Welcome to Tuesday.
Here’s what you need to know:
1. Airtasker is moving into the big boys’ league. Tim Fung’s services marketplace is aiming to become an Australian household name after closing a $22 million Series B investment in the business led by Seven West Media.
Business Insider spoke to Fung this morning. Here’s what he had to say about the deal which was a year in the works, and how funding will help shift the business from a startup to a major industry player.
2. Who knew the cloud didn’t like storms? The weekend storms on Australia’s east coast knocked out the operations of numerous Amazon Web Services customers, revealing a serious risk for businesses relying on cloud computing operations.
Suddenly, the cloud has gone from solution to part of the problem, with the likes of Domino’s, Foxtel, The Iconic, Stan and Domain left without websites or key systems and unable to trade from mid-Sunday afternoon until as late as Monday morning.
The Fin reports AWS refused to discuss the reasons behind the outage, but it’s believed that power was lost in a number of systems in its data centre, before being restored about 90 minutes later. It then took hours for some systems to be rebooted and brought back online.
The details are here.
3. Take the Toby’s Estate MD, mix with a Hey You founder, sprinkle in $2.5m and a pinch of Nudie founder and leave to prove. Foodtech B2B startup Ordermentum just rounded up $2.5 million in series A funding from some high profile investors as the web-based ordering and payments platform seeks a slice of the $30 billion the food and beverage industry spends on ordering in Australia annually.
Ordermentum founders Andrew Low and Adam Theobald landed Nudie Juices co-founder and Ten Network chairman David Gordon as both investor and chairman of the company and already has 3,000 businesses on board, with drinks giant Lion as the platform’s second customer.
Details on where to next and why Gordon is backing the business are here.
4. Online travel booking agency Webjet is buying a New Zealand-based car hire business. Chris Pash reports they’re paying $NZ85 million ($A80 million) for Online Republic, betting on the motorhome side of the business and the fact that 90% of bookings at Online Republic were generated outside of NZ.
Around 22% of the acquisition is coming from shares at $A6.21 each, plus an equity capital raising of up to $A72 million.
Webjet also plans to take Online Republic global.
5. The tech industry’s talking about the Guvera IPO. And not in a good way. Atlassian’s Mike Cannon-Brookes let his feelings known, taking to Twitter to say the prospectus left him “terrified” and the “ASX shouldn’t allow this stuff”.
Blackbird Ventures founder Niki Scevak also called the Guvera IPO “horrifying”, while Seek co-founder Paul Bassat, who last year launched the $200 million VC fund Square Peg Capital, took aim at the ASX for allowing questionable floats, adding “the quality, readiness and valuation of some of the tech companies coming to market is an absolute disgrace”.
Having the heavyweights of the Australian tech industry line up against the Queensland-based online streaming service, which has been burning through cash at the rate of more than $1.5 million a week, doesn’t bode well for the float, which is seeking $80 million, valuing itself at around $1.3 billion.
There’s more here.
BONUS ITEM: When the going gets tough, the tough go surfing. Red Bull’s Cape Fear continues at Cape Solander, south of Sydney, today.
It started yesterday, but they postponed it when conditions got too rough for even these daredevils. You can watch day 2 here, and while the surf is still pumping today, it’s lot tamer than yesterday waves, which hospitalised three surfers in wipeouts.
Here’s what yesterday was like:
— Red Bull TV (@RedBullTV) June 6, 2016
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