You have probably heard about Amazon’s new Flexible Payments Service… what you didn’t know is that FreshBooks, the Toronto based invoicing startup, was one of the very first companies invited by Amazon to try integrating the payment service. Great news all around! Amazon’s entry means more competition in the online payment market… good for consumers, good for startups. And FreshBooks was recognized by Amazon as the perfect partner to demo their newest web service utility. Think Canadian startups are going unnoticed by the web giants? Think again!
Club Penguin, based in Kelowna, has been acquired by Disney for $700M. In an open letter announcing the acquisition, the site’s founders promise to keep the site free of advertising and hint at site localization. Sony had previously attempted to acquire Club Penguin for $500M. This is a huge exit for founders Lane, Dave, and Lance. Congratulations!