{"id":38459,"date":"2023-10-20T14:56:40","date_gmt":"2023-10-20T14:56:40","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/redbubble-releases-first-financial-results-since-its-288-million-ipo-how-the-melbourne-startup-wants-to-become-australias-next-big-tech-success-startupsmart\/"},"modified":"2023-10-20T14:56:40","modified_gmt":"2023-10-20T14:56:40","slug":"redbubble-releases-first-financial-results-since-its-288-million-ipo-how-the-melbourne-startup-wants-to-become-australias-next-big-tech-success-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/redbubble-releases-first-financial-results-since-its-288-million-ipo-how-the-melbourne-startup-wants-to-become-australias-next-big-tech-success-startupsmart\/","title":{"rendered":"Redbubble releases first financial results since its $288 million IPO: How the Melbourne startup wants to become Australia\u2019s next big tech success – StartupSmart"},"content":{"rendered":"
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Melbourne-based tech company Redbubble has reported its first financial results since its $288 million IPO earlier this year<\/a>, with \u201cstrong\u201d growth across the board.<\/p>\n

The online marketplace for creatives had operating cash flow of $2.2 million for the fourth quarter and $42.2 million in the bank by the end of June, well up from $18.7 million last quarter after Redbubble raised $40 million through its public listing in May.<\/p>\n

Redbubble co-founder Martin Hosking says these are \u201cstrong\u201d results, with consistent growth on both sides of the marketplace.<\/p>\n

\u201cWhat pleases me is that the growth is evenly based,\u201d Hosking tells StartupSmart<\/em>.<\/p>\n

\u201cThe health of a marketplace is ultimately judged by all metrics growing in a similar way. Marketplaces get destabilised when one side grows a lot strong than another, but they\u2019re all growing strongly.\u201d<\/p>\n

In the half year ending in June, Redbubble launched six new products, released the platform in two new languages and made other improvements to the platform, according to the financial results.<\/p>\n

Hosking says it has been business as usual for the company since the public listing<\/a>, and this has played a key role in its continual growth.<\/p>\n

\u201cThe key is continuing to do what we do,\u201d he says.<\/p>\n

\u201cThe thing about our marketplace is that we\u2019re not doing things fundamentally different to what we\u2019ve been doing for 10 years. We\u2019re investing in the ecosystem for good customer experience and a good experience for artists.\u201d<\/p>\n

Following the ASX-listing, Hosking signalled his intent to build Redbubble into a \u201ctruly substantial global consumer tech company\u201d<\/a> from Australia, and he says this is well and truly on track.<\/p>\n

\u201cWe\u2019re participating in a huge global market, but the ultimate size of Redbubble doesn\u2019t dependent on the significant opportunity but on how well we execute,\u201d he says.<\/p>\n

\u201cIf we continue like this then we have the capacity to have a very significant company indeed.\u201d<\/p>\n

For other founders, he says it\u2019s important to focus on what\u2019s working and shut out the outside distractions.<\/p>\n

\u201cOnce you\u2019ve got a model that works double down on it,\u201d Hosking says.<\/p>\n

\u201cIt\u2019s easy to get distracted with advisors, investors and a whole bunch of people giving lots of advice, so it\u2019s about picking the signal from the noise and focusing on things that work and continuing to do them.<\/p>\n

\u201cYou have to avoid those distractions and whatever the flavour of the month is to really focus on the fundamentals of the business once it starts growing.<\/p>\n

\u201cIt may take longer than you thought but your ultimate rewards will be higher.\u201d<\/p>\n

Follow StartupSmart on<\/em> Facebook<\/a>,<\/em>\u00a0Twitter<\/a>,\u00a0<\/em>LinkedIn<\/a>\u00a0<\/em>and\u00a0<\/em>SoundCloud<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Melbourne-based tech company Redbubble has reported its first financial results since its $288 million IPO earlier this year, with \u201cstrong\u201d<\/p>\n","protected":false},"author":2,"featured_media":61657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/38459"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=38459"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/38459\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/61657"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=38459"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=38459"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=38459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}