The average order value is $US180 seven times that at online handmade goods marketplace Etsy and AHALife's margin is 50 per cent.
The app sends users a reminder when close contacts have a birthday, offers gift suggestions based on their gender or profile, sends the birthday boy or girl a link to the gift and offers them the opportunity to exchange it for another of the same value without offending the sender.
AHALife is one of almost a dozen US based technology stocks seeking to list in Australia through backdoor listings or initial public offers, taking advantage of strong investor appetite for early stage growth companies and easier listing requirements.
Backdoor listingsNew York based AHALife listed on the Australian stock exchange on Friday after raising a higher than expected $20.4 million from investors. The shares, which were issued at 45 each, traded as high as 49 before flat on debut.
AHALife chairman and Ironbridge Capital partner Mike Hill believes the app, which will be launched in September, will help the five year old online marketplace disrupt the $US124 million ($170 million) global gift card market and dramatically accelerate sales growth.
Registered users rose 61 per cent to 345,000 in the year ending June and revenues in the June quarter rose 52 per cent.
The company sells upmarket goods such as accessories, beauty products, sculptures and homewares on behalf of more than 2600 designers and operates a drop ship model to avoid holding inventory.
Australia is AHALife's third largest market and Ms Mei is looking for Australian "taste makers" to join the team of curators. She has also signed up several new local brands, including Cashmerism, which sells cashmere pashminas and scarves, and Code Love, which makes Morse code cufflinks.
The sender receives a text or email saying their gift has been accepted and only then are they asked for their credit card details. Chuffed at their own thoughtfulness, they're less likely to abandon the sale.
"Because you don't pay upfront and you've been thanked for your gift, it dramatically increases the conversion rate," Mr Devand said. "People only use apps if you're addressing a problem this app gives a gift on the run in 60 seconds."
Mr Hill says the valuation reflects the strong growth potential of the company, which boasts a team of high profile backers including wellness guru Deepak Chopra, former Saks Fifth Avenue chief executive Steve Sadove and former LVMH chairman Renaud Dutreil and curators including Wendy Deng, Lauren Bush and New York Fashion Week founder Fern Mallis.
Mr Hill, AHALife founder and chief executive Shauna Mei and chief technology officer Sachin Devand believe the app will attract new customers, dramatically reduce shopping cart abandonment rates, which can be as high as 99 per cent, and boost conversion rates.
锘緼HALife gives reluctant shoppers perfect gift all wrapped up in an app
Loss making AHALife has a market value of about $70 million, representing 18 times 2014 revenue.
"This is potentially the game changer or the accelerator," Mr Hill said. "We can market this app to our existing customer base and it will have a significant impact on revenue growth."
Ms Mei said funds raised would be used for customer acquisition, mainly in key US markets such as New York, San Francisco, Los Angeles and Miami.
Newly listed online marketplace AHALife has developed an app that promises to boost sales by eliminating the angst of buying gifts, and credit card uncertainty at the checkout.
The offer, underwritten by Blue Ocean Equities, was two times oversubscribed. However, the sharp fall in the Australian dollar since the investor roadshow kicked off in March had reduced the value of funds raised by about 16 per cent in US dollar terms.
锘緼nd Jobs CBS Philly
While the South Carolina investment is touted as a launch of the Volvo comeback from persistently lagging US sales, recent loosening of Chinese laws regarding foreign capital investments and a surge in US fast track immigration programs may be at play.
Concerns that Chinese ownership would compromise the Volvo brand have not materialized in the 5 years since its purchase from Ford.
The Chinese owners of Volvo, Zhejiang Geely Holdings, lured by a package of $200 million in bonds, grants and energy subsidies, are building a plant capable of producing 100,000 cars a year and expected to employ some 4,000 people at full capacity.
PHILADELPHIA (CBS) The recent announcement that Volvo would invest $500 million in its first US plant in Berkeley County, SC, near Charleston, is the latest development in the emergence of the American South as one of the world's leading centers for car, truck and aftermarket manufacturing.
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A recent test drive of the just updated Volvo V60 Wagon hit all the style, value and quality benchmarks for a $33,000 base to $48,000 loaded. An impressive new Drive E powertrain delivers 25 city 37 highway EPA mileage stats, punctuating the Volvo value equation.
锘縝ut she traded it in for life in a convent
was a wealthy San Francisco socialite her father was the chairman of ; her husband's father founded what became Pacific Gas and Electric. She lived a crowded, gregarious life chaired benefits, yachted in the Mediterranean, had separate glasses to match many of her outfits, and went to Elizabeth Arden four days a week. She had 10 children and 18 grandchildren.Not the woman who would be voted most likely to join a convent.In 1987, at two separate lunches at Trader Vic's one for her five daughters, another for her five sons she announced that she was joining a convent in two years. And not just any convent, but the strictest one of all a Carmelite monastery a cloistered and ascetic order. When word got out, some friends wondered why she didn't choose one of the more modern orders, or just retire and lead a quiet life filled with good work. But not her children, who today range in age from 56 to 38.The youngest, of Hillsborough, said of her mother's choice, "She would eat the whole carton of ice cream or none of it."During the two years while Elena finished college, Ann used the time to travel and "do everything she wanted to do," according to her oldest daughter, , 56, who lives in San Francisco.Then she threw herself a going away bash at the . " (Posted on 9/8/2015)
While it's clear 50's company isn't taking off the way he envisioned, this doesn't necessarily mean he is done. Some companies file for bankruptcy as a strategy to have debts reorganized. This is probably his way of trying to hit the reset button.
According to TMZ, legal papers show 50 Cent's SMS Promotions filed for bankruptcy in Connecticut court on May 25. 50 Cent's company recently put on a fight card in Connecticut on May 15. The papers showed the company had debts of between $100 500K.
锘?0 Cent's boxing company files for bankruptcy
50 Cent's boxing promotional company has filed for bankruptcy, but that does not mean the rapper is exiting the business.
50 Cent has been a boxing fan his whole life and used to be best friends with Floyd Mayweather, whose promotional company is thriving. In 2012, Fiddy signed boxers like Andre Dirrell and James Kirkland. Though his company may be in trouble, we doubt Fiddy's overall finances are hurting, especially if he really placed that $1.6 million bet on Mayweather over Manny Pacquiao.
The Trojans earned 21 of 45 votes, edging out the defending Pac 12 champion Oregon Ducks, who received the second most championship votes with 17. The Ducks and Trojans meet Saturday, Nov. 21 in Eugene in a potential preview of the Pac 12 title game.
Oregon and USC last faced in 2012 a 62 51 shootout won by UO in Los Angeles with the Ducks taking three of the last four meetings. The road team has won each of the last three games in the series.
USC was voted the overwhelming favorite to supplant Arizona as the Pac 12 South champion with 32 first place votes, followed by Arizona State and UCLA. Oregon (37 first place votes) was again picked to claim the North Division, with Stanford and Cal voted second and third, respectively.
The Ducks on Thursday were ranked fifth in the preseason USA Today coaches poll, while the Trojans came in at No. 10.
锘?2 championship in preseason media poll
The media poll has correctly selected the conference champion in 29 of 54 previous polls, including 12 of the last 15. Below are the results of the preseason media poll (points 6 5 4 3 2 1, first place votes in parentheses):
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