Business Archives

$9.5 million, 4 cities and 7 years later, Kiki’s London launch has generated $18,700 in revenue since July

Tegan Jones - November 25, 2025 5 MIN READ

Four months after entering the UK market, controversial short-term subletting startup Kiki is following a familiar pattern as it finds its footing in London. Manual processes powered by Instagram, limited revenue, parties, and growing costs (including visa sponsorship for newly hired staff) are already defining Kiki’s local operations. Meanwhile, the startup is publicly projecting confidence… Read more »

Business

South Asian Australian founders are a $1.6 billion startup powerhouse

David Adams - November 24, 2025 2 MIN READ

South Asian Australian founders have raised at least $1.6 billion in investment through to 2025, in fields as varied as artificial intelligence, mental healthcare, and sustainability, according to a new report celebrating the local startup sector. The figure demonstrates the growing influence of South Asian founders, says Sandeep Varma, whose SAARI Collective published a list… Read more »

ASX

Canadian authorities ban GetSwift’s disgraced founders, Bane Hunter and Joel Macdonald, for life

Simon Thomsen - November 24, 2025 6 MIN READ

Failed logistics startup GetSwift’s cofounders, Bane Hunter and Joel Macdonald, have been banned from being company directors in Canada for life. The bans come four years after the pair moved to North America as their ASX-listed business disintegrated amid legal action and relisted in British Columbia. The BC Securities Commission (BCSC) last month placed permanent… Read more »

Business

Decade-old food redistribution startup Yume is up for sale after hitting liquidation

Simon Thomsen - November 24, 2025 3 MIN READ

Food redistribution platform Yume Food has been placed in liquidation, with the 10-year-old social impact startup and its assets being put on the market. Founder Katy Barfield and the Yume board handed the keys to Teneo Financial Advisory Australia as Liquidators on November 18. Yume’s digital trading platform generates additional revenue for food manufacturers by… Read more »

Business

Pay.com.au hits $633 million valuation after $25 million raise

Startup Daily - November 24, 2025 2 MIN READ

Melbourne fintech pay.com.au has raised $25 million as it looks to head offshore and open in the US. The round was led by Morgans Corporate with support from Wilson Asset Management, Thorney Group, and Ophir. Another $28 million in existing shares also changed hands in a secondary sell-down. The deal valued the payments and rewards… Read more »

Business

Remarkable alumni ByStorm Beauty lands $30,000 in government-backed women founder program

Simon Thomsen - November 20, 2025 3 MIN READ

Disability worker Storm Menzies, founder of accessible makeup tools startup ByStorm Beauty has won the Kickstarter Challenge, taking home $30,000 in equity-free funding. Four runners-up also took home $7,500 for their startups following the grand final at Parliament House in Canberra today. The five-year-old Kickstarter Challenge, developed by Enterprising ME and run in conjunction with The… Read more »

Business

Startmate’s Michael Batko sells his side hustle, Startup Striders, thanks to a LinkedIn call out

Tegan Jones - November 20, 2025 3 MIN READ

Currents, the Gold Coast startup community-building group backed by Torus Ventures, has acquired Michael Batko’s Startup Striders. The purchase price was undisclosed, and the deal was completed entirely in cash. Startup Striders began in 2023 as a Saturday morning run and coffee meetup in Sydney. Since then it has become a large community with more than… Read more »

Business

CSIRO cuts 350 research jobs because government funding has flatlined under Labor

Tom Williams - November 20, 2025 3 MIN READ

Australia’s national science agency CSIRO says it will cut up to 350 more research jobs after already removing over 800 positions in the past 18 months amid rising costs and stagnant funding. The news comes just days after the heads of CSIRO’s digital and manufacturing research arms — which have both seen job losses — left… Read more »

AI/Machine Learning

Culture Amp cuts 60 jobs as AI focus grows

Simon Thomsen - November 20, 2025 2 MIN READ

Melbourne software unicorn Culture Amp has shed another 6% of its workforce, with the loss of around 60 jobs. The employee engagement platform cut 9% of its workforce – 90 roles – in 2023, so the latest losses suggest the business grew back to around 1000 employees over the last 2.5 years. Previously 36 roles… Read more »

Business

All’s fine in New York: Blackbird-backed Kiki Club pays $224,000 to settle illegal operation charges in NYC

Simon Thomsen - November 20, 2025 4 MIN READ

New Zealand startup Kiki Club’s move from Sydney to New York generated just $76,000 in revenue over two years, but has cost them three times that figure in fines for operating illegally there. Kiki Club paid US$152,000 (A$224k) to settle charges by the Mayor’s Office of Special Enforcement (OSE) that it violated New York City’s… Read more »

Business

Founder mode = worker mad: Sydney startup boss cops LinkedIn hammering for praising San Francisco’s late night hustle culture

Denham Sadler, Information Age - November 19, 2025 3 MIN READ

A Sydney startup founder’s post about “fully adopting” a Silicon Valley-style work culture has sparked a debate about long hours in tech and whether work-life balance clashes with ambition. After arriving in San Francisco two weeks ago, Lyra co-founder and COO Anh Dao posted that he had experienced a “wake-up call” on work culture, and… Read more »

Business

What to look for if the AI bubble is about to burst

Alex Dryden - November 19, 2025 3 MIN READ

The global investment frenzy around AI has seen companies valued at trillions of dollars and eye-watering projections of how it will boost economic productivity. But in recent weeks the mood has begun to shift. Investors and CEOs are now openly questioning whether the enormous costs of building and running AI systems can really be justified… Read more »

ASX

ASX-listed Airtasker raises another $10 million

David Adams - November 17, 2025 2 MIN READ

Freelancer marketplace Airtasker has completed a $10 million equity capital placement led by US radio and podcast giant iHeartMedia, powering the Australian company’s overseas marketing effort. The deal will help Airtasker — the Sydney-based platform connecting customers to freelance gardeners, bartenders, accountants, and beyond — compete for publicity against global rivals like Upwork and Fiverr. The… Read more »

AI/Machine Learning

AI data centre startup Firmus valuation trebles to $6 billion in just 8 weeks after raising another $500 million

Simon Thomsen - November 14, 2025 2 MIN READ

Artificial intelligence data centre startup Firmus Technologies has trebled its valuation to $6 billion after raising another $500 million, just two months after banking $330 million in a deal with Nvidia. After setting out to build an AI data centre in Tasmania, the Singapore-based company announced a $73.3 billion plan, Project Southgate, with AI infrastructure also… Read more »

Business

Gabby and Hezi Leibovich-backed Fingertip acquired by rival Linktree – and will close

Simon Thomsen - November 13, 2025 2 MIN READ

Just 18 months after serial entrepreneurs Gabby and Hezi Leibovich, teamed up with two young founders keen to take on Linktree with their own digital landing page startup, they’ve gone from trying to beat them to joining them. Linktree has acquired Fingertip, a Melbourne platform helping freelancers, creators, and small businesses manage and grow their… Read more »