It’s Wednesday. Here’s what you need to know in Australian tech today.
1. Twitter had a nightmare Q1 earnings scenario. In the first quarter, revenue of $US436 million, missed targets of $US456 million. It had to cut back its full year financial forecast to $US470-$US485 million and what’s more, its numbers were leaked more than half-an-hour before the markets in the US closed. In an ironic twist, the news was broken by a little-known financial firm Selerity Corp, who told everyone via Twitter, before Twitter did.
2. More crowdfunded real estate. Crowdfunding platform Venturecrowd has teamed up with Mirvac to enable investors to build a portfolio of properties online from $100. As part of a trial, investors will have access to two Mirvac properties in Sydney.
3. Bigcommerce just closed its first acquisition. The online retailer has bought point-of-sale mobile tech startup Zing and plans to integrate the team and the tech into its existing offering. Full story is here.
4. American tech investment bank Growthpoint is targeting Australia for its next round of deals. The outfit sees Australia as prime hunting ground with a growing number of tech startups looking for exits. “It’s maybe what Silicon Valley was thirty or forty years ago,” Growthpoint co-founder and Managing Director, John Savage told Business Insider, adding the market wasn’t as crowded with venture capitalists or companies like his. There’s more here.
5. Ahead of its IPO next week accounting software company MYOB’s bookrunners are reportedly looking at tightening its share price guidance from $3 to $4 a share to between $3.5 and $4 a share. There’s more here.
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