"LightSpeed Is Helping Stores Kill Off 'Showrooming' For Good".
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"Lightspeed Closes $166 Million Series D Round Investment".
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^ a b c "Retail Software Startup LightSpeed Now Caters For Restaurants After Buying Belgian Startup POSIOS".^ "Lightspeed Founder Dasilva Steps Down Chauvet Rises to CEO".Archived from the original on 5 July 2022. įollowing Spruce Point's report, Lightspeed released a statement saying, "The report contains numerous important inaccuracies and mischaracterizations which Lightspeed believes are misleading and clearly intended to benefit Spruce Point, which itself has disclosed that it stands to profit in the event that the stock price of Lightspeed declines." References Spruce Point argued that the company is massively overvalued and is poised to plummet to as low as $22 a share. The firm alleged that Lightspeed has covered up "massive inflation" of how many customers it has, how much money it makes from them and how much growth potential it has. The stock fell 11% following the firm's report, closing at $126 a share on the Toronto Stock Exchange. On September 29 2021, short seller Spruce Point Capital Management publicly accused Lightspeed of exaggerating its finances to investors. In fiscal 2022, the company generated revenue of US$548 million with US$3.62 billion in total assets : 5–6 and had about 3,000 employees. On March 12, 2021, New Zealand cloud-based retail software company Vend was bought by Lightspeed for US$350 million. In November 2020, Lightspeed acquired ShopKeep for US$440 million. In March, the company went public on the Toronto Stock Exchange under the symbol LSPD. On January 30, 2019, Lightspeed Payments rolled out. The technology was a result of the company's acquisition of Toronto-based ReUp, a digital platform that allows business owners to build a branded loyalty program. Later that year, the company announced Lightspeed Loyalty, a platform for customer engagement. Lightspeed unveiled Retail Success Index Tool in October. In April 2018, Lightspeed added Patrick Pichette, the former chief financial officer at Google, Paul McFeeters, the former chief financial officer of OpenText to its board of Directors.
raised about C$200 million ($160 million) in a new round of venture-capital funding. SEOShop's eCommerce platform was rebranded as Lightspeed eCom and further refined to offer complete integration with the company's retail POS software.
The next month Lightspeed acquired Amsterdam-based eCommerce software developer SEOShop and announced that it would be expanding its product offering to serve both brick-and-mortar and online retailers. In September 2015, Lightspeed closed a $61 million Series C round of funding led by Caisse de dépôt et placement du Québec and Investissement Québec, with participation from earlier investors Accel Partners and iNovia. The next year, its client base increased to 23,000 businesses in more than 30 countries. Lightspeed was serving 21,000 businesses and its per year transactions increased from $6 billion to $8.2 billion. The same year, it expanded its reach into the restaurant and hospitality industry in 2014 by the Belgian startup POSIOS. In September, Lightspeed closed a $35 million investment round led by iNovia Capital. On June 18, 2014, the company added Advanced Analytics to Lightspeed Retail's feature roster. At the time, the company had more than 15,000 store locations. Lightspeed's customers processed $7.5 billion in 2013. It acquired MerchantOS, point-of-sale software developer, and Lightspeed Retail, an HTML5 web-based product that can be used from any computer in 2013. Īccel Partners led a $30 million investment round in 2012 and from 2012 to 2013, the company observed a 120% growth in annual transactions. Profit has ranked Lightspeed 24th in 2011 and 61st in 2012 on its list of "Canada's 200 fastest growing companies". The company is backed by iNovia Capital and Accel Partners. It has its offices in Montreal, New York, Ottawa, Toronto, London, Paris, Belfast, Amsterdam, Berlin, Geneva, Ghent and Melbourne. In 2014, it expanded its customer base to include the hospitality industry. Lightspeed was founded by Dax da Silva in 2005, with its headquarters in Montreal, to provide point-of-sale and e-commerce software to retail businesses. It offers its services to retail, restaurant, and hospitality businesses. It has offices in Montreal, New York, Ottawa, Toronto, London, Belfast, Amsterdam, Berlin, Geneva, Ghent and Melbourne. It was founded in 2005 by Dax da Silva who served as the CEO of the company until February 2, 2022. Lightspeed Commerce is a point-of-sale and e-commerce software provider based in Montreal, Quebec, Canada.
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