He replaces chairman Patrick Pichette, who becomes lead independent director. Dasilva become executive chairman and keep a hand in strategy while overseeing Lightspeed’s corporate social responsibility and diversity, equity and inclusion efforts. The stock stock fell 12 per cent in after-hours trading Wednesday. Factoring out acquisitions, software and transaction revenue grew by 74 per cent. Lightspeed’s net loss was US$65.5-million in the quarter, compared with a net loss of US$42.7-million a year earlier. Its revenues were better than the US$140-million to US$145-million Lightspeed had forecasted and beat analyst expectations. 31, up 165 per cent year over year, and an adjusted operating loss of US$7.1-million. The company said it generated US$152.7-million in revenue in the period ended Dec. The Montreal company, which supplies internet-based point-of-sale and payments software used by more than 150,000 restaurants, retailers and hospitality providers globally, announced the change as it unveiled third-quarter earnings after a difficult few months that saw its stock fall by 75 per cent. LSPD-T and one of Canada’s most successful technology entrepreneurs, is stepping down as CEO of the company he started 17 years ago and handing the reins to president Jean Paul Chauvet. Log In Create Free Accountĭax Dasilva, founder of Lightspeed Commerce Inc. "Lightspeed to acquire ShopKeep for $440 million USD, reports strong Q2 results". "Lightspeed to acquire point of sale rival ShopKeep for $440 million". ^ Gagliordi, Natalie (5 November 2020).^ "ShopKeep Focuses on Growth with $60 Million in Series D Funding".: CS1 maint: archived copy as title ( link) ^ " Raises $2.2M in Series A Round, Plans New Hires | Xconomy".^ "Cloud Computing Revolutionizes the Customer-Retailer Transaction".^ "Case Study: The Benefits of Running a POS System in the Cloud".^ "ShopKeep Rings Up $60 Million Investment - Finovate".^ "When does a start-up stop being a start-up?".^ "On 'cloud' nine! Greene Grape owners lead way in web-based shopkeeping technology".^ "How to Identify a Business Opportunity".^ "ShopKeep Announces $60 Million Series D Round Funding".Tech companies in the New York metropolitan area.On 25 November 2020, Lightspeed announced closing the acquisition of ShopKeep. On 5 November 2020, Lightspeed announced it has entered into a definitive agreement to acquire ShopKeep Inc for $440 million. As of July 2015, ShopKeep has raised over $97 million in funding. In August 2011, the first iPad version of ShopKeep was released in the App Store. Jason hired Bill Walton as the original system architect and engineer to build the ShopKeep Platform in October 2008. He also developed it from the eyes of a retailer and used his expertise to create a user interface that is intuitive to the merchants and the cashiers that stand behind the counter. He developed ShopKeep POS as a cloud-based point of sale system to allow a merchants to access data even when they are not in the store. When Jason's point of sale system in his stores broke down, he decided that there had to be a simpler, smarter solution for small businesses. David Olk, former Director of M&A at IAC, joined as the third co-founder and COO in July 2011 to help Jason and Amy execute on their vision and raise outside capital, eventually closing the company's first external raise 6 months later in December 2011. ShopKeep was co-founded by Jason Richelson, co-founder of several retail stores in Brooklyn and New York City, and Amy Bennett out of their wine store in Brooklyn in the fall of 2008 after their point of sale software crashed for the last time. The smartphone dashboard app allows merchants to view real-time store sales remotely. The web-based BackOffice allows inventory, employee, and customer management, and analytics and reporting. The system allows merchants to ring up sales, print or email receipts, pop a cash drawer, accept credit cards and print remotely to the kitchen right from an iPad or Android tablet. Founded in 2008, its POS system is used by more than 23,000 small businesses in the United States and Canada, most of which are retail shops, coffee shops, restaurants, and bars. ShopKeep by Lightspeed is a cloud-based iPad point of sale (POS) system headquartered in New York, NY.
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