It’s Wednesday. Here’s what you need to know in Australian tech today.
1. Freelancer is cash flow positive! It’s a significant milestone in a tech company’s life – the upfront development costs of building an offering like this can be huge and it can take years for them to get into the black. Freelancer posted positive operating cash flow of $1 million for the first quarter of this year. Full story is here.
2. Startups fail, it’s just what happens. They’re young, risky businesses. It’s the nature of the game. Plenty of now humungous tech companies tell tales about how they were once on the brink of crashing into oblivion. A lot of the time it’s money issues, team issues or the product just isn’t right. Timing is also a big one. You can have the perfect team, the ideal offering and plenty of cash but the market just isn’t ready for you. Today Fishburners-based startup Gamurs recounts how they were almost a statistic earlier this year but a last ditch round of capital extended their runway, for now. Here’s the story.
3. Does Atlassian co-founder Mike Cannon-Brookes have an epic new pad in Sydney’s Eastern Suburbs? The AFR is reporting this morning that MCB was the mystery buyer who dropped $12 million on a Centennial Park estate, setting a suburb record. We’ve reached out to the tech mogul for confirmation.
4. Well that backfired. In what should be a lesson for companies when thinking about their online marketing strategies, supermarket giant Woolworths is copping it on social media today after launching an online ANZAC-inspired campaign which many are saying was bad taste. Senator Michael Ronaldson, Minister for Veterans Affairs, demanded Woolworths take the site down and the company has apologised but it wasn’t before the campaign was hijacked with posts like this.
— Drew White (@andrewwhiteau) April 14, 2015
5. Find the best country for your startup. With the Startmate class of 2015 currently “colonising” San Francisco it’s probably a good time to figure out where the best place is to base your startup.
Handy new website Startup Stats allows you to compare locations by looking at factors like startup visas, internet coverage and speeds, income tax and even the cost of beer. Australia is listed as “easy” but if your startup is reliant on cheap beer, Romania is the place to launch where beer is $0.67 compared to $8 Down Under. It’s all here.
Have an awesome day! I’m on Twitter.