Who is the unsung hero on the team? Why?

My VP of Sales Enablement and Product Marketing has four superpowers; a) moves faster than time, b) can get to the answer before there's a question, c) is respected by everyone as a result, d) somehow is everywhere, all at once.

You need a right hand that you can just trust to 'go'!

What are you trying to achieve over the next 12 months?

Establish Firework as a 'must-buy' (not a nice-to-have) solution in much of the World, generate a ridiculous amount of quality pipeline, and increase the likelihood that that pipeline converts to a customer.

What advice do you wish you had been given prior to launching?

A founder's mind is full of a million brilliant ideas. Your job is not to convert those ideas to fruition, but to find the commonality in them as it relates to what already exists - to create the common thread.

What is your proudest accomplishment outside of your startup?

I had two kids in the last two years - getting them to laugh (which is not difficult), but it's the thing that makes me proudest and happiest.

Who are the Canadian startups you like in your market?

• Salesfloor - Revolutionizes the digital sales experience by combining human interaction and AI

• Sampler - The ultimate product experience platform

• Storytap - Taking a video first approach to customer experience

• ShopThing - Making top brands available through digital live shopping events and experiences

Drew takes the TechTO stage at our upcoming TechTO: Retail event on May 24.

Grab your tickets while they last

What is the news?

AutoLeap announced a $30m USD raise led by Advanced Venture Partners with participation from Bain Capital Ventures, Threshold Ventures, and Maple VC.

What enabled AutoLeap to raise?

Strong growth, strong customer usage, and tailwinds.

When we talk about seed rounds we talk about team and market. In this market, a Series B is about growth, customer value, and the ability to continue growth.

AutoLeap has exhibited all three:

• Growth: The company has grown its user base by nearly 10x and revenues have grown by a similar amount.

• Customer value: The company claims auto repair shops drive 30% revenue growth and save 50% of their administrative time by using their software.

• Tailwinds: 90% of auto repair shops use old technology - so lots of market to still conquer. Cars are staying on the road longer - meaning they need more frequent and expensive repairs.

Did anything else help?

The reputation of the founding team who previously purchased and scaled a vertical saas business.

What are the other takeaways?

Vertical SAAS for unsexy businesses still has a lot of opportunities. We live in a bubble and think that everything is using the latest tech. Most of the work is not.

Series Bs are happening again but they are now being treated like series Bs in 2017, not 2021.

In 2021 signs of product market fit were good enough to raise a round. I expect the companies that announce a Series B to have much more staying power and continue to increase in value.

It is not all doom and gloom.

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Quick Takes returns with another episode on April 20.

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Data Engineering Manager, Local Logic (Montreal | Remote)

Why is this cool? Local Logic is digitizing the built world to make it universally understandable and actionable for consumers, investors, developers, and governments with the ambition of helping build cities that are more sustainable and equitable for the people that live in them. As a Data Engineering Manager, you’ll be responsible for leading and managing the team responsible for building Local Logic’s next-generation data platform that is used to create their location-based insights and predictions from large and diverse sources of data.

Front End Developer, Maple (Remote)

Why is this cool? Founded in 2015, Maple is a fast-growing health tech company with a vision to power the future of healthcare by building a connected and superior experience for patients, doctors, and other types of health providers. They’re looking for developers who want to make an impact and thrive in a fast-paced, dynamic environment with an open culture and flat hierarchy.

Account Manager (Sales), Klue (Vancouver, BC)

Why is this cool? Klue is a VC-backed, capital-efficient high growth SaaS. They’re creating the category of competitive enablement: helping companies understand their market and outmaneuver their competition. They are looking for an Account Manager to help them grow their team!

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Check out the interesting content, events, and happenings for the community here:

• TechTO Together: MONTREAL April 25, 2023: You'll hear from Katy Yam, Sarah Jenna, Kyle Boulay, Therence Bois - learn from some of the top leaders from the Montreal tech ecosystem  

• TechTO Together: TORONTO May 1, 2023: Learn from the greatest Founders, Investors, and Innovators including Janet Bannister, Alex Gould with more announcements coming soon! 

• TechTO: Retail May 24, 2023: Learn from Lauren Steinberg, Amber Foucault, Drew Cashmore, Marie Chevrier, Kelly Brawn about all things technology, brands, and retail

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