Gold Coast-based music streaming business Guvera is listing on the ASX to raise up to $100 million, valuing the company at up to $1.3 billion.
The stratospheric valuation is huge for the business which made $1.2 million in revenue in the 2015 financial year, with a net loss of $81.1million, up from a $29 million loss the year before.
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Yolanda Redrup is the co-editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
John Stensholt is a former editor of the BRW Rich 200 and Young Rich Lists.
