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Results of the second annual Yahoo!7 Social TV Survey are revealing of how Australians are watching television with nearly half with one hand on the social media, so to speak.
But Pygg’s market opportunity arises largely because banks are, well, banks. Even though most banks offer a variety of mobile transactions, they are hardly easy to use. A maze of links, codes and authentication, and sometimes having to remember a friend’s phone number etc., riddle the user. And then there is the cost a well.
Pygg’s stock is rising. The Australian-born Twitter payment pioneer has banked $600,000 in new angel capital. Pollenizer, the startup incubator, raised most of the amount from a bunch of new and previous investors.
Earlier this week, Australian company Dealised, which peddles group-buying platforms, pocketed a cool $5 million in funding from global big-wig SingTel Innov8 and Perth-based venture capital firm Yuuwa Capital LP to assist with its development and international expansion. We've said it before and we'll say it again: In the event of a gold rush, don't start digging. Start selling shovels!
Last Friday, with great excitement (coupled with a small amount of nervousness and a hint of embarrassment), we were finally able to unveil Antmart -- Anthill's take on the 'group buying' model. In summary, it's a group buying website (sometimes also known as a 'collective buying' or 'daily deals' site) developed specifically for business builders.
In an Australian first, mobile solutions group Mnet has delivered an augmented reality experience to capitalise on KIA's sponsorship of the Australian Open. Triggered by broadcast television, online and print media advertising, the mobile application, available on smartphone platforms iPhone and Android, uses augmented reality to bring a 3D animation of the KIA Optima from different channels, such as television, to the mobile phone.
Collective-buying behemoth Groupon is coming to Australia and is now hiring. The company that triggered Australia's recent obsession with deal-sites, such as Ouffer, Cudo and recently acquired Spreets, will initially be trading under the name StarDeals and is rumoured to be considering former MySpace HQ to set up shop in Sydney.
Offer Me, one of Australia's early adopters of the group-buying model, released a media statement on Friday alerting the media that it is on the "verge of" receiving "substantial" venture funding from overseas investors. But being on the 'verge' of a big deal is, indeed, not a big deal (and possibly not even news). So, why would someone produce a media release and court the media's attention about a deal not done?
This morning, it was confirmed that Yahoo!7 has acquired Australian group-buying business Spreets for $40 million. The deal is the first of what is expected to become a consolidation of the Australian group-buying market. However, what's truly remarkable about this announcement is the short time-frame between Spreets' launch and its sale, after only 10 months on the Australian market.