It’s Thursday, hold on tight you’ve almost made it. Here’s what you need to know in Aussie tech today.
1. It’s all MYOB. If you’re a company gearing up for a float, where analysts at institutions like Citi estimate your worth between $2.4-$2.8 billion, how you present yourself and communicate your story is critical. There’s no harm in aiming high – reports suggest MYOB’s brokers want fund managers to compare MYOB to US giant Intuit, which has a market cap of about $27 billion. The software company’s brokers – Bank of America Merrill Lynch, Citi, Goldman Sachs and UBS – will reportedly host meetings over the next two weeks before MYOB lodges a prospectus. More here.
2. The line up for Blackbird’s Sunrise conference, which was EPIC last year, has been announced. The theme this year is the Silicon Valley Myth explained. Scheduled for May 25, the event will run alongside Vivid as part of the ideas stream of the Sydney festival. While the lineup this year doesn’t list some of the huge names it had last year, it does have some awesome speakers. Eventbrite, Tyro and Pipe Networks are all on the list.
But who’s not on the list is also worth noting. We expected Campaign Monitor to be on the bill with the company’s recent push into the US, appointing Alex Bard as CEO and madly hiring. BigCommerce is also absent. Both companies landed significant funding rounds last year and have been focused on the US, sharing their experiences with the local startup scene would be beneficial to the ecosystem. Next year?
3. Don’t pitch a reverse takeover to Shark Tank judge Steve Baxter, he’s not fond of them. He said the ASX has the potential to be a strong small stage global funding board but to get onto it doing a clean listing is “easier and cheaper”. For years junior miners and explorers have managed to raise millions to launch explorative drilling projects in the hope they’ll strike some sort of commercially viable commodity below ground.
“Then they’ve got to go and raise a billion dollars for the mine. And people complain about tech startups being risky? Tech startups are gold,” Baxter said. Full story is here.
4. Reverse engineering startups. AirTree Ventures VC Paul Bennetts has published an insightful post on his blog about some of the things you can learn about establishing a successful startup by reviewing IPO documents of those that have gone before you.
Using Etsy’s S-1 filing, Bennetts explained you can get a look at how the marketplace generates revenue, how much it spends on marketing, how it’s users behave and how fast it is growing. The idea is learning the end game first. The full post is here.
5. Microsoft is offering free upgrades to Windows 10, even if you’re using pirated software. Microsoft is hoping to get legitimate versions of its software onto the hundreds of millions of Windows users in China when it releases the software later this year.
“We are upgrading all qualified PCs, genuine and non-genuine, to Windows 10,” Terry Myerson, who runs Microsoft’s operating systems unit, said at the WinHEC technology conference in Shenzhen, China. Full story is here.
Have an awesome day! I’m on Twitter.