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“Never been stronger” to invest in Aussie startups

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Good news for Aussie startups, investments have never been stronger

Venture capital investment in Australian companies hit a record $2.5 billion this year, according to a new KPMG report.

Head of KPMG high growth ventures says the investment environment “has never been stronger” for Australia

KPMG has also seen a record amount of startups and home-grown tech giants, creating jobs and wealth for the country.

“As we look to Australia’s post-pandemic future, the emergence of these digital disruptors has massive potential to contribute to the nation’s economy,” KPMG head of high growth ventures Amanda Price said.

“You only have to look at the influence of their predecessors such as Atlassian to view the positive impact of home-grown Australian tech giants, creating jobs and wealth for the country,”

price said.
Airwallex founders Xijing Dai, Jack Zhang, Lucy Liu, and Max Li

The top 20 Australian startup investment deals (1 July 2020 – 1 July 2021) (US$Mil)

Airwallex100
Brighte100
Athena90
SafetyCulture73
Canva71
V255
Gilmour Space Technologies46.7
Linktree45
Horizon Power44.5
Zeller38.8
Avenue37
Sendle35
Employment Hero34.9
RayGen32.5
Integrity31
Stake31
Baraja31
Morse Micro30.3
Elenium Automation26
Sea Forest25.5

 

The top 20 Australian seed round deals (1 July 202 – 1 July 2021) (US$Mil)

Honey12
Nourish Ingredients11
Vop10
Pyn8
XY Sense6.3
JigSpace6.1
Vitruvian6
VOW Foods6
Hysata5
Illuvium5
myInterview5
Okendo5
Mindset Health5
mod.io4
PaidRight3.8
Robobai3.6
Ultra HPQ3.5
Provectus Algae3.24
Handdii3
Unhedged2.3

Business

World’s second-biggest fashion retailer blames Russia for 89% profit drop

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The Swedish fashion giant H&M says profits have dropped 89 per cent

They blame cost inflation, slow consumer spending and one-off expenses related to its exit from Russia.

Pretax profit in the period, the Swedish group’s fiscal third quarter, fell to 689 million crowns ($60.9 million) from a year-earlier 6.09 billion.

The Russian exit accounted for half of the decrease in profits, according to the retailer.

H&M announced a cost cutting programme that it predicted would result in annual savings of around 2 billion crowns, with savings expected to become visible in the second half of 2023.

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How Disney beat Netflix at its own game

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When it comes to streaming, there’s a new sheriff in town.

Disney+ has quickly become a major force in the streaming wars, adding over 14 million new subscribers in its latest quarter. That’s a big jump from the 3 million it had just three months prior.

In comparison, Netflix lost nearly 1 million subscribers in the same period.

So what happened? How did Disney+ overtake Netflix so quickly?

There are a few factors at play.

For one, Disney+ has a lot of content that people want to watch. As well as its acquisition of 21st Century Fox, the service  has access to popular franchises like Star Wars, Marvel, and The Simpsons. That’s a big draw for people who are looking for something to watch.

In addition, Disney+ is much cheaper than Netflix. A subscription to Disney+ costs $6.99 per month, while a Netflix subscription starts at $8.99 per month. For people who are trying to save money, Disney+ is the more appealing option. Though Disney and Netflix have signalled they’re going to push up their prices.

Disney+ has been aggressive in marketing itself as the superior streaming service. The company has run a number of ads that compare its service favorably to Netflix. This has helped convince people to switch to Disney+.

The Disney effect

The Walt Disney Company launched Disney+ on November 12, 2019. The streaming service is available in the United States, Canada, the Netherlands, Australia, New Zealand, and Puerto Rico.

As of the second quarter of 2020, Netflix had nearly 221 million subscribers across 190 countries.

Factbox

What is the market share of Netflix? In the United States, Netflix has a market share of 37%. That means it is the most popular streaming service in the country.

When was Netflix founded? Netflix was founded on August 29, 1997, in Scotts Valley, California.

What type of company is Netflix? Netflix is a publicly-traded company. Its stock is traded on the Nasdaq under the ticker symbol NFLX.

What is the headquarters of Netflix? The headquarters of Netflix is located in Los Gatos, California.

Disney+ facts

Disney is spending $1 billion per year on its streaming service.

What is the market share of Disney+? In the United States, Disney+ has a market share of 24%.

When was Disney+ launched? Disney+ was launched on November 12, 2019.

What type of company is Disney? Disney is a publicly-traded company. Its stock is traded on the New York Stock Exchange under the ticker symbol DIS.

How much does Disney stock cost? As of August 2020, the price of one share of Disney stock is $115.76.

What is the headquarters of Disney? The headquarters of Disney is located in Burbank, California.

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Business

The world’s largest online retailer gives staff a pay rise

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Workers at Amazon’s warehouse and transportation hubs are set to receive a pay rise

The world’s biggest online retailer says wages will increase to over 19 dollars, which is up from 18.

It’s part of a plan to help the company attract and retain workers in a very tight labor market.

Of course, the peak shopping season is also getting underway.

Amazon says the price increase will cost its company nearly one billion dollar in the next year alone.

The minimum for workers on an hourly wage will stay at 15 dollars.

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