It’s Wednesday. Here’s what you need to know in Australian tech today.
1. This founder spent a decade building a startup — and just sold it for $575 million and he gets to keep every penny. Dating website PlentyOfFish got acquired by Match Group, an IAC/InterActive subsidiary that recently announced plans for an IPO later this year. Epic pay day for founder, 36-year-old Markus Frind who has bootstrapped the company for 10 years. Full story is here.
2. This chart shows the insane growth of Netflix in Australia. The video streaming service is sweeping up marketshare across Australia, growing by another 40% in June. Full story is here.
3. This company is working on speeding up download rates to make Netflix faster. Today, NexGen is reverse listing on the ASX after it completed a bunch of independent tests to prove its tech, which optimises data transfers, actually works. The testing was part of a due diligence process. There’s more here.
4. After listing on the ASX last week, Aussie startup Reffind has signed Qantas as a customer. The airline will use the employee platform to improve its internal employee referral processes.
5. The Queensland government is focussing on startups. It will allocated $24 million from the state budget to establish the Startup Queensland program which aims to boost the number of early-stage companies operating in the state. “Startups can reshape entire industries through technology and business model innovation,” Queensland premier Annastacia Palaszczuk said. “They are vital to job creation and prosperity – in fact studies have found that each technology job created leads to five additional jobs in other sectors.” There’s more here.
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