Here’s the must-read tech news for Tuesday:
1. Australia’s self-proclaimed ‘Uber of real estate’ has gone under. Queensland startup Revalu8, which launched last year, was put into liquidation last week with total debts of almost $700,000. The business, which received $1.5 million in seed funding, reportedly had a dispute with its software developer Agile Software Services that ended in the business being unable to access its own code. Read more on the saga here.
2. Sydney fintech Flamingo is seeking to raise $5.5 million. The KPMG mLabs accelerator alumnus, which is listed on the ASX via its parent Cre8tek, wants to use the money to scale up its presence in the US and Australia market, as well as explore new verticals and regions like Asia. Read more on the customer engagement software provider.
3. LG’s good phones aren’t making a dent in a market dominated by Samsung and Apple, so it’s now giving away free TVs. In a move designed to “get phones into people’s hands”, the electronics giant announced Australians that buy the new G6 through a Telstra plan will receive a 2017 model 43-inch smart television, which is worth more than the phone. Read more on the deal and the new phone here.
4. Adelaide fixed wireless broadband provider Uniti has completed an almost $3 million funding round. The AFR reports the NBN rival will use the funds to roll out 40 to 50 towers in Melbourne with a mission to give people an alternative to the public broadband network.
5. The chief of online marketplace Redbubble has threatened to pull the company out of Australia if the federal copyright laws aren’t changed. The Australian reports Martin Hosking’s concerns around last week’s scrapping of safe harbour proposals, which would have protected ecommerce and online marketplaces from being responsible for pirated products sold through their platforms. He said the current Australian copyright laws are the strictest in the OECD and that it was “frankly retarded” that the government shelved reform in favour of “a small number of vested interests”.
BONUS: Fancy flying faster than sound to get from Sydney to Los Angeles in less than seven hours? US startup Boom has just raised $43 million in series A funding to make this come true. The company is working on making Mach 2.2 passenger flights affordable – in the range of $US2,500 one way for a 3-hour journey from New York to London. Read more on its vision.
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