Blackbird-backed Tracksuit banks $38m to win over marketers
Tracksuit, a market research start-up backed by investment firm Blackbird, has lifted its valuation to about $400 million after completing a fresh capital raising and scrapping its co-chief executive model.
Tracksuit provides software used by companies, including telehealth company Eucalyptus, Woolworths-owned grocery delivery service Milkrun, and Uber Eats to conduct weekly surveys that track how consumers feel about their brands.
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AU Financial Review
a day ago
- AU Financial Review
Blackbird-backed Tracksuit banks $38m to win over marketers
Tracksuit, a market research start-up backed by investment firm Blackbird, has lifted its valuation to about $400 million after completing a fresh capital raising and scrapping its co-chief executive model. Tracksuit provides software used by companies, including telehealth company Eucalyptus, Woolworths-owned grocery delivery service Milkrun, and Uber Eats to conduct weekly surveys that track how consumers feel about their brands.
Sky News AU
3 days ago
- Sky News AU
Chris Bowen's energy revolution pushing Australia's heavy industry to the brink with Tomago Aluminium on the verge of collapse
Australia's largest aluminium smelter is on the brink of collapse under the weight of soaring power prices as Energy Minister Chris Bowen continues with his renewables revolution. A report in the Australian Financial Review emerged on Friday that said Rio Tinto-owned Tomago, Australia biggest aluminium producer, is seeking billions of dollars in public funds to avert collapse as energy costs plague local industry. The producer is located north of Newcastle, uses about 10 per cent of NSW's power supply and makes about 37 per cent of Australia's primary aluminium. The collapse of the massive company could lead to more than 1,000 people losing their jobs, while 5,000 indirect workers could suffer. Tomago executives have reportedly asked the NSW and federal governments for assistance amid crippling power prices and as cost-effective and consistent renewables remain largely unavailable. The damning report sparked concern from the Centre for Independent Studies' senior policy analyst Zoe Hilton who said the government's energy policy was crippling the aluminium sector. 'With power prices in Australia rising higher and higher, it simply doesn't make financial sense to run a smelter here,' Ms Hilton told 'Tomago's current predicament is a direct result of state and federal government plans to shift our grid to mostly intermittent energy sources.' Mr Bowen and Labor have vowed to make the nation a 'renewable energy superpower' with an energy mix of 82 per cent renewables by 2030 and green energy driving local manufacturing. The Albanese government is looking to boost this through production tax credits for leading Australian aluminium smelters, including Tomago, and give $2 billion back to help with the energy transition. A federal government source told the AFR it was involved in discussions with Tomago over the details of the tax credit design as it looks to alleviate the impacts of soaring power costs. Rio Tinto's chief executive Jakob Stausholm flagged concerns about the producer's electricity costs earlier this year where he warned power price contracts beyond 2028 would render Tomago unviable. Ms Hilton said this should come as a brutal warning for the government as it strives to dramatically alter the nation's energy mix. 'The federal government has refused to acknowledge that its plan to make our grid run off 82 per cent renewable energy by 2030 is making energy unaffordable for industrial users, not to mention residential and small business consumers,' Ms Hilton said. 'We are following in the footsteps of Germany, which gets almost half of its power from wind and solar. 'Around 40 per cent of German industrial companies are now considering partly or fully relocating operations abroad due to a lack of affordable and reliable energy. Australia has only just reached over 30 per cent wind and solar. 'We don't have European neighbours with nuclear plants from which to import reliable power as Germany does, so our industries will feel the pain of expensive, unreliable power much earlier in the renewables buildout.' Shadow energy minister Dan Tehan said Labor's ambitious renewables plan could result in job losses at Tomago. 'Spare a thought for the workers at Tomago worried about losing their job because high energy prices, as a result of Labor's obsession with renewable energy, is threatening their livelihood,' Mr Tehan told 'These workers will be worried today about paying the bills and putting food on the table if Tomago is closed because of Labor's higher energy costs. 'Every worker and every business owner in Australia will be looking at Tomago and worrying if their business can survive the exorbitant energy costs under Labor's renewables agenda.' Tomago's turmoil comes as the government looks to shift the aluminium industry to renewable energy while maintaining the operations of the major smelters. The producer was historically powered by cheap coal-fired generators but the shift away from fossil fuels has presented challenges regarding both energy security and power prices. Ms Hilton said Australia needs to ditch the renewables plan if the nation wants to keep heavy industry from moving overseas. 'If we want to minimise electricity costs, new coal plants will be the cheapest way to supply our grid,' Ms Hilton said. 'If industry remains committed to reducing emissions, nuclear plants are the only option to provide the necessary 24/7 power at an affordable price, so the bans will need to be lifted.' Tomago CEO Jerome Dozol in November 2024 said the company urgently needed public help to assist with the smelter's energy bills. 'The price of electricity on offer is too expensive for us to keep operating without government intervention,' Mr Dozol said.
