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Published 18 September 2013 15:21, Updated 29 November 2013 09:57
Mitchell Harper (left) and Eddie Machaalani. Photo: Louie Douvis
After three rounds of fund-raising, Mitchell Harper and Eddie Machaalani reckon they’ve raised enough money to take their e-commerce software platform, Bigcommerce, to the next level.
In July, US venture capital fund Revolution Growth made its biggest ever investment, $US40 million ($43 million), in Bigcommerce.
The pair started Bigcommerce in 2009. The company’s software and retail platform enables small businesses and start-ups to set up their own online stores.
The company has already raised $US35 million from other US-based venture capitalists in the past two years and is on track to manage $US3 billion worth of transactions by the end of the year.
They have strong connections to the US, opening an office in Austin, Texas – rather than Silicon Valley – soon after forming Bigcommerce.
They met the new-fashioned way – in an internet chat room – in 2003 and wrote code for 18 hours a day for their first website Interspire, which also helped people sell their goods online.