{"id":41242,"date":"2023-10-20T15:12:37","date_gmt":"2023-10-20T15:12:37","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/melbourne-startup-livehire-successfully-completes-40-million-ipo-and-hits-back-at-the-critics-startupsmart\/"},"modified":"2023-10-20T15:12:37","modified_gmt":"2023-10-20T15:12:37","slug":"melbourne-startup-livehire-successfully-completes-40-million-ipo-and-hits-back-at-the-critics-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/melbourne-startup-livehire-successfully-completes-40-million-ipo-and-hits-back-at-the-critics-startupsmart\/","title":{"rendered":"Melbourne startup LiveHire successfully completes $40 million IPO and hits back at the critics – StartupSmart"},"content":{"rendered":"
Melbourne HR tech startup LiveHire has commenced trading on the ASX after successfully raising $10 million through an IPO that valued the company at $40 million.<\/p>\n
The cloud-based human resources productivity platform for recruitment began listing on Friday morning after issuing 50 million new shares at 20 cents per share.<\/a><\/p>\n But co-founder Michael Haywood won’t be constantly checking his company\u2019s share price on the day \u2013 he’ll be too busy getting married.<\/p>\n \u201cI\u2019ll be walking down the aisle whilst fielding broker calls,\u201d Haywood tells StartupSmart<\/em> the night before the listing.<\/p>\n But fellow co-founder Antonluigi Gozzi says it\u2019s a company-wide rule to not check how the startup is faring in the public market.<\/p>\n \u201cWe have a rule that people in the business can\u2019t talk about the share price,\u201d Gozzi tells StartupSmart<\/em>.<\/p>\n \u201cThat\u2019s an outcome for what we do, not an input. We understand that markets go up and down; industries go in and out of favour.<\/p>\n \u201cThat will change over time quicker than the business. We\u2019ve always said we will steer a true course. We\u2019re here to build a global tech company.\u201d<\/p>\n Despite the big milestone, Haywood says nothing will change internally.<\/p>\n \u201cWe\u2019ve got a fixed rule that it\u2019s business as usual,\u201d he says.<\/p>\n \u201cStock prices will change daily but our business strategy doesn\u2019t change. It\u2019s business as usual.\u201d<\/p>\n The five-year old startup\u2019s IPO comes amid much debate surrounding early-stage tech companies using the ASX as a funding route despite having low revenue.<\/p>\nSurrounded by controversy<\/h3>\n