@woody1955 BIG NAME BACKERS So far, $US3.7 million ($5 million)...

@woody1955

BIG NAME BACKERS

So far, $US3.7 million ($5 million) has been invested in Buddy, with investments from Microsoft and AF Square, a fund set up by US singer Lady Gaga and her former manager Troy Carter.

Mr McLauchlan initially left Australia to join Microsoft in Seattle, where he worked for 11 years before leaving to found Buddy in 2011. He remained an adviser to the Bill & Melinda Gates Foundation.

"After 11 years, I felt like I had learned a tonne at Microsoft and I was keen to deploy that learning elsewhere. I also had a really incredible network," Mr McLauchlan told The Australian Financial Review.

"But, also I had a really good dialogue with Microsoft, I told them what I was planning to do and they were really supportive of this, obviously so much so that they put money in."

Buddy was the first investment made by Microsoft Ventures and the two businesses retain a close relationship.

"We're thrilled to see Buddy take this next step towards a leadership position on the global IoT (internet of things) stage" Microsoft Ventures general manager Scott Coleman said.

The above is an extract from AFR's article on Buddy's IPO through POK > http://www.copyright link/technology/buddy-ready-to-pour-gas-on-the-fire-with-ipo-20150719-gifv7k