Melbourne software company Culture Amp has followed in the footsteps of Atlassian, Mr Yum and several US tech giants in shedding staff, with around 90 people finishing up next week. With around 1000 working for the HR platform, the cut amounts to around 9% of the team. Founder and CEO Didier Elzinga wrote to his… Read more »
Sydney-based startup MilkRun made a big splash with its promise to deliver groceries within ten minutes, raising more than A$85 million from some of the biggest names in Australian venture capital, including Atlassian billionaire Mike Cannon-Brookes. MilkRun’s co-founder and chief executive Dany Milham had already found success with fast-delivering mattress company Koala. Less than a… Read more »
The dream is over for rapid delivery startup Milkrun, which shuts down this week after 18 months of operations, having raised $86 million in the last two years. Cofounder Dany Milham emailed staff today after the Easter break to say “we have made the difficult decision to wind down the business, and as a result,… Read more »
If you’re after some gourmet food at a discount over Easter, CoLab’s new administrators, EY, are offering 30% off the marketplace’s best sellers until 11 April – 5 days after creditors will meet in Sydney to hear more about the financial status of the business this Thursday. The meal home delivery marketplace, which raised $3… Read more »
Melbourne environmental consultancy, Lifecycles has launched a program to help organisations and startups carve clear pathways to building sustainable products. The consultancy does life-cycle assessments (LCA) and shares methods for analysing the impacts of products and services. Assessment results help companies maximise environmental innovation, minimise negative consequences, and determine the best way to prove and… Read more »
Startups across the US, UK and Australia have had their fears confirmed that banking will feel much more ‘traditional’ in the wake of the Silicon Valley Bank collapse, potentially stifling innovation and ambition. The collapse and aftermath serves as a reminder that we need greater global banking competition, particularly in the technology industry, to serve… Read more »
Tech community pioneer Innovation Bay has partnered with collaboration platform Edda as it launches in Australia and New Zealand. Edda is a software tool that helps professional investors collaborate more easily and effectively, making it easier for people to choose investments, manage portfolios, and sell them with more transparency and efficiency. Innovation Bay’s VC investor community,… Read more »
Kantar BrandZ Top 40 Most Valuable Australian Brands top US$125bn in brand value Banks (37%) and Retail (24%) are the dominant categories in the Top 40 Australians are rewarding brands that are meaningful and relevant Design platform Canva is now the country’s second most valuable brand, behind the Commonwealth Bank of Australia, according to the… Read more »
Australian small business retailers and manufacturers are sitting on potentially significant cash windfalls, but there may be a price to pay. Research from inventory management software provider, Unleashed, shows that many businesses have overstocked by an average of $231,700 due to the supply chain issues caused by COVID-19 delays. Aussie small businesses are drowning in… Read more »
Australian businesses are in the midst of a digital skills crisis with new research by RMIT Online and Deloitte Access Economics revealing the digital skills gap is costing Aussie businesses a whopping $3.1 billion annually, or $9 million a day. While closing the current digital skills gap would require a substantial investment of $1.5 billion.… Read more »
Hospitality ordering and payments platform Mr Yum has cut another 40 jobs, just seven months after shedding 40 more jobs – 17% of its then global workforce. CEO and cofounder Kim Teo posted the email she sent to staff today on LinkedIn saying they’d made “the strategic decision to get to profitability with our current… Read more »
Russia’s invasion of Ukraine and rising interest rates dampened merger & acquisition (M&A) deals in the first half of 2022, but even as company valuations fall, the size of transactions is growing according to William Buck’s annual Dealmaking Insights Report 2023. In 2022, the aggregate value of M&A deals in Australia increased 59% on 2021… Read more »
Amazon is laying off another 9,000 employees, with senior management citing “the uncertain economy in which we reside”. The cuts will come from its cloud business Amazon Web Services (AWS), streaming platform Twitch, and its advertising department. This latest round of layoffs comes just two months after Amazon said it would cut more than 18,000… Read more »
The Santa Clara, California-based Silicon Valley Bank (SVB) has collapsed. This is the second-largest banking failure in US history and the largest failure since the Global Financial Crisis. The US government has stepped in to protect depositors. The government will not bail out SVB. Shareholders are not protected. The deposit protection is funded by a special impost… Read more »
Scaleup community Tank Stream Labs have teamed up with Pinstripe Media to expand its reach to a global audience. Tank Stream Labs is one of Australia’s original technology co-working spaces that fosters innovation, collaboration, and entrepreneurship for founders, industry leaders, scale-ups, and high-growth tech companies. After launching a range of service offerings in 2022 for… Read more »
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