5 things you need to know in Australian tech today

Tech leaders aren’t happy. Photo: Mark Nolan/Getty

Here’s what you need to know in tech today.

1. The Commonwealth Bank is moving into the Australian Technology Park. A consortium between the bank, led by the Mirvac Group won the bid for the 14 hectare site near Sydney’s CBD and have plans to turn it into a business park. The startup community had wanted the land to go to Atlassian to be turned into a technology hub. Now, they’re fuming.

2. Australia needs to move beyond envy if we want to be innovative. Tally poppy syndrome is holding Australia back, assistant innovation minister Wyatt Roy said in an interview before the release of his policy hack policies.

3. The agency behind the disastrous #Yourtaxis social media campaign has been fired. The Victoria Taxi Association has fired the agency after the hashtag was co-opted by disgruntled customers. The failure comes after similar misses by Qantas with #QantasLuxury and the New York Police with #myNYPD.

4. OzForex is changing its name to go global. Thinking the “Oz” is holding them back in the UK and US, the company is rebranding as OFX. The move comes just months after new CEO Richard Kimber took the reins.

5. We think we know what Atlassian might be worth. A quick calculation by Tomasz Tonguz, a San Francisco-based investor at Redpoint Ventures, has valued the soon to be floated Australian tech company at $5.3B. See his analysis here.

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