Business

US investment giant BlackRock makes a $1 billion battery play in Australia, acquiring Melbourne startup Akaysha Energy

- August 16, 2022 2 MIN READ

US investment firm BlackRock is acquiring local battery storage developer Akaysha Energy as part of a deal to spend A$1 billion to develop 1GW (Gigawatt) worth of storage feeding into the National Electricity Market (NEM) in Australia. For perspective, that’s more than the power produced by Australia’s largest coal-fired power station, Origin Energy’s Eraring plant (2,880MW),… Read more »

Atlassian, Mike Cannon-Brookes, Scott Farquhar.
Business

20 years on, Atlassian continues to be unprofitable

- August 5, 2022 3 MIN READ

Australian tech company Atlassian was famously started by Mike Cannon-Brookes and Scott Farquhar using $10,000 in credit card debt. The idea has since turned them into multi-billionaires. The NASDAQ-listed venture recently celebrated its 20th anniversary and this week celebrates posting another annual net loss of more than US$600 million (A860m). Atlassian (NASDAQ: TEAM) posted its… Read more »

GetSwift
Business

Logistics software startup GetSwift is dead in Australia, on life support in the US

- August 5, 2022 3 MIN READ

Former ASX-listed logistics tech company GetSwift has placed its Australian arm in the hands of liquidators, while the publicly listed parent business, GetSwift Technologies, has been suspended from Canada’s NEO Exchange after filing for Chapter 11 bankruptcy protection in the US. The company’s Australian subsidiary, GetSwift Ltd, was placed into liquidation on July 29 with… Read more »

Business

Tech jobs roadmap says a lack of awareness and ‘not fit for purpose’ training are among the biggest issues to future work

- August 2, 2022 3 MIN READ

Australians lack awareness about what tech jobs exist, or how to get into them, and the training pathways to those jobs are not always fit for purpose, according to a new roadmap to solving the sector’s hungry for more workers. The report prepared by the Tech Council of Australia (TCA) and Accenture, and titled Delivering… Read more »

Zareh Nalbandian
Business

Netflix is buying Sydney animation studio Animal Logic, the tech company behind Happy Feet

- July 20, 2022 2 MIN READ

US streaming giant Netflix is planning to acquire Animal Logic, the Australian animation studio behind hit films such as Happy Feet, The LEGO Movies and Peter Rabbit.  The terms of the deal have not been disclosed. Animal Logic CEO and co-founder Zareh Nalbandian was a recent keynote speaker at the City of Sydney’s Visiting Entrepreneur program,… Read more »

Business

Leakproof undies venture Modibodi sells to Swedish company for $140 million

- July 11, 2022 2 MIN READ

Sydney startup founder Kristy Chong has delivered an impressive exit for Modibodi, the “leakproof” apparel company she founded less than a decade ago, with Swedish hygiene and health company Essity acquiring it for $140 million.  Founded in 2013, the fashion tech venture provides leakproof apparel for periods and incontinence including underwear, swimwear, activewear and maternity… Read more »

Business

RBA ups rates by another 0.5%

- July 5, 2022 3 MIN READ

The Reserve Bank of Australia (RBA) has increased rates for the third consecutive month in a row, raising them in July’s meeting by 0.50%. The central bank has now increase rates by 1.25% in three months, taking the official cash rate to 1.35% as it moves aggressively to try and bring inflation under control. The… Read more »