Welcome to Tuesday:
1. Controversial US startup Rentberry is coming to Australia. The San Francisco company just raised $3.6 million to fund its international expansion plans, with money coming from Australian and Chinese investors, as well as American VCs. The platform, which now operates in 3,600 cities in the USA, has attracted criticism for facilitating bidding wars between rental applicants in high demand locations. Read more here.
2. TechnologyOne’s shares have plunged more than 13%. The Brisbane company’s chief executive revealed to the ASX this morning that profit growth would not reach the previous forecast of 10% to 15%, but would be more like 7% to 9%. The company’s consulting arm has been struggling to recover from a bad first half. Read more here.
3. Melbourne startups are accusing an accelerator of taking their money and not providing any services. The Australian reports that several startup founders are accusing One10’s Geoff Gourley of accepting membership fees but not providing the mentorship and other support that was promised. Gourley admits there have been some operational issues at One10 due to staff departures and an organisational restructure.
4. Philanthropist Laura Anderson has been named as LaunchVic’s new chair. Anderson, who already chairs the Melbourne Fashion Festival, SVI Global and the Good Foundation, replaces former Australia Post boss Ahmed Fahour who stepped down in February. More here.
5. ANZ Bank has acquired an Australian startup that predicts property prices. iTnews reports data science firm REALas, which will continue to operate independently, claims to have an algorithm that can predict real estate prices within 5% accuracy.
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