What the Flux

Canva, the Aussie graphic design tech company, is now valued at $8.7 billion - the most valuable private tech company in Australia. Patagonia has joined The North Face in boycotting Facebook and Instagram as part of the 'Stop Hate for Profit' campaign. Deloitte is the latest professional services firm to make significant cuts to its Australian workforce following major drops in revenue. --- Web: h...

The ABC underpaid employees by $12 million over more than six years. Website traffic at Carsales has had a significant rise over the last 8 weeks, as car buying and selling is embraced post lockdown. Almost $3 billion has disappeared from European tech company Wirecard, with the CEO quitting following the revelation. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta Facebook gr...

UberEats rival DoorDash has raised nearly $600 million and is now valued at $23 billion. The number of Australians who pay to read news online has gone up by 100% in the last 4 years. The Australian government will overhaul uni fees to encourage students to study for jobs in priority industries. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta Facebook group: http://bit.ly/wha...

The owner of Women’s Weekly and New Idea is selling its magazines company and is exiting Australia altogether. LinkedIn is the latest social media company to launch a ‘stories’ feature in Australia. Spotify has locked in the exclusive rights to a new Kim Kardashian West podcast. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta Facebook group: http://bit.ly/whatthefluxgroup Fac...

The two companies vying to own Virgin Australia would run it very differently to eachother: low-cost v culture first. WeWork Australia is depending on its US owner to fund its operations and ensure it survives the pandemic. Cameo, an app that lets users pay celebrities to send personalised video messages, is the world’s latest tech sensation. --- Web: https://www.flux.finance/ Instagram: http://bi...

After months of testing and PR, WhatsApp has finally launched in-app payments. Logistics company GetSwift misled investors over its profit potential according to Australia’s corporate regulator. Apple’s App Store generated $519 billion in sales for 2019. Timing of the report was interesting though. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta Facebook group: http://bit.ly/...

Amazon Australia has launched an online bottle-o, capitalising on the rise in alcohol consumption during lockdown. Starbucks is launching a new store format for the post COVID world, as the pandemic drags down sales by $4.6 billion. Australia's up and down sharemarket in 2020 has attracted a major influx of non-professional investors seeking to make money fast. --- Web: https://www.flux.finance/ I...

A new government proposal to modernise media regulations could mean Stan, Netflix and Disney+ would be required to invest in local Australian content. Thanks to lockdown, JB Hi-Fi is set to achieve its biggest profit growth in 10 years. Japanese electronics giant Sony has finally revealed the PlayStation 5, but did Sony miss its golden opportunity? --- Web: https://www.flux.finance/ Instagram: htt...

NAB will spend $50 million on new courses to improve the ethical and professional standards of its 34,000 staff. IBM is cutting its facial recognition business because it could lead to mass surveillance and inequality. Online business lender Prospa’s latest results reveal the extent to which Australian small businesses are battling. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxi...

Domino’s has emerged from lockdown well, thanks to its focus on tech and delivery, rather than in-store dining. Airbnb has restarted conversations about an IPO in 2020 despite raising an emergency $2 billion in April. Tesla has new competition in the electric car market following startup Nikola’s successful IPO. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta Facebook group:...

F45’s IPO is on hold as the pandemic has forced the company’s studios to close and therefore revenue to fall. Bunnings has achieved its strongest sales growth in decades due to a rise in demand for home repairs and DIY jobs. Slack’s share price dropped 16% when investors compared its growth plans for the next year against Zoom’s growth plans. --- Web: https://www.flux.finance/ Instagram: http://bi...

Online retailer Kogan is worth five times more than Myer after jump in sales during lockdown. The AFL has asked Sportsbet to avoid releasing controversial ads as the season restarts this week. The owner of Louis Vuitton is exploring ways to renegotiate its $16.2 billion purchase of Tiffany. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta Facebook group: http://bit.ly/whatthef...

New home builders and renovators can get $25k cash grants under new government program. Profit at McDonald’s Australia has dropped as Aussies become more health conscious and prefer home delivery. Beauty industry giant Coty is in talks with Kim Kardashian on creating a new brand together after the company’s recent Kylie Cosmetics deal. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fl...

