Here’s what you need to know.
1. Dick Smith creditors have put the electronics retailer into liquidation. But the shareholders and unsecured creditors are unlikely to get their money back.
McGrathNicol, administrators of the failed electronic retailer, say the banks will get something, but there’s little prospect of anything for unsecured creditors including shareholders and those with Dick Smith gift cards. Chris Pash has more.
2. Tech Sydney has nearly reached its fundraising target. Just over a week into a month-long crowdfunding campaign to raise $500,000 to kick-start Tech Sydney, the venture has already raised over $420,000.
That amount now makes it the largest not for profit group campaign ever on Pozible, according to the platform’s co-founder Rick Chen. With three weeks still to go, the record looks certain to go even higher. See the campaign in full here.
3. Invoice2go has new Sydney digs. The invoicing tool opened shop in North Sydney last week and announced some new milestone to celebrate the event.
- Since 2002, Invoice2go now has over 200,000 users worldwide who send over a million invoices every month.
- The business has over $1 billion in billings every month, with Australian users alone billing more than $200 million per month.
- Invoice2go has raised over $50 million in funding from investors such as Accel and Ribbit Capital, most recently raising $15 million through a Series C funding round in late 2015.
- The team now consists of over 100 talented individuals across Australia, Redwood City, California, and Jakarta.
4. This Aussie app could be the world’s first AI business advisor. BRiN, a newly launched smartphone app is promising to be the world’s first artificially intelligent business advisor by the end of this year. As it is, the app offers business advice via video content but founder Dale Beaumont expects the app will be powered by AI by the end of the year. Read more here.
5. iSelect will expand into new categories following tech overhaul. iSelect is investing millions to upgrade its core technology platforms to allow it to launch its personalised comparison and expert advice services in new categories more quickly. The AFR has more.