News & Analysis

Melbourne startup GetViable acquired by Bigcolors

- August 18, 2014 2 MIN READ

Bigcolors has announced today that it has agreed to acquire GetViable, an Australian business idea incubation company, for an undisclosed amount.

Working with over 2,000 founders across the globe, GetViable is a popular platform that entrepreneurs use to collaborate and build their ideas into startups using the latest information and tools.

Bigcolours, which launched at the beginning of December 2013, was set up to help connect angel investors and startups. It offers users a crowdfunding platform with a twist. If founders meet their goal before the eight-week funding period is up, investors can then trade shares in the company even before it officially launches, which lets them enjoy more liquidity.

As part of the latest deal, Bigcolors will acquire GetViable’s technology business as well as their entire customer base. GetViable is currently based out of York Butter Factory in Melbourne.

The plan is that Bigcolors will integrate GetViable’s platform over the coming months. The new Bigcolors platform enables startups to build their business from an idea, to getting initial investment and follow on investment and support.

On the Bigcolors company blog Jackie Lam, Co-Founder and COO said: “We believe that founders should have all the right tools to give their startups the best chance of success and make their business case more compelling to investors”.

“GetViable’s offering complements Bigcolors’ approach of investing in early stage startups. GetViable’s proven idea process encourages startups to consider the entire lifecycle of a startup, and develop a clear and structured business plan and investor toolkit”.

Startup Daily spoke with co-founders Leslie Barry and Dougal Edwards a short time ago.

The pair first were introduced to the Hong Kong-based co-founders of Bigcolors, James Giancotti and Jackie Lam early last year. Barry and Dougal kept in touch with the Bigcolor founders as they were very interested in their crowdfunding model. Recently, Giancotti and Lam reached out again to the pair and expressed interest in acquiring the technology and integrating it into their own platform.

On the acquisition, Barry said, “We see this as a great result, because of the reach that Bigcolors have we know that our mission around helping startups all over the globe to grow and flourish will be continued”. The GetViable website will stay live for a couple of weeks whilst they transition their customers over to the Bigcolours platform.

On a final note, Edwards added, “We must give a shout out to the Melbourne startup community in particular such as the team at York Butter Factory, and other investors and startups in this eco-system, they have been extremely supportive of what we have been doing since we started working on the business in 2012.”