road kill, wombat
ASX

ASX-listed BNPL Openpay handed to receivers just a week after ‘record’ results after failing to secure working capital

- February 6, 2023 3 MIN READ

ASX-listed Buy-now-pay-later (BNPL) fintech Openpay has been placed in the hands of receivers after it failed to bank working capital from its key funder. The payments platform has been shut down, effectively sealing the company’s fate. The collapse comes a week after the company’s quarterly results on January 31, which flagged delays in receiving the… Read more »

Richard White
ASX

Logistics giant Wisetech Global just gobbled up another tech startup for $327 million

- January 25, 2023 2 MIN READ

ASX-listed shipping platform WiseTech Global has acquired yet another tech company, snapping up the US logistics management software startup Envase for US$230 million (A$327m). Founded in 2020, Envase Technologies supplies transport management system software for intermodal trucking and landside logistics in North America. The acquisition deal is with private investment firm Firmament, and several other… Read more »

ASX
ASX

RBA and ASIC rip into the ASX after dumping its $250 million blockchain experiment

- November 22, 2022 3 MIN READ

The Australian Stock Exchange has pulled the pin on its much-vaunted blockchain project after seven years of work and at a loss of about $250 million. The ASX has been working with tech firm Digital Asset (DA) to develop a replacement for its Clearing House Electronic Subregister System (CHESS) based on distributed ledger technology since the… Read more »

ASX

Mike Cannon-Brookes just had a massive win in his battle for the soul of energy giant AGL

- November 15, 2022 2 MIN READ

Renewable energy activist Mike Cannon-Brookes has succeeded in his campaign to shake up the board of energy giant AGL with shareholders voting at today’s annual general meeting to appointment four new directors to the AGL board on the recommendation of the Atlassian cofounder’s family VC firm, Grok Ventures. Former Energy Security board chair Kerry Schott,… Read more »

Xero, Steve Vamos
Other

Vamos says vamos as Xero losses grow

- November 11, 2022 2 MIN READ

ASX-listed accounting platform Xero has more than doubled its net loss on the previous year to the chagrin of investors who wiped more than $1 billion from the company’s valuation following the announcement and news that CEO Steve Vamos is stepping down after nearly five years at the helm. The New Zealand tech company’s half… Read more »

dogs chasing ball
ASX

Elmo Software shares pop 28% on takeover talks

- October 13, 2022 < 1 MIN READ

Shares in ASX-listed Elmo Software (ASX: ELO) soared on Wednesday after the company confirmed it was in potential takeover talks. After stories emerged in the financial press that Accel-KKR was once again back in discussions with the HR, payroll and expense management, the company issued a “Response to Media Speculation” statement to the ASX mid-morning… Read more »

ASX
ASX

Corporate regulator ASIC takes Nuix to court over alleged misleading sales figures

- September 30, 2022 2 MIN READ

The Australian Securities and Investment Commission has launched Federal Court legal action against ASX-listed tech company Nuix and its board for alleged breaches of disclosure laws, as well as misleading or deceptive conduct around growth predictions, in the wake of the company’s IPO in December 2020. ASIC alleges that Nuix (ASX:NXL) made misleading or deceptive… Read more »

Mike Cannon-Brookes
ASX

Mike Cannon-Brookes doesn’t rule out 3rd AGL takeover bid amid board seats push

- May 31, 2022 2 MIN READ

Atlassian founder Mike Cannon-Brookes is looking for a place at the AGL board table after routing the company’s CEO and chairman and derailing the company’s demerger plan, and may make a third takeover bid for Australia’s biggest energy supplier. Cannon-Brookes spent around $650 million through his family venture capital firm, Grok Ventures, to take an… Read more »

Airtasker
ASX

Airtasker buys Oneflare for $9.8 million – a quarter of its former valuation

- May 4, 2022 2 MIN READ

ASX-listed gig economy marketplace Airtasker is acquiring services platform Oneflare for $9.8 million. The company (ASX:ART) will help pay for the acquisition by raising $6.25 million via an underwritten placement of approximately 14.5 million new fully paid ordinary shares at $0.43 cents. Airtasker shares have been placed in a trading halt at $0.51 cents. Oneflare… Read more »

ASX

Mike Cannon-Brookes launches campaign against AGL’s demerger after Grok Ventures buys 11.3% of the energy giant

- May 2, 2022 2 MIN READ

Atlassian co-founder Mike Cannon-Brookes has wasted no time in becoming an activist shareholder after taking an 11.3% stake in energy giant AGL. The billionaire launched a campaign with the slogan “Keep it together” to oppose AGL’s plans for a demerger, creating two separate ASX-listed companies, just hours after news emerged that he’d become AGL’s largest… Read more »