Very interesting to see that Afterpay has increased its stake to 45% in Changeup as reported in the Australian today.
Not sure how many people who were originally Touch holders are still around, but for those with a longer memory, Changeup was one of Adrian Cleese’s most exciting prospects (he was talking in up on conference calls even whilst Afterpay was booming!). My recollection was that although the concept was simple, execution was technically demanding and it has a very high gross margin.
I always assumed that Changeup was effectively shelved with the merger and Adrian’s death which resulted in loss of leadership/direction in Touch, but nice to see that Afterpay has acquired a controlling stake and plans to leverage its user base in this way. Will certainly be interesting to see it play out.
APT Price at posting:
$23.79 Sentiment: Buy Disclosure: Held
