Rich Lister’s ‘billion dollar’ company faces $79m loss

Primrose RiordanAssociate editor

Jun 23, 2024 – 12.03pm

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Rich Lister Shaun Bonett’s troubled gift card company Prezzee, which he has previously claimed is worth $1 billion, has reported a $79 million loss.

The loss covers an 18-month period until December 31 last year, and comes after The Australian Financial Review revealed the company was dropped by Amazon as part of an agreement to sell its gift cards in the US after a dispute with the tech giant. Amazon cards are one of the most popular gift cards among American customers.

Primrose Riordan covers private companies and family offices from the AFR's Sydney newsroom. Primrose was previously a correspondent for the Financial Times and covered foreign affairs and politics in Canberra. Primrose has won multiple awards for her journalism including from The National Press Club, SABEW in the US and Press Gazette in the UK. Message Primrose on Signal: https://tinyurl.com/PrimroseSignal