Business

Tank Stream Labs launches business services suite for startups

- December 13, 2022 2 MIN READ

Technology community Tank Stream Labs has launched a portfolio of business services spanning areas such as recruitment and law to help founders build their business. The Tank Stream Labs (TSL) Group is a collection of service companies providing startups and SMEs with specialised services to support business development, audio and video content production, talent acquisition… Read more »

Kangaroo Valley property, Heggy's
Business

It looks like the Metigy liquidators have broken even selling the houses bankrupt founder David Fairfull bought with company funds

- December 12, 2022 2 MIN READ

The liquidators of failed adtech startup Metigy, which collapsed into administration in July, just 20 months after raising $20 million in a Series B, have taken a $1.45 million hit on the sale of a country property bought using company funds by the startup’s now bankrupt founder, David Fairfull. Fairfull bought the 48-hectare 4-bedroom property in the… Read more »

Business

Delivery service DoorDash cuts staffing by 6%

- December 2, 2022 2 MIN READ

American food delivery company DoorDash, which launched aggressively in Australia in 2019, is cutting 1250 staff globally as the sector more broadly tries to stem  potential financial haemorrhaging amid a global downturn in discretionary spending. Company CEO Tony Xu broke the news to staff on Thursday, Australian time, saying it was “the most difficult change… Read more »

Drive Yello founder Steve Fanale and his co-CEO at 4YouInnovation, Asheesh Chacko
Business

Cafe ordering app merges with Sydney courier service

- December 1, 2022 2 MIN READ

In an early sign that merger and acquisition activity is about to ramp up in the startup sector in order for companies to survive, Sydney-headquartered courier delivery service Drive Yello has merged with the cafe payments platform Hey You. The merged entity is known as 4You Innovation, and hopes to hit up the market for… Read more »

Business

The Ignition Lane Wrap: Sunrise. Demise. No more pies.

- November 28, 2022 5 MIN READ

Welcome to Ignition Lane’s Tech Wrap, where they cut through the noise to bring you their favourite insights from the technology and startup world.  Ignition Lane works with ambitious business leaders to apply the Startup Mindset to their technology, product and commercialisation problems.  This wrap goes out free to subscribers. Don’t forget you can catch Gavin Appel every… Read more »

Business

Menulog cuts jobs in wake of Deliveroo demise

- November 28, 2022 2 MIN READ

Menulog, one of the few surviving meal delivery companies left in Australia following the failure of Deliveroo and grocery delivery startup Voly, is shedding jobs in Australia as part of a global restructure of its Dutch parent company. The Australian-born business, which was acquired UK-based Just Eat for $855 million in 2015, cut stuffing at… Read more »

Nick Lissette
Business

Kiwi tech acquisition company Blackpearl is the NZX’s only IPO for late 2022

- November 25, 2022 2 MIN READ

Kiwi tech company Blackpearl Group (BPG) will list on the New Zealand stock exchange next month – the only IPO for the NZX in the second half of 2022. Blackpearl builds, acquires, and markets data-driven cloud services involving productivity and demand generation applications for small and medium-sized businesses (SMB). Its proprietary data platform, the Pearl… Read more »

Business

Metigy founder now bankrupt as liquidators find the adtech startup didn’t earn ‘any revenue’ in its 7-year life

- November 24, 2022 2 MIN READ

David Fairfull, founder of adtech startup Metigy, which collapsed into administration in July, just 20 months after raising $20 million in a Series B, has been declared bankrupt, amid regulator ASIC taking a closer look at potential insolvent trading in the company. AdNews reports that Fairfull went bankrupt this month – his second bankruptcy following… Read more »

Business

History repeats with Deliveroo’s collapse echoing Foodora’s 2018 exit at the expense of gig economy riders

- November 23, 2022 3 MIN READ

When food delivery platform Deliveroo announced it was shutting down Australian operations last week, it cited a tough business environment, but that tough part may actually be a looming court case challenging the company’s contract work model, according to UNSW Business School lecturer Dr Greig Taylor. His view aligns with the Transport Workers’ Union, with… Read more »

Business

Voly founder confirms it’s the end for his grocery delivery startup

- November 18, 2022 2 MIN READ

The cofounder of Sydney-based grocery delivery startup Voly, Thibault Henry, has confirmed the business has shut down, a week after the company ceased operations. Henry used LinkedIn to announce his startup’s demise on Friday morning, saying the company’s existing backers were not willing to support the business further. Last week VOLY deleted all its social… Read more »

Deliveroo rider
Business

ROOTED: Deliveroo just shut down in Australia

- November 16, 2022 3 MIN READ

Deliveroo’s UK HQ announced sudden closure of Australian operations The business placed in voluntary administration Deliveroo said it can’t get to profitability without increased investment The company said it’s not worth it Unions says Deliveroo has always been the outlier in Australia’s gig industry   Online food delivery platform Deliveroo has placed its Australian subsidiary… Read more »

Tesla Model
Business

Ex Tesla Australia boss pleads guilty to insider trading

- November 16, 2022 < 1 MIN READ

A former Tesla Motors Australia director, Kurt Schlosser, has pleaded guilty in Sydney’s Downing Centre Local Court to two counts of insider trading over his purchase of shares in a lithium miner. Schlosser acquired 86,478 shares in US-based, ASX-listed Piedmont Lithium Ltd on September 16, 2020, after he find out, in his role as country… Read more »

The Daily Edited
Business

The administrators of monograming fashion brand The Daily Edited are looking for a buyer

- November 14, 2022 2 MIN READ

Monogramed luxury fashion brand The Daily Edited (TDE) is up for sale after sliding into administration last month. KordaMentha Restructuring is seeking Expressions of Interest to purchase the business. Once valued at nearly $14 million when its cofounders, Alyce Tran and Tania Liu, sold a stake in TDE to fashion brand Oroton in 2017, the… Read more »