The newspapers are now getting back in to classifieds, with both News Corp and Fairfax today each acquiring a 25 percent stake in a startup. News Corp Australia has acquired a 25 percent stake in hipages, Australia’s largest online platform for finding and hiring tradespeople, while Fairfax has acquired a stake in neighbourhood social platform Nabo.
Just six months after its launch, Australian community social network Nabo.com has acquired event listing website AroundYou.
The latest startup in Australia to enter this space is Nabo, founded by Adam Rigby, who also co-founded JumpOnIt and was the former CEO of LivingSocial. Launched yesterday, the startup carries $2.25 million in funding in its pocket, with investors including Reinventure Group and Seven West Media.