M&A on the way as giants wait for the milk to sour at Aussie start-ups
Fast-delivery start-up Milkrun has big aims of taking down grocery goliaths such as Woolies and Coles. But the market has turned, and the giants could take it out.
During a conversation with a global Uber executive recently about the Australian tech scene, the topic turned to the much-feted start-up Milkrun.
The executive noted the company would soon face a fork in the road. Would the cash-burning, delivery company turn to the private markets for more funding to keep the electric bikes on the road? Or buckle and look to M&A?
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Mark Di Stefano is Rear Window columnist, based in the Sydney newsroom. He previously worked at BuzzFeed, the Financial Times and The Information before joining the Financial Review as a media and tech correspondent. Connect with Mark on Twitter. Email Mark at mark.distefano@afr.com