Woolworths has given staff $57 million in bonus shares. Zip will enter the US after acquiring buy now pay later company QuadPay for $400 million. Rio Tinto is facing significant brand damage after destroying an ancient Aboriginal site. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta Facebook group: http://bit.ly/whatthefluxgroup Facebook page: http://bit.ly/Fluxfacebook Email...

Amazon has taken the next step in entering the Australian pharmaceuticals sector with a new trademark application. ‘Impact investments’ with an environmental or social purpose are expected to reach $100 billion in next five years. Emirates could take four years to resume flying to its entire network following the pandemic. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta Faceb...

Facebook Australia earned over $650 million from advertisers in 2019, but its income tax was less than $17 million. Australia could avoid a recession and maintain its record of having the longest running economic growth streak in the world. Twitter’s investors were unfazed after Donald Trump targeted social media giants with an Executive Order. --- Web: https://www.flux.finance/ Instagram: http://...

Optus profits have dropped over 80% due to COVID, bushfires and intense competition. SpaceX has become the first private company to try to send humans to space. TikTok owner ByteDance made $3 billion profit last year - and earned more revenue than YouTube. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta Facebook group: http://bit.ly/whatthefluxgroup Facebook page: http://bit....

After consistent losses, David Jones is considering selling its properties, including its flagship stores in Sydney and Melbourne, to reduce debt. Freelancer, the Australian freelancing marketplace, is enjoying an all-time high in user numbers - and believes it will thrive in a crisis. Amazon is in talks to buy Australian-founded self-driving car company Zoox for over $3b. --- Web: https://www.flu...

Afterpay and Ticketek have announced a new partnership in preparation for a post-shutdown events boom. Warner Music, the marketer of music by Katy Perry and Lizzo, is preparing for a $2.7b IPO. The Iconic is moving to 100% recycled delivery satchels to reduce the company's impact on the environment. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta Facebook group: http://bit.ly...

Google’s drone deliveries soar in Australia as online shopping goes nuts during pandemic. Prime Minister Scott Morrison reckons it is time to take the Australian economy out of 'intensive care' with a new $1.5b program. Lion, owner of Tooheys and XXXX Gold, is bringing 'healthy alcohol' brand White Claw to Australia --- Facebook group: http://bit.ly/whatthefluxgroup Facebook page: http://bit.ly/Fl...

Accolade Wines, Australia's second largest wine company, is offering big discounts to bars, pubs and restaurants as they reopen post COVID. The poor ad market has led to the closure of BuzzFeed in Australia, as well as 10 Daily. Alibaba, the Amazon of China, has enjoyed a huge sales surge - but strangely, its shares dropped. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta Fac...

Wesfarmers, the owner of Target, has announced it will close up to 75 Target stores and cut 1,300 jobs. Hertz, one of world’s biggest car-rental companies, has filed for bankruptcy with about $29 billion in debt. Magic Leap, the much hyped (but struggling) augmented reality tech company has some raised $350 million despite the pandemic. --- Web: https://www.flux.finance/ Instagram: http://bit.ly/f...

The Australian government has rejected an offer from the Queensland government to invest in Virgin Australia. Video conferencing behemoth Zoom is confident that global giants Google and Facebook have “no chance” at catching up to Zoom. Woolworths has participated in an $8 million funding round for a new Aussie startup that builds and launches consumer brands. --- Web: https://www.flux.finance/ Ins...

13cabs is entering the food delivery market to take on Uber Eats and Deliveroo. Facebook is taking on Amazon and eBay with its new ‘Shops’ feature - its biggest move into e-commerce yet. Spotify continues to build its podcast empire with the $100m acquisition of the Joe Rogan podcast. --- Email: hello@flux.financ e Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta Facebook group: h...

Disney’s head of streaming is leaving to become CEO of TikTok. Salesforce, Microsoft and Seek invest over $60m in Aussie training platform GO1. SoftBank’s Vision Fund, the world’s biggest tech investor, has reported its largest loss in history - $18 billion! --- Web: https://www.flux.finance/ Instagram: http://bit.ly/fluxinsta Facebook group: http://bit.ly/whatthefluxgroup Facebook page: http://bi...