Here’s the top tech news to start your week:
1. Australian music streaming startup Guvera has stopped operating after taking $185 million from investors. Its 3000 shareholders were reportedly told on Friday that co-founder Claes Loberg and major backer Steve Porch had exited the board, and the sole remaining director Darren Herft had asked for volunteers to rebuild the company. Read more on the downhill slide since the ASX blocked its IPO bid last year.
2. The finalists have been revealed for the FinTech Australia awards. Business Insider can reveal all the startups up for a gong at the first-ever Finnies, which will be held in Sydney on May 24. Eight companies are up for fintech organisation of the year, with three finalists for each of the female and male fintech leader of the year awards. Read the full list here.
3. Devastating ransomware WannaCry is making international headlines this morning. The unusually infectious malware has already crippled the UK’s NHS health system, although, fingers crossed, Australia has escaped the worst as it hit after our Friday workday was over. An Australian security expert explains how the malicious software works here.
4. Telstra has admitted thousands of customers were never going to get the NBN speeds they were paying for. An executive from the telco wrote a blog post last week saying about 1% of its NBN population, which equates to about 8000 customers, bought “speed boosts” that, in the end, Telstra could not deliver. Those customers will be getting reimbursements, and any future NBN customers that pay for a speed boost will have their performance monitored for the first month. Read more here.
5. H2 Ventures is continuing to broaden its focus from traditional fintechs. Applications are now open for the winter 2017 class that will enter the accelerator this August – and the intake will be split between fintech and data & artificial intelligence. Read more on H2 co-founder Toby Heap’s reasons for making this move.