Murray Hurps
Business

Startup Muster needs your views by September 9 – and 10 things you should now about it

- September 5, 2024 3 MIN READ

The annual Startup Muster survey has extended its response deadline until this Monday, September 9. Already more than 150,000 questions have been answered in the free, independent report, which shines a light on the progress of Australian startups, as well as the challenges and opportunities they face. UTS Startups director of entrepreneurship Murray Hurps, the driving… Read more »

Business

US private equity giant Blackstone pounces on Sydney data centre scaleup AirTrunk in monster $20 billion deal

- September 5, 2024 2 MIN READ

Eight-year-old Sydney cloud data centre startup AirTrunk is set to be acquired by US private equity firm in a deal worth a reported $20 billion. The Financial Times reports that the cloud computing and artificial intelligence business, founded by CEO Robin Khuda, who immigrated to Australia from Bangladesh when he was 18, has been part… Read more »

Woman sitting next to a policeman in his car holding a microphone
Business

Australian workers now have the right to disconnect, but what really matters is how their bosses react

- August 26, 2024 3 MIN READ

From today, Monday August 26, many employees in Australia get a new right, called the right to disconnect from work. This entails the right to refuse to read or respond to work-related calls, texts and emails outside their working hours, unless that refusal is unreasonable. The Fair Work Commission says what will matter is whether… Read more »

Redflow
ASX

ASX-listed battery company Redflow handed to administrators after failing to find backers

- August 26, 2024 2 MIN READ

Brisbane battery company Redflow has been placed in voluntary administration and its shares suspended from trade just weeks after unveiling plans for a 5 MWh project with Queensland’s energy generators, Stanwell Corporation. Richard Hughes and David Orr from Deloitte were appointed voluntary administrators of Redflow and three subsidiaries by its board on Friday, not long… Read more »

Business

Corporate regular ASIC wins its compliance fight with crypto exchange Kraken

- August 23, 2024 3 MIN READ

A margin trading product offered by cryptocurrency exchange Kraken failed to meet its legal obligations under Australia’s Corporations Act, a Federal Court judge has ruled. The judgment hands a rare win to corporate regulator the Australian Securities and Investment Commission (ASIC) amid an ongoing focus on regulatory compliance in the crypto sector. Justice John Nicholas… Read more »

WiseTech Global founder and CEO Richard White
ASX

WiseTech Global’s FY24 results just made founder Richard White a billionaire all over again, and again

- August 22, 2024 3 MIN READ

Shares in logistics software company WiseTech Global are on a fresh tear today, setting new records following the company’s FY2024 annual results on Wednesday. Founder and CEO Richard White is already a billionaire thanks to the success of Sydney-based WiseTech, which the former AC/DC guitar technician launched in 1994 by writing code for Australian freight… Read more »

Will Smith and Sam McDonnell
Business

Mating call: No code process digitisation platform Sitemate acquires Nomad Fleet for $2 million

- August 20, 2024 2 MIN READ

Sydney software proptech Sitemate has acquired fellow Startmate alumni software startup Nomad Fleet in a deal worth $2 million.  Surprisingly, it’s the first time in Startmate’s 13-year history that two of the 250 startup to emerge from the accelerator program have teamed up in an M&A deal. Both Sitemate cofounder Hartley Pike and Nomad founder Will… Read more »

Photo: Booktopia
Business

Shareholders lose out as digiDirect owner buys Booktopia

- August 19, 2024 3 MIN READ

Shant Kradjian, the owner of consumer electronics retailer digiDirect, has acquired the assets of failed ASX-listed Booktopia in a deal that will bring the online bookseller back online and out of administration. The sale price, which has not been disclosed, will not see a return to shareholders. Booktopia racked up debts of around $60 million,… Read more »

Christy Laurence
Business

Linktree snaps up Sydney social media scheduling startup Plann

- August 16, 2024 2 MIN READ

The acquisition hunger of cashed-up Australian tech companies has continued with link-in-bio platform Linktree scooping up social media scheduling platform Plann for an undisclosed sum. Founded in 2016 by former ad exec Christy Laurence, Plann was named Startup Daily’s Startup of the Year. She left her corporate job after suffering a brain injury. Initially told… Read more »

Business

EV charger maker Tritium survives after Indian buyer bags $45 million bargain

- August 12, 2024 2 MIN READ

Brisbane-based electric vehicle charger manufacture Tritium will live, but under new Indian owners. New Delhi-based EV charger manufacturer Exicom has scored a bargain, snapping up the rival business, at one stage worth $2 billion before it was handed to administrators in April, for $45 million (US$30m). The acquisition will save around 300 Australian jobs, but will… Read more »

Business

Cannon-Brookes, Main Sequence and Blackbird-backed solar panels startup SunDrive sheds jobs, changes leadership

- August 6, 2024 2 MIN READ

A startup developing cheaper, copper-based solar panels, and backed by Australian tech royalty, has shed jobs and changed its executive leadership as part of a major restructure of the business  SunDrive’s investors include Atlassian founder Mike Cannon-Brookes, VCs Blackbird and Main Sequence, the federal government-backed Australian Renewable Energy Agency (ARENA) and Clean Energy Finance Corporation,… Read more »