News & Analysis

36 things in the budget you need to know about, according to CommSec’s economist

- May 11, 2021 2 MIN READ

Treasurer Josh Frydenberg unveiled the full picture of the Morrison government’s 2021 budget tonight, following a series of headline announcements over recent weeks. Among the key details of a Coalition government that previously sought to hammer the Labor opposition over its deficit budgets during the GFC a decade earlier was the fact that the budget… Read more »

News & Analysis

‘We want to see more innovation commercialised in Australia’: Josh Frydenberg’s 2021 Budget speech

- May 11, 2021 13 MIN READ

Australia is coming back. In the face of a once‑in‑a‑century pandemic, the Australian spirit has shone through. Doctors and nurses on the front line. Teachers and students in the virtual classroom. Businesses, big and small, keeping the economy moving. ‘Team Australia’ at its best. A nation to be proud of. We have come so far… Read more »

News & Analysis

Your 90-second guide to the day in tech

- May 11, 2021 2 MIN READ

Welcome to Budget Day! Here’s what we’ve spotted in tech from around the world. Pedalling backwards Covid craze bike business Peloton dropped its Q3 earnings late last week, and the numbers are impressive, with Q3 total revenue up 141% to US$1.2 billion, digital subscriptions rising 404% to around 891,000 for the quarter and total members… Read more »

Tyro
Fintech

Payments platform Tyro buys medical fintech startup Medipass

- May 11, 2021 2 MIN READ

ASX-listed payments platform Tryo (ASX: TYR) is spending $22.5 million to acquire NAB-backed digital health payment startup Medipass Solutions The deal gives an exit for the four-year-old Melbourne-based startup’s key investor, NAB Ventures. Founder Peter Williams and CEO Jonathan Davey will also sell their stakes, in the 100% acquisition by Tyro, but will remain with… Read more »

News & Analysis

Space tourism is coming – all you need is $250,000 and be happy to sign your life away

- May 11, 2021 4 MIN READ

Billionaire Jeff Bezos’s space launch company Blue Origin has announced it will sell its first flights into microgravity to the highest bidder. Blue Origin and its two greatest competitors in the “space tourism” field, SpaceX and Virgin Galactic, claim to be advancing humanity through the “democratisation” of space. But these joyrides aren’t opening up access… Read more »

Funding

Fintech lender Athena banks $90 million series D

- May 11, 2021 < 1 MIN READ

Fintech Athena Home Loans has raised $90 million in its latest funding round. A range of previous investors returned for the series D, led by Square Peg Capital, including AirTree Ventures, Macquarie Bank, superannuation funds AustralianSuper, Hostplus, and Sunsuper, plus Salesforce Ventures, and Apex Capital. Athena previously raised $70 million in a series C in… Read more »

News & Analysis

Your 90-second guide to the day in tech

- May 10, 2021 3 MIN READ

Happy Monday! And welcome to a special Elon-gated edition of the guide. Musk unmasks Tesla boss Elon Musk chose legendary US comedy show Saturday Night Live to reveal he has the high-functioning autism spectrum disorder Asperger’s syndrome, saying he was the first person with the developmental disability to host the show. “Look, I know I… Read more »

Global tech

The ACCC is trying to insert itself into the App Store fight between Apple and Epic Games

- May 10, 2021 2 MIN READ

Competition regulator the Australian Consumer and Competition Commission (ACCC) is applying to the Federal Court to appear as part of a local legal battle between Fortnite maker Epic Games and Apple over control of the App Store. Epic has filed an anti-competition complaints against Apple in the European Union, UK, US and Australia over App… Read more »

Covid-19

Canva is leading some of the biggest names in Australian tech to help get medical supplies to India

- May 8, 2021 2 MIN READ

As the number of coronavirus in India surpassed 20 million this week, resulting in more than 220,000 deaths, a group of leading Australian tech and investment companies, led by Canva, have stepped in to launch a fundraising campaign to get much-needed medical supplies to the nation. Canva, in collaboration with SafetyCulture, Airtasker, Blackbird Ventures and… Read more »

News & Analysis

The startup sector responds to the Australian government’s $1.2bn digital economy plan

- May 7, 2021 8 MIN READ

The federal government revealed some of its budget plans this week with prime minister Scott Morrison and treasurer Josh Frydenberg announcing a $1.2 billion Digital Economy Strategy. The headline figure is not as impressive as it initially sounds, with that figure spread out over six years rather than the usual budget stretch of four. And… Read more »

Data Republic
News & Analysis

Sydney data exchange startup Data Republic has been placed in voluntary administration

- May 7, 2021 2 MIN READ

Data exchange startup Data Republic has been placed in voluntary administration after seven years and raising more than $30 million from prominent investors including ANZ, Westpac’s Reinventure, NAB Ventures, Singtel Innov8, Qantas Loyalty and Singapore Airlines. Founded in Sydney by Paul McCarney and Danny Gilligan in 2014, the business had expanded to have offices in… Read more »

Global tech

6 questions answered on the Facebook Oversight Board making calls on user bans

- May 7, 2021 5 MIN READ

Facebook’s quasi-independent Oversight Board on May 5, 2021, upheld the company’s suspension of former President Donald Trump from the platform and Instagram. The decision came four months after Facebook CEO Mark Zuckerberg banned Trump “indefinitely” for his role in inciting the Jan. 6 riot at the U.S. Capitol. The board chastised Facebook for failing to… Read more »