A Melbourne-based start-up that has created a new social media network to connect users who have similar interests has commenced an $8 million (¬£6.44 million) to $10 million (¬£8.05 million) capital raising to help it expand around the country and then overseas.
If successful, the major capital raise for Hobspot is expected to close by April and follows a $450,000 (¬£362,289) raise in June last year from a range of private investors including former iiNet chief information officer Matt Toohey, EY managing partner of the western region and Oceania strategic growth Michael Anghie and rich-lister property developer Nigel Satterley.
The network, which is initially targeting international students who are looking for a way to make friends during university, was founded by friends Sam Ethell, Alfonso Ordonez and Gustavo Campos after Mr Ethell and Mr Ordonez met at an Oktoberfest party in 2014 and bonded over their mutual love of US college basketball.
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