Feeds

Cellnet moves into online retail

Nearly a million for a startup equals Off Your Trolley

Build a business case: developing custom apps

ASX listed telecommunications accessories distributor Cellnet has taken a strategic stake in online discount grocery start-up, Off Your Trolley.

Cellnet said that the strategic investment was the next step in it's online strategy and expects Off Your Trolley to make a positive contribution to its earnings in the current financial year.

The fledgling online budget e-tailer launched in March of this year and is Australia's first dedicated grocery deals website.

The founders, Stacey Carlon and Sarah Costin have backgrounds in FMCG account management, inventory and online retail and marketing and started the site as a side project to their day jobs.

The investment will help the start-up to broaden its product range, upgrade its online platform and expand its marketing strategy.

Cellnet did not disclose the amount of the investment but did disclose that it had received options in Off Your Trolley that may see its shareholding increase and would issue Carlon and Costin with 750,000 Cellnet options each with an exercise price of AU$0.60 cents per share, representing a combined AU$900,000,

The options are subject to business performance targets which will be exerciseable in July 2014.

Under the arrangement Cellnet will step in to provide warehousing, distribution and logistics services to Off Your Trolley. ®

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.