Aussie Skype challenger aims for $5M public listing

Aussie Skype challenger aims for $5M public listing

Wants to use funds to further fuel its global push

Australian-headquartered communications and collaboration software start-up, Spreedbox, is hoping to raise up to $4.95 million via an initial public offering (IPO).

The company, which wants to list publicly on the Australian Securities Exchange (ASX), said it hopes to use the funds to further fuel its global push to “become the tool of choice for cloud, data, and communication over the internet”.

“Our aim is to continue to scale up the business through increasing penetration of validated industry segments and international markets, expansion of our application offerings, and breaking into niches we can serve better than the likes of Whatsapp, Skype and Dropbox,” Spreedbox co-founder and chief architect, Niel Mache, said.

“The ASX listing will help facilitate this by delivering funds for increased R&D [research and development] spending, scaling up device production and increasing our visibility,” he said.

Spreedbox, which was founded less than two years ago, provides a platform for secure, private instant messaging, voice and video calls, and file sharing. All communications on the platform is end-to-end encrypted, with files self-hosted with Spreedbox.

The company claims to have already seen substantial uptake of its offering, with markets in Europe and South East Asia among the first to jump on board.

Already, the Spreedbox has built up a channel partner network, claiming IT solutions specialists in Australia and further afield, such as Advance Vision Technology in Melbourne, and audio visual distributor, Westan -- also in Melbourne.

The company claims its 100 per cent open source “Spreedbox device” encryption technology lets end users to communicate securely within a private and self-hosted cloud through voice and video calls, file exchange, and instant messaging.

For Mache, the technology is intended to provide the same services and features as Skype, Dropbox and WhatsApp, but at the same time secure the privacy of businesses and individuals through a self-hosted, private and secure appliance.

“Spreedbox leverages the nexus of three rapidly expanding and relevant markets – the privacy of instant messaging, online meetings and cloud storage – to address the very real security risks of a data breach,” Spreedbox CEO, Andrew Sivanandam, said.

The company’s initial offer is expected to close on 24 November, with trading of shares on the ASX anticipated to commence on 8 December, if the IPO goes top plan.

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