The federal government has launched a review into Australia’s research and development performance but may not live to see the result. The year-long review strategic review will be led by Robyn Denholm, chair of Telsa and the Tech Council of Australia, founder of Wollemi Capital, and operating partner at VC fund Blackbird. The review was announced… Read more »
Comparison fintech Finder has acquired cashback platform Grow My Money for an undisclosed sum. Founder Pascale Helyar–Moray originally launched Grow My Money as Super-Rewards in late 2019, helping people save for the retirement with a cashback program from shopping. She subsequently expanded into mortage repayments, transforming the fintech into its current form and brand People can shop… Read more »
The dream is over for drone delivery startup Swoop Aero, with creditors voting on Tuesday to place the venture capital-backed business in liquidation. Swoop raised more than $26 million in VC funding, with CSIRO-backed Main Sequence, impact fund Giant Leap, US investor In-Q-Tel, the defence tech investment arm of the CIA, Artesian, Folklore Ventures, Right Click… Read more »
Scam ads are lucrative for scammers, but the money they steal from vulnerable people is also delivering plenty of cash to Mark Zuckerberg and his social media company Meta. The business behind Facebook, Instagram and WhatsApp has been named one of five “winners” in consumer group CHOICE’s annual Shonky Awards for trash products. The CHOICE… Read more »
Sydney retail technology startup Hivery was handed to administrators last week after nine years and nearly $63 million in venture capital. The books for Red Analytics, trading as Hivery, were handed to Christopher Johnson and Andrew McCabe at Wexted Advisors in Sydney on November 6. A first meeting of creditors is scheduled for Friday, November… Read more »
The Tech Council of Australia (TCA) is hoping to address the industry’s “women problem” by launching a certification framework for the sector to address equity, diversity and inclusion (EDI) amid lingering tension over the organisation’s response to former board member Richard White. The TCA is gathering in Melbourne this week for the three-day National Tech… Read more »
David Fairfull, the bankrupt founder and former CEO of marketing startup Metigy, appeared in Sydney’s Downing Centre Local Court on Friday to face six charges following an ASIC investigation into the failure of the company. Fairfull was charged with five counts making false and misleading statements contrary to the Corporations Act, plus one count of… Read more »
Australian and international technology companies are among more than 1,200 organisations which did not pay tax in the 2022-23 financial year, according to an Australian Taxation Office (ATO) report. The ATO’s tenth corporate tax transparency report, released last Friday, showed around 30% of the 3,985 entities that lodged tax returns for 2022–23 did not pay any… Read more »
Crowdfunding platform Equitise has been handed to voluntary administrators after cofounder Jonny Wilkinson failed in his own attempts to raise a $500,000 bridging round. Administrators Damien Mark Hodgkinson and Mohammad Mirzan Bin Mansoor from Sydney firm Olvera Advisors were handed the books on October 31. An initial creditor’s meeting will be held on November 12.… Read more »
Q1 FY25 revenue of US$1.19bn, up 21% Subscription revenue of US$1.13bn, up 33% US$123.8m net loss, up 300% Operating loss of $32m FY25 revenue growth expected at 16.5-17%. $1.5bn share buyback planned Atlassian beat its own revenue growth predictions in the first quarter of the new financial year (Q1, FY25), but its losses also continue… Read more »
WiseTech Global’s billionaire former CEO Richard White may be on leave from the company he founded 30 years ago, but he’s keeping busy on the business front, increasing his stake in ASX-listed Vinyl Group via a deal involving another one of his investments, the music licensing startup Songtradr. White stepped down as WiseTech’s boss last… Read more »
WiseTech founder Richard White has stepped down as CEO of WiseTech Global, resigned from its board and also as a director of industry lobby group the TechCouncil of Australia. The billionaire fell on his sword late on Thursday afternoon following a fortnight of media reports about his private life, including legal action, settled on Monday,… Read more »
Multi-billionaire Richard White’s early career was famously rock n roll as a guitar technician for AC/DC, but over the past month his life story has become more Shakespearean, with a sprinkling of Streisand effect, that’s taken the WiseTech Global founder from the business section to front pages amid lurid details of his personal life. It… Read more »
The former CEO of the company behind defunct Queensland digital asset exchange Mine Digital has been charged with criminal fraud in the wake of an investigation by corporate regulator the Australian Securities and Investment Commission (ASIC). Grant Colthup, who was CEO of ACCE Australia Pty Ltd, appeared in Ipswich Magistrates Court on Monday charged with… Read more »
Disrupt Radio, the Melbourne media startup that launched in 2023 with a focus on entrepreneurship, but ran out of money to pay its staff within 12 months, is hoping to secure enough funding to return to live broadcasting in November. The Australian reports that founder Benjamin Roberts said negotiations for new capital are ongoing. “In… Read more »
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