Venture capital firm Blackbird Ventures has landed support from some of the countries biggest superannuation funds as well as the Commonwealth’s Australia’s sovereign wealth fund to build a record $500 million investment fund – its fourth. The Sydney-headquartered VC last raised $261 million in 2018 and has now placed $1.3 billion in the startup sector… Read more »
More than 1 million Victorians will no longer be heading to work, with around 500,000 being stood down as retailers, factories and corporates are forced to close in a bid to reduce coronavirus infections in the state. Victorian Premier Daniel Andrews also announced on Monday afternoon that the number of people allowed to work in… Read more »
Victorian Premier Daniel Andrews announced another 250,000 workers will be sent home from their workplace – to either work from home or without a job for the next six weeks – under tough new lockdowns in a bid to slow the state’s growing covid-19 numbers. “If we’re serious about driving this thing down – and… Read more »
US software giant Microsoft is pushing ahead with plans to buy the US arm of social media site TikTok despite threats from US President Donald Trump to ban the Chinese-owned site. If the deal proceeds, the Australian, New Zealand and Canadian operations would be included in the sale to Microsoft, the company said in a… Read more »
Atlassian Corporation saw revenue in the June quarter jump by 29% on 12 months ago, while total revenue for FY2020 hit US$1.6 billion (A$2.2 bn), up 33% from 2019. The US-listed (Nasdaq: TEAM) Australian software giant posted total revenue was US$430.5 million for the fourth quarter of fiscal year 2020 alongside an operating loss of… Read more »
The Commonwealth Bank (CBA) is using venture capital firms Square Peg Capital and Zetta Venture Partners to invest in startups, putting US$10 million (A$14m) each into the latest funds from the two VCs. Zetta is a US-based fund investing in artificial intelligence. In an update on the bank’s innovation program this week, CBA CEO Matt… Read more »
Western Australian mining billionaire Andrew “Twiggy” Forrest has made two more startup investments through his private family investment fund Tattarang. Earlier this month, Forrest took an undisclosed majority stake in fintech Azupay, the first company on the New Payments Platform. Over the last fortnight Tattarang has backed GLX Digital, a WA startup that developed the… Read more »
Despite the massive disruption wrought on the economy and many businesses by the coronavirus pandemic, the second half of the 2020 financial year was a manna from heaven for many startups – yet the opposite for others. And now we have a new financial year underway, amid continued uncertainty with infection rates in NSW and… Read more »
The UNSW Founders has invested $140,000 in seven startups as part of its 2020 10x Accelerator program. The ventures were chosen from among 75 startups that applied for the program and each one receives a $20,000 investment from UNSW. The companies will now take part in the 3-month support program, which this year will be delivered… Read more »
Rentbetter is an online real estate startup leading the disruption of the residential rental market providing a simple solution for landlords and tenants, from finding a tenant to managing them. The startup launched in 2016 and has since established itself as the market leader with a strong customer base. Jeremy Goldschmidt is RentBetter‘s founder and… Read more »
Applications for the Amazon Launchpad Innovation Grants fare now open with five grant packages up for grabs. Each package is worth more than $80,000 and includes a $20,000 cash grant, Amazon marketing support, AWS Activate credits, and exclusive access to mentors such as Amazon leadership and entrepreneur experts from Australia and HQ in Seattle; time… Read more »
Google has been accused of misleading consumers over the use of their data from using the internet, with consumer watchdog the Australian Competition and Consumer Commission (ACCC) launching legal action against the tech giant. The ACCC alleges Google failed to properly inform consumers, and did not gain their explicit informed consent, about its move in… Read more »
Two sisters connecting small companies with corporate buyers have won the inaugural Xccelerate2020 venture program hosted by the Commonwealth Bank’s X15 Ventures, landing a prize worth more than $300,000 from CBA and Microsoft. Frances Atkins and Naomi Vowel co-founded givvable, a platform that helps companies find and source sustainable suppliers. On top of $150,000 in… Read more »
Australia’s unemployment rate is predicted to hit 9.25% in the December quarter this year as the shockwaves from the Covid-19 pandemic continue to hit the national economy, Treasurer Josh Frydenberg said in updating the government’s budget figure In the Economic and Fiscal Update released today, the Treasurer said 700,000 jobs had been saved as a… Read more »
Reviews pre-written by companies and emailed to customers to endorse as a testimonial have cost online tradie marketplace Service Seeking $600,000 following legal action by the competition watchdog the Australian Competition and Consumer Commission (ACCC). The Federal Court hit Service Seeking Pty Ltd with $600,000 in penalties for making false or misleading representations regarding business… Read more »
THE LIST: What Victorian businesses must close or can stay open under new stage 4 covid-19 restrictions
Atlassian just had another massive year with $2.2 billion in sales – but it’s still running at a loss
Here’s what happened when I rented out my car for a year
Victoria declares state of disaster as Melbourne goes into stage 4 lockdown with an 8pm curfew
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