CBA Invests $30m To Help Little Birdie Fly
Commonwealth Bank has poured $30 million into a new online shopping start-up, Little Birdie, giving the company a $130 million valuation and handing it one of the nation’s largest ever pre-launch funding rounds.
Little Birdie is aiming to build a ‘home page for online shopping’; according to chief executive Jon Beros, who said that, as part of the funding round, CBA will integrate Little Birdie shopping content into its app, used by its 11 million Australian customers.
Beros, a former long-time Scoopon executive, said the sizeable $30 million round was a direct reflection of Little Birdie‘s potential. The company is preparing to launch its platform in June 2021.