The Advertiser
6 days ago
- The Advertiser
Mal's Mission: How Meninga plans to poke the Bears
After unveiling Mal Meninga as the Perth Bears' inaugural head coach, the club's chief executive says criticism of the NRL's start-up franchise is proof they are on the right track to winning new supporters in the AFL-made West. At a press conference at League Central in Sydney on Friday, Meninga signed a three-year contract with the Bears, who will enter the NRL in 2027. It marks the 64-year-old's first foray into club coaching since he left the Canberra Raiders in 2001. Meninga will be 69 by the time his contract expires. The Immortal, who has enjoyed a decorated representative coaching career in charge of Queensland and Australia, will relinquish his role with the Kangaroos ahead of this year's Ashes series to help the Bears build a roster to be competitive in a little over 18 months time. "This is bigger than me," Meninga said. "This new pioneering venture over to WA and the opportunity to be involved in the growth of the game, to grow a club the Perth Bears is too good to refuse. "I feel very honoured, very nervous, and I think it's a huge responsibility." The Bears can talk to off-contract players come November 1, but their hardest challenge may be winning over fans, sponsors and a media who are already heavily invested in the AFL. "Mal is an Immortal of the NRL, he is also an Immortal of our national sporting landscape, Mal is part of the Australian identity and we're honoured he's taken this opportunity," said club chief executive Anthony De Ceglie. "We've gone from one Bear in me, to two Bears in Mal, we've doubled our staff overnight. "It's small steps, we need to listen to the legacy of the North Sydney Bears and the fans in WA who have a proud tradition and who have kept the candle burning and we need to marry those two things together to make this a huge success." A former high-ranking executive at Seven West Media - the company which owns the AFL broadcast rights - De Ceglie knows the NRL's 18th side has work to do. Already the local Seven West-owned newspaper The West Australian has been critical of the venture which has been backed by WA State government cash. "Normally if you're doing something right, you have a few critics along the way," De Ceglie said. "I've been totally blown away by the amount of messages of people who want to get involved in the Perth Bears … I'm very optimistic this will be a huge success. "It'll be up to the Perth Bears to earn the respect of the newspaper. "If we're a success on the field, and if we're a success off the field, then we should be in those sports pages. "If we're not, the only people missing out are the readers of the newspaper." Meninga is yet to finalise his coaching staff nor a recruitment team who can help him bring the Perth roster together with a relatively short lead-in time. When the Redcliffe-based Dolphins entered the NRL in 2023 they missed out on several big-name targets in the recruitment space. But their squad - which won nine of their 24 games in their inaugural season - earned the respect of rival clubs for their effort and determination. "I don't think we'll have too many worries about talking to players and managers about the opportunity to come play in Perth," Meninga said. "We've got a story to tell. We have to understand what we're trying to achieve and that's my job initially to get the right people and resources around us to help understand what that story is." After unveiling Mal Meninga as the Perth Bears' inaugural head coach, the club's chief executive says criticism of the NRL's start-up franchise is proof they are on the right track to winning new supporters in the AFL-made West. At a press conference at League Central in Sydney on Friday, Meninga signed a three-year contract with the Bears, who will enter the NRL in 2027. It marks the 64-year-old's first foray into club coaching since he left the Canberra Raiders in 2001. Meninga will be 69 by the time his contract expires. The Immortal, who has enjoyed a decorated representative coaching career in charge of Queensland and Australia, will relinquish his role with the Kangaroos ahead of this year's Ashes series to help the Bears build a roster to be competitive in a little over 18 months time. "This is bigger than me," Meninga said. "This new pioneering venture over to WA and the opportunity to be involved in the growth of the game, to grow a club the Perth Bears is too good to refuse. "I feel very honoured, very nervous, and I think it's a huge responsibility." The Bears can talk to off-contract players come November 1, but their hardest challenge may be winning over fans, sponsors and a media who are already heavily invested in the AFL. "Mal is an Immortal of the NRL, he is also an Immortal of our national sporting landscape, Mal is part of the Australian identity and we're honoured he's taken this opportunity," said club chief executive Anthony De Ceglie. "We've gone from one Bear in me, to two Bears in Mal, we've doubled our staff overnight. "It's small steps, we need to listen to the legacy of the North Sydney Bears and