{"id":45236,"date":"2023-10-20T15:42:03","date_gmt":"2023-10-20T15:42:03","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/redbubble-announces-massive-ipo-and-12-million-investment-in-another-step-towards-becoming-australias-next-multi-billion-dollar-startup-startupsmart\/"},"modified":"2023-10-20T15:42:03","modified_gmt":"2023-10-20T15:42:03","slug":"redbubble-announces-massive-ipo-and-12-million-investment-in-another-step-towards-becoming-australias-next-multi-billion-dollar-startup-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/redbubble-announces-massive-ipo-and-12-million-investment-in-another-step-towards-becoming-australias-next-multi-billion-dollar-startup-startupsmart\/","title":{"rendered":"Redbubble announces massive IPO and $12 million investment in \u201canother step\u201d towards becoming Australia\u2019s next multi-billion dollar startup – StartupSmart"},"content":{"rendered":"
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Melbourne-based startup Redbubble has confirmed its plans for a massive $50 million public listing on the ASX in \u201canother step\u201d towards its goal of becoming a multi-billion dollar Australian startup.<\/p>\n

Redbubble is now \u201cwell advanced\u201d in its IPO preparations, with the main aim of the listing to give it runway to reach profitability and achieve a sustainable business model, founder and CEO Martin Hosking says.<\/p>\n

\u201cThe primary focus of the IPO is to give us the additional resources to continue to deliver sustainable long-term growth,\u201d Hosking tells StartupSmart<\/em>.<\/p>\n

\u201cWe want to target both institutional and retail investors.<\/p>\n

\u201cWe have been around for 10 years and have been working on the fundamentals of the business. The potential IPO is another step on this journey.\u201d<\/p>\n

The online marketplace has also revealed it has closed a $12 million pre-IPO round led by Blackbird Ventures, giving it \u201cflexibility\u201d as it moves towards the listing.<\/p>\n

Blackbird Ventures co-founder Rick Baker says it\u2019s a positive sign for the local ecosystem that Redbubble have chosen to list on the ASX rather than looking abroad, and it has the potential to rival Australia\u2019s most successful startups.<\/p>\n

\u201cRedbubble is precisely the kind of company we hope to be seeing listing on the ASX rather than seeking offshore listing,\u201d Baker tells StartupSmart<\/em>.<\/p>\n

\u201cWe think it\u2019s got every chance of joining REA, CarSales, and SEEK as one of our leading internet companies.\u201d<\/p>\n

The platform for independent artists to sell their designs now has 158 employees, with 90 of them based in Melbourne.<\/p>\n

The startup has also revealed its half year financial results, with its platform facilitating $80.6 million worth of transactions, a 55.5% increase year-on-year. Redbubble is monetised through taking a cut of each sale made through its service.<\/p>\n

The year also saw Redbubble\u2019s customers grow by 63%, with 1.25 million people making a purchase through the site, and a 62% increase in artists utilising the platform.<\/p>\n

\u201cThe growth rates demonstrate the value of the investments that have been made in the last few years,\u201d Hosking says.<\/p>\n

\u201cThe size of the global opportunity before Redbubble and our growth momentum point to the potential to create a company of significant scale, many multiples of our current size.<\/p>\n

\u201cRedbubble is fast becoming the largest global consumer internet company to have come out Australia.\u201d<\/p>\n

The $12 million round comes after a $15.5 million investment in the startup last year which was used to fund its global expansion and product development.<\/p>\n

Follow StartupSmart on<\/em> Facebook,<\/em> Twitter,<\/em> LinkedIn<\/em> and<\/em> Soundcloud.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Melbourne-based startup Redbubble has confirmed its plans for a massive $50 million public listing on the ASX in \u201canother step\u201d<\/p>\n","protected":false},"author":2,"featured_media":58848,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,22,23,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/45236"}],"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=45236"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/45236\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/58848"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=45236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=45236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=45236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}