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Ergo: Flower's young entrepreneur group Magnate blossoms

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Garret Flower of ParkOffice

Garret Flower of ParkOffice

Garret Flower of ParkOffice

Serial entrepreneur Garret Flower, founder of parking technology company ParkOffice, has got to work on his latest project - except this time it isn't for profit.

Flower has created the "Magnate100 community", a group of 100 promising entrepreneurs and individuals.

Magnate100 leverages many well-established platform technologies such as Slack and Zoom to share information in real-time and coordinate invitation-only meetings to learn and connect with fellow members.

The group's idea has been described as the "newest incarnation of the old-style business and private members clubs". The group said some of those more traditional clubs had struggled to connect with the newer generation.

Flower told Ergo the group uses the platforms to "ask questions, share ideas, keep ourselves accountable and collaborate on new projects".

"This group has been set up at a time when so many of us are forced apart," he said.

"The group is capped at 100 to maximise collaboration so that everyone can become familiar and feel comfortable to pick up a phone to one another. If people don't engage or can't be seen to be adding value to the community, they are removed, and new members are invited to join. We already have a long waiting list."

Fellow members of Magnate include entrepreneurs Andrew Mackin, of Mackin Consultancy; Pamela Laird, of Moxi Loves; and Devan Hughes, of Buymie.

 

StarBlue's $437m sale to Sangoma means joy for Foy

Irish investor Alan Foy will be happy with the recent sale of StarBlue, the enterprise communications business he headed up.

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Canadian company Sangoma Technologies Corporation, which specialises in cloud-based communications-as-a-service solutions, was reported to have agreed to buy the company from Foy's private equity firm VentureWave.

Ergo has learned Sangoma is to pay around $437m for StarBlue, consisting of $105m in cash and 110 million common shares of Sangoma. The transaction will be subject to approval by Sangoma shareholders in late March or early April 2021

StarBlue was created in 2018 following the merger of Ireland-based Blueface and Floridian Star2Star. Irish private equity group VentureWave Capital invested in Blueface in 2011.


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