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 »
Billionaire Richard White topped up his bank account in the December quarter, selling more than $440 million worth of shares in WiseTech, the logistics software company he founded 30 years ago. The sale represents less than 1.5% of his holding in WiseTech (ASX: WTC). White sold 3,564,742 shares across 31 days of on-market trading between… Read more »
A month after making its ASX debut in a reverse takeover, startup investor, advisor and accelerator Scalare Partners has seen its share price slide 28%, wiping around $6.5 million from its market capitalisation. As tech listings go, it’s been a less than auspicious start as a public company for Scalare (ASX: SCP), which bills itself… Read more »
ASX-listed music and media company Vinyl Group is broadening its publishing portfolio yet again, acquiring the city guides site Concrete Playground in a deal worth $5 million. Vinyl (ASX: VNL) has signed binding Heads of Agreement to acquire the 15-year-old digital lifestyle brand for $3.5 million in cash and $1.5 million in Vinyl shares, with… Read more »
Zip cofounder Larry Diamond has called time on his board roles at the ASX-listed buy-now-pay-later fintech, stepping down as a director and US chairman, effective immediately. “Now is the right time for me to step back from my day-to-day role at Zip,” he said in a statement to the ASX. “I’m very proud of what… Read more »
WiseTech Global director and cofounder Maree Isaacs has sold her 8.17% stake in RealWise Holdings, the company that owns more than a third of ASX-listed logistics company (ASX: WTC), to the man she launched the business with 30 years ago, Richard White. White already owns the other 92% of RealWise Holdings, meaning he now owns… Read more »
Startup investor, advisor and accelerator Scalare Partners made its ASX debut today, finishing the day as it began at $0.25 cents a share. The business (ASX: SCP) went public via a reverse takeover of former confectionary maker Candy Club, after banking $4.301 million of an $8 million share offer $0.25 cents a share. The raise… Read more »
Startup advisory and investment business Scalare Partners has raised just over half the $8 million it was hoping to raise as part of a backdoor listing on the ASX. The public offer raised $4.301 million at $0.25 cents a share issuing 17.2044 million fully paid ordinary shares in its reverse takeover of former confectionary maker… Read more »
WiseTech Global’s billionaire former CEO Richard White may be on leave from the company he founded 30 years ago, but he’s keeping busy on the business front, increasing his stake in ASX-listed Vinyl Group via a deal involving another one of his investments, the music licensing startup Songtradr. White stepped down as WiseTech’s boss last… Read more »
WiseTech founder Richard White has stepped down as CEO of WiseTech Global, resigned from its board and also as a director of industry lobby group the TechCouncil of Australia. The billionaire fell on his sword late on Thursday afternoon following a fortnight of media reports about his private life, including legal action, settled on Monday,… Read more »
Multi-billionaire Richard White’s early career was famously rock n roll as a guitar technician for AC/DC, but over the past month his life story has become more Shakespearean, with a sprinkling of Streisand effect, that’s taken the WiseTech Global founder from the business section to front pages amid lurid details of his personal life. It… Read more »
Athena Home Loans is now worth $310 million after REA Group (ASX:REA) unveiled plans to spend $62 million on a 19.9% stake in the fintech. The deal is being funded from the REA’s existing cash reserves and real estate giant will take two seats on Athena’s board. REA already has an existing relationship with the… Read more »
Vinyl Group’s (ASX: VNL) ongoing acquisitions appetite has added former Sydney startup Serenade to its stable in a conditional deal that represents a major haircut for investors in the NFT music marketplace. Serenade founder and CEO Max Shand will become a Vinyl Group employee, in charge of meeting a range of sales targets in the… Read more »
HUB24 (ASX: HUB) has ponied up with startup Reach Reach Alternative Investments with a strategic investment for a minority stake. The teams of the deal were not disclosed, but earlier this year Reach had been on the hunt for $3 million at a $15m valuation. The three-year-old Sydney fintech previously raised $2.2 million in a… Read more »
Startup advisory and investment business Scalare Partners is back in the hunt for $8 million to list on the ASX, after the Australian Securities and Investment Commission (ASIC) lifted its interim stop orders on the prospectus for a reverse takeover of confectionery maker Candy Club Holdings (ASX: CLB). Last week the corporate regulator intervened today… Read more »
The one that got away: After paying $230 million for Catch, Wesfarmers is shutting it down 
Telstra makes $700 million bet on AI to transform its business in Accenture joint venture 
Antler Investor Memo Series: Lyngo AI answers the healthcare communication crisis with AI receptionists 
Monash Uni lithium extraction spinout raises $27.5 million Series A 
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