Original URL: http://www.theregister.co.uk/2011/11/14/grabble_walmart_acquisition/

Grabble heads for Silicon Valley

A long way from Wollongong for shopping startup

By Richard Chirgwin

Posted in Business, 14th November 2011 00:30 GMT

A startup from Wollongong which just handily happens to fit the “founded in a garage” narrative beloved of the tech sector has been acquired by WallMart and is off to Silicon Valley.

Grabble, established by Stuart Argue and Anthony Marcar, produces a point-of-service app for smartphones, was mentored by startup incubators Startmate and Pollenizer.

The original premise of Grabble was to allow retailers to send receipts to customers’ smartphones, so that instead of having to retain and manually capture receipts (for example, for tax or expense reports), a customer can track receipts in the app.

Silicon Valley money is flowing into Australia and New Zealand at the moment, with companies like Kaggle, Skitch, buyster and others either grabbing American VC dollars or being acquired outright.

It’s a scene that somewhat offsets a broader gloom in Australia’s IT industry, particularly in the gaming sector which has seen companies like Viscreal and Team Bondi shuttered. ®