the fans in WA who have a proud tradition and who have kept the candle burning and we need to marry those two things together to make this a huge success." A former high-ranking executive at Seven West Media - the company which owns the AFL broadcast rights - De Ceglie knows the NRL's 18th side has work to do. Already the local Seven West-owned newspaper The West Australian has been critical of the venture which has been backed by WA State government cash. "Normally if you're doing something right, you have a few critics along the way," De Ceglie said. "I've been totally blown away by the amount of messages of people who want to get involved in the Perth Bears … I'm very optimistic this will be a huge success. "It'll be up to the Perth Bears to earn the respect of the newspaper. "If we're a success on the field, and if we're a success off the field, then we should be in those sports pages. "If we're not, the only people missing out are the readers of the newspaper." Meninga is yet to finalise his coaching staff nor a recruitment team who can help him bring the Perth roster together with a relatively short lead-in time. When the Redcliffe-based Dolphins entered the NRL in 2023 they missed out on several big-name targets in the recruitment space. But their squad - which won nine of their 24 games in their inaugural season - earned the respect of rival clubs for their effort and determination. "I don't think we'll have too many worries about talking to players and managers about the opportunity to come play in Perth," Meninga said. "We've got a story to tell. We have to understand what we're trying to achieve and that's my job initially to get the right people and resources around us to help understand what that story is." After unveiling Mal Meninga as the Perth Bears' inaugural head coach, the club's chief executive says criticism of the NRL's start-up franchise is proof they are on the right track to winning new supporters in the AFL-made West. At a press conference at League Central in Sydney on Friday, Meninga signed a three-year contract with the Bears, who will enter the NRL in 2027. It marks the 64-year-old's first foray into club coaching since he left the Canberra Raiders in 2001. Meninga will be 69 by the time his contract expires. The Immortal, who has enjoyed a decorated representative coaching career in charge of Queensland and Australia, will relinquish his role with the Kangaroos ahead of this year's Ashes series to help the Bears build a roster to be competitive in a little over 18 months time. "This is bigger than me," Meninga said. "This new pioneering venture over to WA and the opportunity to be involved in the growth of the game, to grow a club the Perth Bears is too good to refuse. "I feel very honoured, very nervous, and I think it's a huge responsibility." The Bears can talk to off-contract players come November 1, but their hardest challenge may be winning over fans, sponsors and a media who are already heavily invested in the AFL. "Mal is an Immortal of the NRL, he is also an Immortal of our national sporting landscape, Mal is part of the Australian identity and we're honoured he's taken this opportunity," said club chief executive Anthony De Ceglie. "We've gone from one Bear in me, to two Bears in Mal, we've doubled our staff overnight. "It's small steps, we need to listen to the legacy of the North Sydney Bears and the fans in WA who have a proud tradition and who have kept the candle burning and we need to marry those two things together to make this a huge success." A former high-ranking executive at Seven West Media - the company which owns the AFL broadcast rights - De Ceglie knows the NRL's 18th side has work to do. Already the local Seven West-owned newspaper The West Australian has been critical of the venture which has been backed by WA State government cash. "Normally if you're doing something right, you have a few critics along the way," De Ceglie said. "I've been totally blown away by the amount of messages of people who want to get involved in the Perth Bears … I'm very optimistic this will be a huge success. "It'll be up to the Perth Bears to earn the respect of the newspaper. "If we're a success on the field, and if we're a success off the field, then we should be in those sports pages. "If we're not, the only people missing out are the readers of the newspaper." Meninga is yet to finalise his coaching staff nor a recruitment team who can help him bring the Perth roster together with a relatively short lead-in time. When the Redcliffe-based Dolphins entered the NRL in 2023 they missed out on several big-name targets in the recruitment space. But their squad - which won nine of their 24 games in their inaugural season - earned the respect of rival clubs for their effort and determination. "I don't think we'll have too many worries about talking to players and managers about the opportunity to come play in Perth," Meninga said. "We've got a story to tell. We have to understand what we're trying to achieve and that's my job initially to get the right people and resources around us to help understand what that story is."
