Good news! The days are now getting longer from today!
Here’s what you need to know.
1. Guvera has a plan B. The Australian reports the Queensland-based music streaming service, which needs cash soon if it’s going to survive, is now looking at a listing on the Newcastle Stock Exchange (NSX), after the ASX said no last Friday.
Guvera valued itself at around $1.3 billion, despite posting losses of nearly $140 million in the 18 months to December 2015, and was looking for $50-$80 million in the float.
The ASX met with Guvera yesterday to explain its decision.
The Oz also spoke to Guvera’s former COO Michael Wallis-Brown, who had some less than flattering things to say about the company and its business model. You can read up on it here.
2. Others are luckier raising capital on the ASX. As the drone wars heat up, US-based drone detection company, DroneShield, is set to list on the ASX today with a $27 million market cap following a $7 million raise.
The company says it canned a planned investment roadshow because the book was already covered, so closed the IPO after it was oversubscribed. Despite tapping the Australian market for cash, its founders Brian Hearing and John Franklin are staying in the US.
DroneShield’s claim to fame is proprietary hardware and software using audio signatures from the US Department of Defence, which it says can detect drones up to 1km away that are invisible to radar and radio frequency-based systems.
The company’s predicting 12 million commercial drones will be in the air by 2020 and will use the raise to expand the company’s sales, R&D, operational and support teams.
It’s also looking to broker more manufacturing and distribution partnerships and currently has 42 distribution agreements in 28 countries.
3. Auto software startup Connexion’s nailed some cash too. The company now has an extra $5 million thanks to convertible notes as it seeks to expand its deal with GM in the US, as well as targeting car makers in Europe. The Melbourne-based, ASX-listed Internet of Things has had a good year after launching its vehicle management system, Commercial Link, in General Motors cars two months ago and is now looking at rolling out more cloud telemtry and and infotainment solutions in connected cars, and now aims to be cashflow positive in FY2017.
They obviously want to try and keep as much of the payoff in-house as possible with the convertible note raise. You’ll find the latest details here.
4. So you’re looking for investors, but what are they looking for? An excellent question, answered by Josh Nicholas in this piece that rounds up the views of a bunch of investors and VCs in the age of Australia’s “ideas boom”.
5. Optus launches its 24/7 online English Premier League (EPL) channel and app on July 4. That’s six weeks before the season kicks off, but gives everyone the chance to try it and from what we’ve seen, it looks pretty good. The app will broadcast all 380 games live, backing it up with an on demand feature straight after the match.
Also expect previews, a twice-daily news football news show, post-match analysis, highlights and panel chat shows. There’s even a split screen option if you want to see two games at once, although on a smartphone, that may be a challenge. But the resolution is good enough that even if you hooked up your phone to a TV, it would look pretty good – and watching the EPL doesn’t chew up any additional bandwidth under the deal.
They’ve also designed it so that if you are a latecomer to the game, it hides the score.
All the details are here.
BONUS ITEM: If you’re a football fan, best you don’t rely on Facebook and Twitter for the latest news. The fascinating part is that basically all soccer fans look the same to the Facebook algorithm, so if you’re following the Copa America, Zuckerberg reckons you’d want Euro 2016 in your stream instead, sending people reminders about that instead of Copa.
Meanwhile, Twitter Moments is ignoring Copa America and its fans too. Read all about what’s going on here.
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