Last mile delivery biz Drive Yello, ordering app Hey You ink merger, raise next

Last mile delivery business Drive Yello and café ordering app Hey You have merged in a bid for a bigger slice of the market and will look to raise up to $15 million for the combined business early next year.Both companies’ existing shareholders have rolled in to a new top entity, 4YOU Innovation. That includes Drive Yello’s investors Tidal Ventures, beverage business Lion and founder Steve Fanale, and Hey You’s investors Alium Capital, Exto Partners and Reinventure in a 60-40 split.

Its merger partner, Hey You offers an advance ordering app for café pickups that’s popular in Sydney and just getting started in Melbourne and Brisbane. It takes a cut of the order value.Fanale, who would lead the merged business alongside his co-CEO Asheesh Chacko expects the merger to help both businesses expand.

Blackpeak Capital’s Scott Colvin advised on the merger and would also run the $15 million odd capital raise in the new year. It was early days for valuation, but similar businesses fetch about six-times revenue.

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Coal exports will last ‘as long as the market dictates’: PremierQueensland has the motivation to decarbonise rapidly as climate disasters have cost it about $30 billion between 1979 and 2019, more than any other state. the premier is a hypocrite She is addicted to coal royalty but she can not build enough hosp beds They approved solar farms n windmills as window dressing to cover up the coal export addiction We have all the cheap base-load energy in the world on our door step but these muppets want to export our resources to other countries. Meanwhile we the tax payer must wear the high cost burden of unreliable wind farm and solar energy. 🤡🤡🤡 AnnastaciaMP
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