The company’s boss, Changpeng Zhao, served time in jail over anti-money laundering failures. To get his users’ money back, he must hope the rest of the industry has learned a lesson.
AI start-up Firmus’ planned public listing wasn’t derailed by its boss’ history. Will a retail chief’s alleged lies denying an affair scupper his shot at a float?
“The worst thing possible for Hinge is for people to fall in love,” says Australian writer Alistair Kitchen, who has created his own app to rival it.
The Federal Court has ruled against the man who wanted to stop the company from putting him on a performance-management plan, saying he had not provided any medical evidence.
There is plenty of blame to share and no shortage of schadenfreude at data centre player Firmus’ failure to launch. But it’s hardly a “great loss for Australia”.
Firmus’ bankers claimed it had a “slowly, then suddenly” growth story. Instead, that was how its public listing unravelled.
Firmus has dropped its bid to list on the ASX, leaving its data centre plans to be funded through private markets.
The Australian data centre operator’s blockbuster landing on the Australian sharemarket is on thin ice as its bankers pull out all stops to convince sceptical buyers.
The man once best known as Roxy Jacenko’s husband is running a start-up that had seemed destined to be the biggest Australian stockmarket listing since Telstra. Until now.
Australia’s big banks have asked for an exemption to competition law to co-operate on plans for regional banking hubs.
