5 things you need to know in Australian tech today

Zhenya Tsvetnenko. Image: Supplied.

It’s Tuesday. Here’s what you need to know in Australian tech today.

1. Reddit CEO Ellen Pao apologised. In a post on the site she admits, “We screwed up” and said she wants to improve communication with users. The site imploded on itself last week when it was reported Victoria Taylor, a popular employee of the site, was no longer working at Reddit. It was speculated Taylor was fired and to protest her removal volunteer moderators started shutting down hundreds of the site’s threads. More here.

2. Fintech. Citi says the big banks are moving too slow, that they aren’t relevant enough or good enough to own fintech. In an interview with the AFR, Citi digital boss Heather Cox said the institution’s competitors are now startups who are launching new services, like payments and P2P lending, in the banking sector. “People who are getting into banking and bringing new services… they’re doing amazing jobs. They’re the ones we need to be watching,” she said. More here.

3. The Australian Federal Police has been named in an international hacking leak on Italian company Hacking Team. The company has been the victim of a massive hack and among its previous clients, the law enforcement agency has been named. Full story is here.

4. The bridesmaid. CareerOne has spent several hundred-thousands of dollars rebuilding its jobs board site in the hope it can climb out of second position. It’s new strategy is based around selling a company’s brand rather than just listing job ads. Full story is here.

5. Rich-lister Zhenya Tsvetnenko’s company Mpire will list on the ASX today after completing a backdoor transaction with Fortunis Resources where it raised $6 million. The performance-based marketing platform, which connects advertisers with consumers, experienced 27% month-on-month growth between April and May, clocking up $AU1.58 million in revenue.

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