Tim Doyle believed Eucalyptus could hit $10 billion. Here’s why he sold it for a fifth of that
Eucalyptus sold to Hims & Hers for $1.6 billion earlier this year. Co-founder Tim Doyle explains the rationale behind the sale.
Daniel Van Boom
‘Confidence evaporated’: Explaining Firmus’ $44 billion IPO flop
The “AI factory” developer, founded by Oliver Curtis and Tim Rosenfield, attempted to hit the ASX later this month with a market value of over $40 billion. Investors balked.
Firmus absorbed 70% Australian startup funding before attempted IPO
Q3 was the biggest fundraising quarter on record for the Australian startup sector. However, 69 per cent of funds went to Firmus.
The ASX wants Australia’s unicorns. So why hasn’t it won them over?
Silicon Valley’s VC sector birthed eight of the US’s 10 biggest listed companies. Australia’s new ventures have grown to $100 billion over the past 15 years – but have often found the local market broadly “hostile”. Now – days after Firmus pulled what was supposed to be the biggest float since Telstra – the ASX […]
Square Peg raises over $1 billion for new funds amid AI bonanza
The Australian VC finalised two funds, one for early-stage investments and another for bigger bets, totalling over $1 billion.
Diraq scores $73 million in US defence race against quantum heavyweights
Diraq has progressed to the third and final stage of a quantum computing program run by the US Department of Defense. It comes with US$51 million in funding – with a possibility of another US$249 million.
Anthropic will let Australia stress test dangerous new models
The AI giant told a parliamentary enquiry that it is finalising an arrangement for Australian safety researchers to evaluate its latest and greatest (and most threatening) models.
‘Culture clash’: Inside three years of transformation and tumult at Xero
Sukhinder Singh Cassidy was hired to turn Xero from a Kiwi upstart into a global heavyweight. In more than a dozen interviews with current and former employees, and with Singh Cassidy herself, Forbes Australia examines what that transformation has cost, and whether a company can go global without losing the culture that built it. Late […]
Australia’s youngest billionaire Ed Craven places his next big venture bet
Maincode, the AI lab building Australia’s first sovereign LLM, is spinning up a venture capital arm its hopes will turn leaders in finance, healthcare and entertainment into disruptors.
$790 million medtech Harrison.ai reveals revenue surge after restructure culling 15% of staff
Harrison.ai founders Aengus and Dimitry Tran say their $789 million startup is reorganising to prepare for a commercialisation drive at home and abroad – but that R&D remains in Australia. Harrison.ai cut 15 per cent of its workforce earlier this year in a restructure founders Aengus and Dimitry Tran say will allow it to put […]