Feeds

Cellnet moves into online retail

Nearly a million for a startup equals Off Your Trolley

High performance access to file storage

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. ®

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Nokia offers 'voluntary retirement' to 6,000+ Indian employees
India's 'predictability and stability' cited as mobe-maker's tax payment deadline nears
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
Adrian Mole author Sue Townsend dies at 68
RIP Blighty's best-selling author of the 1980s
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Analysts: Bright future for smartphones, tablets, wearables
There's plenty of good money to be made if you stay out of the PC market
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.