Feeds

Aussie e-com start-up buyster gets bought

US e-tailer Wayfair in dotcom deal

Top 5 reasons to deploy VMware with Tegile

Australian e-commerce start-up buyster.com.au has been snapped up by US home goods e-tailer Wayfair for an undisclosed sum.

Founded in January 2009, buyster is an online home goods retail store featuring over 35,000 products from 600 brands. The company launched as a JV between Rupert Murdoch backed technology investment company Netus and CSN Stores, the owner of Wayfair.

buyster Managing Director Kylie Little said that the increasing investment from Wayfair will allow the fledgling company to grow its range and international reach. The outfit plans to double its customer service team immediately and add more buyers to the mix – all from local Australian candidates. buyster also partners exclusively with Australian suppliers, around 400 currently and plans to add to that list of local suppliers on an ongoing basis.

“buyster is now a significant e-commerce business in Australia, growing at a fast rate with a strong local team,” said Netus Chairman Daniel Petre. “It leverages the world-class platform and innovative business model of Wayfair. As a result, there are significant synergies for Wayfair in fully integrating buyster into its global operation, now that the startup is well established. We are proud of the achievements of the Buyster team and look forward to the ongoing success of Buyster in the Australian market.”

Wayfair would not confirm how much Netus sold its 50 percent shareholding for but said it had received $US165 million in institutional funding in June, which allowed them to pursue the buyout.

Wayfair, which expects to surpass the $US500 million mark by the end of 2011, now has three locations in the US as well as international offices in Galway, Ireland, London, Munich and Sydney. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.