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6 things small business owners need to know in tech this week

Posted 3 years ago in Tech by
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  1. Atlassian has smashed down the door for tech companies hailing from Down Under. The team collaboration software company listed on the NASDAQ this week, its stock quickly jumping more than 30% in early trade, from $21 a share to $27, giving the tech company a valuation of around $US5.6 billion. Atlassian has practically written the book for tech companies hailing from Down Under which want to reach the global market. Company founders Mike Cannon-Brookes and Scott Farquhar can safely say they’ve played a huge part in dragging Australia out of the mine pits by showing them just how profitable technology can be.
  2. Is this the guy who created bitcoin? Wired thinks it may know who created cryptocurrency, bitcoin. In a report this week Wired named Australian scientist Craig Steven Wright as its main suspect. You can read the full rundown of why they think he’s their guy, here.
  3. Salesforce CEO Marc Benioff recently told Bloomberg he would no longer be investing in private companies with a unicorn status. (More than $1 billion valuation.) His argument was that private companies don’t provide the level of transparency public ones do and that their valuations are unrealistic as they’re not marked to market each day. His comments have torn open discussion around the differences between private and public companies. “If you believe you’re worth a billion dollars or more, then get out in the public markets,” he said.
  4. Mobile commerce. Paypal CEO Dan Schulman says the payments company has noted a 40% year-on-year growth in mobile transactions last quarter. More people are using their smartphone to make purchases, it’s a trend which small business owners need to use to their advantage. “What we need to do as an industry is to think about a world that is dominated by mobile and software,” Schulman said. “We need to think about how do we reimagine the management and movement of money in an era where everyone will have a smartphone.”
  5. Michael Dell’s big billion deal is a big bet on data. Dell’s $US67 billion acquisition of EMC, the largest tech deal in history, happened because the Dell founder is convinced technology’s next trillion-dollar market opportunity is data. “If you look at companies today, most of them are not very good at using the data they have to make better decisions in real time. “I think this is where the next trillion dollars comes from for our customers and for our industry.” Same goes for small businesses, having better access to actionable data can help you make more informed decisions and be more productive with your time.
  6. E-waste. As technology improves, many of us opt for the upgrade, shunning our old devices to the bottom drawer or throwing them in the trash. The New York Times this week had a great article on the world’s growing e-waste problem and how to better deal with the some 92 billion pounds of used electronics thrown away each year. It’s becoming more common now to see retailers run programs to help get rid of used electronics so you know you’re disposing of them thoughtfully. More here.

One comment

Gavin Bottrell
December 14, 2015 at 9.19 am

The success of Atlassian is very exciting. It would be great to see more Australian technology companies follow.
Gavin Bottrell
Bottrell Business Consultants

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