1. Guvera’s IPO is a no go. After clearing ASIC’s hurdle with a revised prospectus, Queensland-based music streaming service Guvera’s controversial $80 million float was blocked late on Friday, a move that creates enormous challenges for the continued viability of the company.
The ASX says its “specific reasons remain confidential”, while Guvera said on Friday that it “is currently reviewing its legal options and obligations”.
The company is meeting with the ASX on Tuesday, but it’s for briefing purposes only. There’s no right of appeal, except, perhaps, through the courts.
The company will need to find cash from somewhere soon, having lost $81 million last financial year, and expecting to post a similar figure for this year.
The details on Friday’s decision are here.
2. Is “Google it” the solution for everything? Yes and no. Apparently restaurateurs are Googling their customers to find out if they’re important, and we have to say we where impressed with the efforts Sydney’s Old Clare Hotel went to when an American journalist turned up, having wondered on Twitter where he could watch the NBA.
— Brett Michael (@thecajunboy) May 30, 2016
A study by OpenTable found 69% of Australians were OK with the idea of restaurant owners Googling them after making a reservation.
Meanwhile, we tried using Google’s reverse image search to solve the big political mystery of the day – who is the tradie in the Liberal Party ad? The Libs say he’s real, despite all the #faketradie social media. So we searched for him and as they say in the classics, you won’t believe what happened next…
3. Ethereum, Bitcoin’s experimental younger brother, was hit with a a $US50 million hack over the weekend. That also effects the DAO – the Decentralised Autonomous Organisation – a hugely successful organisation that manages its investors’ capital, with 11,000 people in the Ethereum community tipping in more than $150 million in what’s arguably largest crowdfunding campaign ever. If all that has you scratching your head, here’s a three-minute to guide to what’s going on with the latest decentralised digital currency hack.
4. When it’s working, Telstra’s network speeds are the fastest. The State of Mobile Networks report has checked out speeds on Australia’s three biggest mobile operators with 15 million tests over three months between February 1 and April 30 and despite its downtime, Telstra came out tops with an average download speed of 17.09 Mbps, followed by Optus at 12.87 Mbps and Vodafone with 12.79 Mbps.
All the details are here.
5. Steve Baxter’s River City Labs has a new boss. And it’s a familiar face – former GM Peta Ellis is returning as CEO, with Baxter saying he’s “fortunate to have her as part of the family again”. More importantly, River City Labs is looking to hire up to eight people over the next six months. Find out more here.
BONUS ITEM: Some of the biggest names in tech in Australia – Atlassian, Google, Salesforce and Indeed – sat down together to discuss the future of work as part of Vivid Ideas last week. Sally-Ann Williams from Google argued we’ve got to stop thinking in silo and realise that job skills translate across disciplines, while Atlassian’s head of recruitment, Caitriona Staunton, says Australia needs to work on its brand and showcase the great business and tech culture. Their insights are outlined by Sarah Kimmorley here.
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