Tuesday, 02 June 2015 20:41

Neto acquisition will expand Telstra’s e-commerce market presence Featured


Telstra is boosting its position in the online retail market by buying local online e-commerce platform Neto.

Telstra will take a majority stake in the company after announcing it has entered into a binding transaction agreement with the Brisbane-based company. What Telstra is paying for Neto, and other terms of the investment, have not been disclosed.

Neto, which launched in 2011, provides a cloud-based e-commerce solution that allows small to medium sized retailers and wholesalers to quickly establish an end-to-end online store.

Current customers of Neto include The Spotlight Group, Anaconda, Drizabone and Edible Blooms and, according to the company, it also has a strong relationship and integration with eBay, with a majority of its customers also having a presence on eBay.

Telstra Business Group Managing Director, Will Irving said the investment in Neto is a logical fit for Telstra as the technology needs of business customers change with the digital revolution in retail.

“We estimate that by 2020, 82% of SMEs will have a web presence, rising from 58% today.

“The role of e-commerce will only become more important in the competitive retail environment. The Neto platform allows businesses to meet the needs of customers at their convenience: where they want and when they want.

“Neto is a truly innovative Australian company and our investment will represent a great opportunity to deliver value to our customers.”

Neto Founder and Director, Ryan Murtagh, said that the investment to be made by Telstra means that the company will have an opportunity to expand at a faster rate and help Australian retailers compete on a global scale.

“We started Neto four years ago and have grown rapidly during that time as online shopping has become mainstream.

There is still so much growth to occur though, especially in the Australian market, and the investment to be made by Telstra will give us the scale and scope to maximise our growth.”

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Peter Dinham

Peter Dinham - retired in 2020. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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