March 7, 2016 0 Comments
Sydney-based hipages, Australia’s leading marketplace for tradies, has acquired business directory StartLocal for an undisclosed amount. Startlocal was founded in 2008 and has previously received an undisclosed amount of funding from venture capital firm Right Click Capital. StartLocal has a database of over 180,000 local businesses and 600,000 monthly visitors, all of which will be added to hipages. According to hipages, the integration is good fit with its existing platform and gives the company “an opportunity to expand into other fields in the future.” The acquisition aims to further strengthen hipages’ leadership in Australia’s booming on-demand market.
You can read about the acquisition here.
November 3, 2015 0 Comments
July 7, 2015 0 Comments
Netccentric enjoyed a successful debut on the Australian Securities Exchange (ASX) yesterday. The shares in the Singapore-based digital media company gained 15% in value on the first day of trading and closed at 23 cents or three cents higher than their issue price. From an initial minimum target of A$7.5 million, the company raised A$12.5 million. Founded in 2006 by Timothy Tiah and Cheo Ming Shen, Netccentric is the company behind blogging pioneer Nuffnang, as well as ChurpChurp, Reelity.tv, Ripplewerkz and Dayre. In 2014, the company hit over A$11 million in revenue and enjoyed a 400% rise in profits compared to 2013. The money raised from the IPO is actually the company’s first external capital and will be used to expand the business specifically in Asia and invest in new product development.
Right Click Capital acted as the corporate advisor on the Netccentric (ASX:NCL) IPO.
May 12, 2014 0 Comments
Australian companies continue to attract investment
Australian technology companies are continuing to raise funds in 2014 with hipages Group the latest company this week to join the likes of Campaign Monitor, Siteminder, SmartSparrow and SocietyOne in raising capital from industry and professional investors. hipages are aiming to take the stress out of finding a trusted tradie in Australia. The Australian building and home improvement market generates over $96bn of revenue a year spread across ~240,000 trades businesses in Australia, and hipages look set to continue to disrupt a large and growing market. The $6m capital injection came from Right Click Capital, Ellerston Capital, Australian Ethical Investment, KTM Capital, and Baillieu Holst as hipages plan to scale their network of 500,000 consumers and over 40,000 registered tradies.
Australian companies are continuing to innovate at a rate of knots, attracting the interest of global markets, investors and strategics, making it the seventh largest country by deal value in Internet DealBook’s 2013 Annual Report. How long will it be until we see the next billion dollar Australian tech exit?
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