Shares in Sydney fintech Prospa have plunged nearly 28% in early trade on Monday, to a record low of $2.79 after the company released a trading update that downgraded revenue expectations for the remainder of 2019, less than six months after its IPO. The market reacted savagely to news, wiping more than $1 off the… Read more »
Just remember Sylvia and Gerry Anderson had a woman based on the moon by 1999 back in the mid-70s. Image: Space 1999. Got that Friday feeling? Remember it’s just 39 sleeps to Christmas. 1. WeWork’s death predicted WeWork’s rapid expansion included how much money it’s losing, with The New York Times reporting the company’s… Read more »
Linktree co-founders Zaccaria, Nick Humphreys and Anthony Zaccaria Melbourne-based social media venture Linktree is the only Australian startup to make the cut in US business site CNBC’s list of the world’s most promising startups. The annual list by CNBC looks for the top 100 venture-backed startups globally with the potential to transform industries and become… Read more »
Payright co-founders Piers Redward and Myles Redward. Photo: supplied Australian payment plan fintech Payright is launching its buy now, pay later service in New Zealand in its first offshore foray. The buy now, pay later (BNPL) startup, typically for products prices between around $1,000 and up to $20,000, will start across the Tasman with direct… Read more »
Welcome to Wednesday. Hope you’re feeling well. If not, try shouting “Hey Google, what’s wrong with me” and if they know. 1. Google is collecting US health data The search giant is using the data of up to 50 million Americans from US non-profit health company Ascension as part of what it calls “Project Nightingale.”… Read more »
Serial entrepreneur Simon Van der Molen says he always knew from a young age that he had a mission to achieve in life. “It just took many years for me to work out exactly what that would be,” he smiles. Today Van der Molen (pictured above) is the founder of Moving Mountains, a globally successful… Read more »
One of Sydney’s leading startup accelerator and investment firms, BlueChilli, is shifting away early-stage startups to focus instead on scale-up companies instead, the company has announced. In response to the changing priorities of its corporate backers, BlueChilli will pivot in 2020, having expended the $10 million in the BlueChilli Venture Fund on early-stage startups… Read more »
Compass Education co-founders John de la Motte and Lucas Filer Melbourne-based schools management platform Compass Education has landed $60 million in its first major raise, with private equity firm Advent Partners taking a minority share in the startup ahead of its international expansion. The school management software platform says it’s now used by more than… Read more »
Hello Tuesday. Thoughts and fingers crossed. 1. The climate change startup accelerator Atlassian’s Mike Cannon-Brookes is among those who’ve thrown their support behind a new Startmate accelerator for startups tackling climate change. They’re looking for 10 ventures and offering up to $75,000 for a 7.5% stake in each one. A bunch of VC… Read more »
The mining billionaire’s photo has been used by scammers in social media ads for cyptocurrencies Forrest is one of several high-profile Australians the scammers falsely claim back crypto schemes that cost those who’ve believed the ads millions of dollars Facebook says its doing its best to combat the fake ads Forrest wants governments around the… Read more »
As fires rage across Australia’s eastern seaboard, with three lives lost, more than 150 homes destroyed and Sydney braced for “catastrophic” conditions on Tuesday, some of the country’s leading tech titans are backing a new initiative from accelerator Startmate, which is looking to back 10 startups focused on tackling climate change. The Startmate Climate Cohort,… Read more »
It’s Friday and major stuff’s happening. Like. 1. Airbnb will audit houses after Vice exposed a massive scam After 11 years in business, a US$35 valuation and hopes for an IPO, the normally aloof house sharing platform Airbnb is actually going to take more than a casual glance at what’s going on with the… Read more »
Xero CEO Steve Vamos. Operating revenue rose 32% to NZ$338.7 million in H1 FY20 30% growth in annualised monthly recurring revenue to NZ$764.1 million 30% growth in total subscribers to 2.057 million NPAT increased by NZ$29.9 million to NZ$1.3m Business is booming for cloud accounting software business Xero, with the NZ-born startup topping two million… Read more »
Small business insolvencies have risen 20% over the last quarter, an increase of 8% year-on-year in an ominous sign for the Australian economy, with CreditorWatch CEO Patrick Coghlan saying the latest data is “the canary in the coal mine”. Coghlan suggests the rise in businesses being declared insolvent doesn’t bode well for the economy. Coghlan’s… Read more »
An artist’s impression of the good ship Zuckerburg right now. It’s only Thursday and we’ve just read NBC and with one more sleep to TGIF, right now we’re OMFG. But not surprised. 1. Facebook leaks and it’s not pretty Mark Zuckerberg tied to leverage Facebook user data as a bargaining chip leaked company documents… Read more »
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