The rise and rise of 24-year-old Melbourne-based entrepreneur James Masini continues unabated.
The founder of youth-focussed jobs website Hippo.com.au informed Anthill yesterday afternoon that DMG, the company that owns the Nova and Vega radio networks, has just acquired a 20% stake in Hippo. The deal will see Hippo.com.au promoted on-air though DMG’s youth-centric national radio network.
According to Masini, the deal has been in the works for the last few months and has now gained sign off from Hippo’s cadre of 26 investors, which include Jeff and Janine Allis from Boost Juice. It represents the first major non-radio investment for DMG.
“We were really looking for brand synergy to help grow Hippo,” Masini said. “DMG has great access to our target market of 15-24 year-olds, so there’s a direct correlation between our two audiences. The fact that Nova is national means we will be able to expand our brand awareness campaign and give more Australian youths the opportunity to find suitable part-time and casual work.”
Masini appeared in the Oct/Nov 2007 issue of Anthill sharing his thoughts on how to build an online marketplaces. It appears that the people at DMG think he’s on the right track.
Congratulations to James and his team.