Murad Hemmadi

2 days ago | thelogic.co | Aimee Look |Murad Hemmadi

It started when protestors marching against police brutality toppled a statue of Sir John A. Macdonald in downtown Montreal. It was the fall of 2020 and Shopify employees were watching four of their colleagues debate the legacy of one of Canada’s most important and controversial political figures. The virtual town hall had been called because Kaz Nejatian, a recently arrived, fast-rising executive, had publicly pledged to put up $50,000 to restore the monument, sparking internal disquiet.

3 days ago | thelogic.co | Murad Hemmadi

TORONTO — Armilla AI now sells insurance to cover the legal costs and other losses that businesses might incur when AI systems make mistakes. The Toronto-based startup’s AI insurance covers third-party liability for malfunctioning tools, repaying companies’ expenses and damages up to US$15 million when customers sue or regulators investigate them. There are more than 200 lawsuits related to AI systems in the U.S., according to a database maintained by George Washington University.

4 days ago | thelogic.co | Murad Hemmadi

The Ottawa-headquartered commerce company will be added to the index on May 19, replacing MongoDB, Nasdaq announced on Friday. Shopify’s share price rose as much as 15.9 per cent in Monday trading. (The Logic)Talking point: The Nasdaq- 100 includes the exchange’s largest non-financial companies by market capitalization, a list that features tech giants like Alphabet, Apple and Netflix. Nasdaq itself claims joining the index boosts a firm’s share price.

1 week ago | thelogic.co | Murad Hemmadi

The Burnaby, B.C.-founded firm reported US$15 million in first-quarter revenue, quarter, up 509 per cent year over year. While D-Wave lost US$5.4 million over the period, its management said the US$304.3 million in cash it had at the end of March will tide the firm over until it reaches profitability.

1 week ago | thelogic.co | Murad Hemmadi

TORONTO — Shopify’s stock fell sharply in early trading Thursday as the commerce company forecast slower than expected profit growth in the current quarter, despite a fast start to the year. The Ottawa-headquartered firm reported US$2.36 billion in revenue between January and March, up 26.8 per cent year over year and ahead of analysts’ consensus estimates of US$2.33 billion as compiled by Visible Alpha.