Scaleup Mediafund has backed financial services comparison scaleup Finder and ASX-listed life insurance specialist NobleOak in its latest media-for-equity investment swap. The fund provides companies with advertising and paid media from its $15 million third fund – the value of discounted advertising inventory provided by the fund members – spanning publishers, outdoor advertising firms and… Read more »
Sydney business journalism disruptor ausbiz has forged a strategic equity partnership with Western Australian tech veteran Marketech. The partnership, structured as an ‘equity for content and promotion’ deal, is similar to the equity agreements struck by ASX-listed Airtasker with Channel Four in the UK, and other media companies. Perth-based Marketech is the 20-year-old tech innovator… Read more »
Australian Super has sold holding in logistics software giant WiseTech Global in recent weeks as founder Richard White returned to the business as chairman. The superannuation fund had more than 2.2% of WiseTech (ASX: WTC) shares and had backed the business since its 2016 float. But governance concerns amid board resignations and White’s elevation to… Read more »
WiseTech Global’s founder and newly appointed board chair Richard White “made inaccurate and incomplete disclosures concerning the nature and duration of his relationship” involving two employees, but has pledged to do better, an ongoing report into his behaviour as the former CEO has found. Releasing a 9-page update to the ASX, WiseTech said the board… Read more »
ASX-listed startup accelerator and investor Scalare Partners (ASX: SCP) has made its third acquisition, snapping up VC matching marketplace Inhouse Ventures in a deal worth up to $1.73 million. Scalare initially invested in the marketplace in November 2023, taking a 20.7% stake. Venture studio Shadowboxer also backed Inhouse, which was founded by CEO Elliot Spiegel in… Read more »
Total revenue increased 115% to $1.296 million Gross profit rose 173% to $524,719 Underlying EBITDA at -$307,186 before $986,731 in costs for ASX listing. Cash on hand is $3.8 million. The nearly $1 million cost of a backdoor listing on the ASX last year has seen Scalare Partners (ASX: SCP) post a statutory EBITDA loss… Read more »
Wisetech Global’s former CEO, Richard White, finally has a new job at the logistics software company he founded 30 years ago – executive chairman. The appointment follows the resignation of former chair Richard Dammery and three other non-executive directors, Lisa Brock, Michael Malone and Fiona Pak-Poy, on Monday in a battle for control of the… Read more »
Four independent non-executive directors (NED), on the WiseTech board, including chair Richard Dammery, have resigned and will depart from the company when its half-yearly results are released on Wednesday. The other NEDS stepping down are Lisa Brock, Michael Malone and Fiona Pak-Poy. Joining as a new director of the ASX-listed logistics software business is Shearwater… Read more »
WiseTech Global shares were placed in a trading halt on Thursday morning at the logistic company’s request amid undisclosed governance concerns. Trade is not expected to resume until at least Monday, February 24. An update on the review was expected when the company reports on Wednesday. “The trading halt is requested to enable the Company… Read more »
A week after Atlassian announced it would be lead sponsor of the Williams Racing Formula One team, ASX-listed Airtasker is slapping its name on the Visa Cash App Racing Bulls (VCARB) F1 team. It’s not that VCARB is going to be post “Wanted: someone to change 4 tyres in under 2 seconds” on the casual… Read more »
Brag Media cofounder and former CEO Luke Girgis has launched legal action in the NSW Supreme Court against the company that bought his business, ASX-listed Vinyl Group. The acquisition deal dates back to December 2023, when Vinyl (ASX: VNL) announced it would pay $8 million in cash to acquire 100% of The Brag Media and… Read more »
ASX-listed Seek’s venture fund is selling a $95 million portion of its holding in unicorn HR startup Employment Hero to US investment firm KKR. The deal was announced as part of Seek’s (ASX: SEK) half-yearly results today, which saw ANZ revenue declined by 4% to A$416m, reflecting a 14% drop in job ad volumes. Total… Read more »
Car subscription startup Carbar could be a little more public after nine years, having made a takeover bid for ASX-listed rival Carly. The non-binding agreement to merge was announced just before market close on Friday. It will see Carbar acquire all of Carly Holdings Ltd (ASX:Â CL8) for $160,000 in cash and around $3.64 million worth… Read more »
ASX-listed WiseTech Global’s billionaire founder Richard White has been subject to more two confidential complaints , from an employee and supplier, the company conceded on Monday following media reports of more allegations of inappropriate conduct. “These are being considered in the ongoing Board Review,” the logistics software company said in a statement to the market.… Read more »
Bunnings may be a goldmine for Wesfarmers, but ecommerce site Catch has been a millstone since the ASX-listed retail conglomerate bought the tech startup for $230 million in 2019. Today, Wesfarmers announced it will shut down Catch at the end of April, blaming increased competition in Australian ecommerce. They expect Catch to post a loss… Read more »
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