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In the news … Thursday, May 2, 2019

‘It’s not a surprise’: Vancouver-based Hootsuite lays off dozens of employees

CTV News has learned Hootsuite, the Vancouver-based social media management company, has laid off more than 100 employees or roughly 10 per cent of its workforce.

In a statement, the company would not specify exactly how many people were let go but did say “Today Hootsuite communicated organizational changes in order to drive greater alignment with our growing company’s strategic priorities that best serve our customers.”



Certain colors make brands instantly recognizable, like Coca-Cola’s red, Tiffany’s pale turquoise and Facebook’s deep blue. Soon we’ll be seeing less of that blue. At Facebook’s F8 developer conference, the company laid out an ostensible roadmap for more privacy controls as well as the plan to unify the platform so people on Facebook, Instagram, Messenger and WhatsApp can message each other, and unveiled an overhaul of its main social network, including a new look, Ad Age’s Garett Sloane reports.


5G wireless networks are coming and Canada is woefully behind

The allure of 5G (5th-Generation Wireless Systems) goes beyond just speed, but speed is one of its major draws.

In the early 2000s it was all about 3G, a way for faster communication and connectivity through wireless transmission. We got to connect our freshly minted mobile phones with Wi-Fi. It was a pretty big deal.


Designing a Digital Business for the Digital Age

In our digital age, all companies must change how they think, how they interact with customers, partners, and suppliers, and how their business works on the inside. Customer, partner, and supplier expectations have changed, and a gap is opening between what they expect from their interaction with companies and what those companies are currently able to deliver. Companies must immediately work to close this expectation gap, or their entire business is at risk.


Buying a business drives growth, but preparation is key, says new BDC study

Key findings:

Entrepreneurs who undertake a well-structured acquisition are 94% more likely to become high-growth businesses three years after an acquisition.
Entrepreneurs who acquire additional businesses do so to grow, with 41% aiming to increase market share and 24% wanting to add a new business line.
Buying a business can drive a company’s growth. Firms that acquired more than one business were 66% more likely to have generated annual revenue growth of 10% or more in the last three years.
Acquiring another business is good for revenue growth. Forty-six percent of small and mid-sized enterprises (SMEs) who acquired one or more businesses in the past 10 years said revenue growth was outpacing their industry average, compared to 38% of SMEs without an acquisition.


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