Feeds

Aussie e-com start-up buyster gets bought

US e-tailer Wayfair in dotcom deal

Intelligent flash storage arrays

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
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.