LIVEHIRE LISTS WITH $10M IPO TO FUND EXPANSION

Written on the 10 June 2016

LIVEHIRE LISTS WITH $10M IPO TO FUND EXPANSION

TECHNOLOGY company LiveHire (ASX:LVH) is set to accelerate growth plans after raising $10 million through an IPO.

A total of 50 million new shares were issued at 20c apiece, with the shareprice settling at 19c after commencing trading on the ASX today.

LiveHire was launched in 2011 as a marketplace connecting employers with talent on-demand in the resources sector.

The Melbourne-based company now offers a cloud-based human resources productivity platform aimed at all enterprises, to turn recruitment from reactive to proactive. A client's brand is leveraged into a private community with hiring managers and potential candidates.

LiveHire co-founder and managing director Antonluigi Gozzi says the capital will be used to pursue new markets in Australia and develop sales capabilities.

"Amongst other things, listing on the ASX provides us with the capital to expand our sales team and achieve significant growth for the business, primarily focused around our key performance metric, Talent Community connections, as well as transparency and awareness for potential clients to have comfort we are a technology company that will continue to deliver above and beyond their needs," Gozzi says.

LiveHire's 'Talent Community Connections' have increased 183 per cent at the end of last year to more than 130,000 users.

Growth is expected to continue with a number of cornerstone clients in targeted industries in the works. The company has already partnered with Ernst & Young, Michael Hill, Bupa and Ertech.

Morgan & Banks co-founder Geoff Morgan has been appointed to the board as non-executive chairman, after backing the venture with business partner Andrew Banks last April.

"We have an established value proposition for our clients and a clear strategy to take the business to the next stage of its development," Morgan says.

"Listing on the ASX will enable LiveHire to scale our client and user base, accelerate our sales and marketing efforts and partner with select recruitment partner firms."

 


Latest News

THE COMPANY THAT DECIDED IT WAS GOING TO GIVE A CRAP THANKS TO CROWD FUNDING

SIMON Griffiths is using toilet paper to save the world.

In 2012, on the back of an IndieGoGo crowdfunding campaig...

TECHNOLOGYONE OUTSTRIPS PROFIT EXPECTATIONS AS R&D SKYROCKETS

TECHNOLOGYONE (ASX: TNE) has surpassed market expectations to achieve a half-year profit after tax of $8.1 million, u...

CLASS ACTION FILED AGAINST SURFSTITCH AFTER ANOTHER EARNINGS WIPEOUT

AS ONLINE retailer SurfStitch (ASX: SRF) battles for survival following another negative earnings forecast, a $100 mi...

SURFSTITCH DOWNGRADES EARNINGS AS SHARES PLUNGE 25 PER CENT IN A DAY

TROUBLED online sports clothing retailer SurfStitch is considering selling off more of its assets and will close i...

Related News

THE COMPANY THAT DECIDED IT WAS GOING TO GIVE A CRAP THANKS TO CROWD FUNDING

SIMON Griffiths is using toilet paper to save the world.

In 2012, on the back of an IndieGoGo crowdfunding campaig...

SURFSTITCH DOWNGRADES EARNINGS AS SHARES PLUNGE 25 PER CENT IN A DAY

TROUBLED online sports clothing retailer SurfStitch is considering selling off more of its assets and will close i...

AUSCANN RESUMES TRADE AFTER $12 MILLION CAPITAL RAISING

IT'S BEEN a big few days for medical cannabis manufacturer AusCann (ASX: AC8), as the company emerged from a trad...

APN AND oOh!media MERGER CALLED OFF, CEO 'AMAZED' AT ACCC'S DECISION

THE PROPOSED $1.6 billion merger between Australia's two largest advertising groups, APN (ASX: APO) and oOh!me...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter