5 Things You Need To Know In Australian Tech Today

Adventure Capital founder and managing partner Stuart Richardson is raising up to $60 million to invest in Australian tech startups. Image: Supplied.

Friday has arrived, here’s what you need to know before the weekend.

1. Adventure Capital is looking to raise $60 million to invest in about 30 tech startups. The fund will close to investors in the first half of 2015 but it’s already secured ex-Twitter exec Chris Fry on its board of advisors. The full story is here.

2. The way Australians are using and engaging with the internet is changing at a rapid pace. The Australian Communications and Media Authority has released its annual report detailing how Australians use the internet across 2013-14. All the trends and stats you need to know are here in a handy slide deck.

3. Tim Cook’s $100 billion mistake? While Apple’s stock has been on a tear this year, up more than 50% since April, debate has erupted over whether Cook wasted $US100 billion on stock buybacks and dividends. Some think Apple would’ve been better off investing the money back into the company – on strategic acquisitions and the like – others think Apple is right to just focus on its core business. It’s all here.

4. Uber wants to be more humble. It’s just raised $US1.2 billion at a $40 billion valuation and says it wants to smarten up its act. Here are all the details.

5. Everything you need to know about the hottest tech startup in China right now. Xiaomi, for those who don’t know, is the number one smartphone maker in China. It’s a private company that’s reportedly raising funding at a $US50 billion valuation. The startup is reportedly selling about four million units of its 10,400 mAh Power Bank each month. The rest is here.

Have an awesome day! I’m on Twitter. @alexandraheber

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