DealsDirect.com.au, Australia’s largest online retailer has announced the acquisition of DinosaurDeals.com.au. I suspected we might see some form of consolidation in the online space this year, and there could be more to come in future, although the press release indicates that perhaps you need some special business qualities to encourage an acquisition to take place. [...]
ChannelAdvisor announced that they have acquired another $20 million of VC funding from New Enterprise Associates. Also, they announced some staff reductions. Pushing towards an IPO, the lay offs are an effort to control expense and move toward profitability. Apparently around 45 people will be/have been laid off from headquarters with some more staff cuts [...]
The Australian online auction space is a hive of activity at the moment. eBay Australia is making big site changes, Tradingpost Auctions launches and now we hear the second biggest online auction site in Australia, Oztion.com.au, has been acquired today by Jumbuck Entertainment for $1million in cash, and $1million in Jumbuck shares. Earn-out is based [...]
Not an acquisition, but some big news today nonetheless. It seems that strong media rivals Fairfax and News Ltd have hopped into bed together. Or maybe that should be, ‘News Ltd has decided to ride shotgun with Fairfax’?. Fairfax’s drive.com.au is now to provide News Ltd’s carsguide.com.au with dealer listings (Fairfax Digital chief executive Jack [...]
Carsales.com.au (the leader in the Australian auto classifieds online market – a market in which we compete) has recorded a strong growth in revenue(up 62% to $46.2mil) and EBITDA up 99% to $17.1mil. This resulted in a reported net profit of $11.8million for the financial year.
Recently at the Moniker’s Domain name auction (which I mentioned here), the domain carsales.com was purchased for a tidy sum of $400,000 USD. Not a bad price I thought. Recently I performed a ‘whois’ on the domain and found out who the lucky owners are. They are none other than carsales.com.au. Of note, carsales.com.au did [...]
A big acquisition today. Although it isn’t specifically online related, I thought I would at least comment on it, as there is a few online properties involved in the deal and mention of Fairfax’ online classifieds. This deal has been in the making for some time now. I was expecting some news of a big [...]
Online auto classifieds carsales acquires discount vehicles Australia.
An interesting article was released today in the Financial Times. It is titled “Australia’s largest online retailers could become combined PE target“. This article discusses the possibility that VCs and Private Equity firms may find some of the big Australian ecommerce pureplays appealing. “It is believed that in 12 to 24 months a PE or [...]
eBay acquires StumbleUpon, eBay acquisition.
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