ASX Archives

ASX

ASIC stops Dubber’s CEO and a lawyer from leaving Australia over company’s missing $26.6 million

Simon Thomsen - March 22, 2024 2 MIN READ

The Australian Securities and Investments Commission has stepped in to prevent ASX-listed Dubber’s CEO and cofounder, Steve McGovern, and lawyer Mark Madafferi, principal of North Melbourne law firm, Christopher William Legal, from leaving the country as investigations continue into $26.6 million missing from the business. The corporate regulator applied to the Federal Court on March… Read more »

ASX

Investor Alex Waislitz comes to Dubber’s rescue with $5 million loan as hunt for missing millions continues

Simon Thomsen - March 18, 2024 2 MIN READ

ASX-listed voice data company Dubber is borrowing $5 million in bridging finance from existing investor Alex Waislitz to solve a cash flow crisis after more than $26 million of the company’s funds went missing. Tiga Trading, a company associated with the Melbourne billionaire’s Thorney Investment Group, is stumping up the cash as a loan secured… Read more »

ASX

Kogan.com cofounder David Shafer offloads $16 million worth of stock

Simon Thomsen - March 12, 2024 2 MIN READ

Kogan.com chief financial officer and chief operating officer David Shafer has sold two million shares in the online retailer he cofounded with Ruslan Kogan. Shafer sold at $8 a share on March 7, worth $16 million, taking his stake through Shafer Corporation to below the 5% threshold of being a substantial shareholder in the ASX-listed company.… Read more »

ASX

Dubber CEO suspended, its ASX-listed shares too, as company hunts for missing $30 million

Simon Thomsen - March 4, 2024 2 MIN READ

ASX-listed voice data company Dubber is on the hunt for more than $26 million in missing funds, with the company’s CEO and cofounder, Steve McGovern, suspended, along with its shares (ASX: DUB) as investigations get underway. The issue came to light as part of the audit review for its half-year accounts to December 2023. Dubber… Read more »

ASX

Superloop knocks back Aussie Broadband’s $466 million takeover bid as ‘opportunistic’

David Braue - February 29, 2024 3 MIN READ

Expanding internet service provider Aussie Broadband is weighing its options after fibre infrastructure operator Superloop rejected as “opportunistic” a proposed acquisition that Aussie said would have created a serious market rival to “incumbents” Telstra and Optus. A merger of the companies – which would have created a “scale player” providing a wider product offering to… Read more »

ASX

Kogan.com shares jump as half-year results turn from red to black, despite ongoing sales and revenue falls

Simon Thomsen - February 26, 2024 3 MIN READ

Online retailer Kogan.com is back in the black and will pay its first dividend in three years after posting a net profit of $8.7 million for the half-year (1h24) to December 31. It’s a turnaround of more than $30 million on the $23.8 million half-yearly loss 12 months ago and comes despite a 9.9% fall… Read more »

ASX

WiseTech’s results and share price are a giant F You! to the short-sellers who predicted the software giant’s death in 2020

Simon Thomsen - February 23, 2024 3 MIN READ

About this time four years ago, China-based analyst and short-seller J Capital took its third stab at ASX-listed WiseTech Global with a report headlined “WiseTech may be the first corporate death from Covid19”. This week the logistics software company (ASX:WTC) was very much alive and kicking with its share price hitting an all-time high, above $90,… Read more »

ASX

Mike Cannon-Brookes hands over $600 million in cash in AGL fight

Simon Thomsen - May 18, 2022 2 MIN READ

Tech billionaire Mike Cannon-Brookes has spend $650 million via his family investment firm, Grok Ventures, for his stake in AGL, including $600 million in cash and $50 million in debt. The Atlassian co-founder and co-CEO is waging a public campaign to stop a demerger plan for Australia’s biggest energy company. While the initial stake was… Read more »

ASX

The Bachelor star Sam Wood sells his fitness app for $71 million

Simon Thomsen - May 10, 2022 2 MIN READ

It’s been a big week for former The Bachelor star and fitness advocate Sam Wood, who last week welcomed the birth of his third child and sold his fitness app ‘28 by Sam Wood’ in a $71 million (US$50m) deal with Melbourne tech company myDNA. Wood, 41, had his third daughter, Harper, with wife Snezana… Read more »

ASX

Year-old ANU startup Vai Photonics navigates $40 million acquisition deal

Simon Thomsen - May 5, 2022 2 MIN READ

Vai Photonics, a Canberra startup spun out of Australian National University last year to help vehicles navigate independently of GPS, has been acquired by Sydney tech company Advanced Navigation in a deal believed to be worth up to $40 million. Founded by physicists Lyle Roberts and James Spollard to commercialise their research, Vai Photonics has a… Read more »

ASX

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

Simon Thomsen - 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

Simon Thomsen - 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 »

ASX

Telstra bets $50 million on streaming service Fetch for 51% stake

Simon Thomsen - May 2, 2022 2 MIN READ

Telstra has pinned its ambitions in home entertainment on content aggregation service Fetch in a deal worth $50 million for a 51% stake. The deal values the 12-year-old venture at $100 million and will see the telco shift Telstra TV customers onto Fetch. Like Apple TV Fetch is a set top box, available in two… Read more »

ASX

BLOOMING MARVELLOUS: Gifting startup LVLY sells for $35 million with global plans

Simon Thomsen - April 26, 2022 2 MIN READ

Melbourne flower delivery startup LVLY has been acquired by Malaysian-based Limitless Technology for around $35 million as the e-commerce group expands its footprint in Australia. The deal will see co-founders Hannah Spilva and Verity Tuck, who launched the online flowe gifting venture in 2015, pocket around $20 million. Spilva will join the Limitless board, with… Read more »

ASX

Canberra software startup Instaclustr is being acquired by Nasdaq-listed US tech giant NetApp

Simon Thomsen - April 8, 2022 3 MIN READ

Canberra tech scaleup Instaclustr is being acquired by US software giant NetApp. The terms of the deal have not been disclosed, but it’s believed to be worth more than $500 million. The exit comes 9 years after the cloud-based Internet solutions platform was co-founded by Ben Bromhead, Adam Zegelin, Peter Lilley, and Doug Stuart ANU,… Read more »