On 17 March last year The Newsagency Blog posted a release from Matt Handbury and his exit from any involvement with Hubbed and confirming his resignation as a director as Hubbed. He also said that he was yet to be repaid the funds he had extended to Hubbed for a consideration of a 51 per cent shareholding in Hubbed which was never forthcoming.
Handbury has made the following comment to The Newsagency Blog:
As newsagents have been informed over the past week, my new company blueshyft is launching a software and hardware platform through Nparcel to facilitate the introduction of new suppliers in the parcel delivery and cash payments businesses to newsagents.
blueshyft is the product of a deep investigation of the most effective and profitable execution of this new revenue stream for newsagents. My abortive experience with Hubbed may have left me out of pocket, but my involvement with that venture and the analysis and development subsequently undertaken by my team at blueshyft has only strengthened my conviction about the unrealised potential of the Australian newsagency network.
Given that legal proceedings have been commenced by the Deputy Commissioner of Taxation, I do not wish to comment on Hubbed, other than to record that since January 2014 I have not had confidence in the management of the company. My involvement with the board and management of the company came to end in January 2014.
I have continued to be deeply dismayed by the serious overlooking by publishers, in particular, of the value of newsagents as a critical part of adaptation to the digital economy.
I believe blueshyft is the first fully researched platform to address this issue. Hence our adoption by Nparcel and partnership with XchangeIT.
It would cause me great sadness to find that my deep commitment to the newsagency industry – particularly on the back of the history of our wonderful business relationship established during my ownership of Murdoch Magazines – is misinterpreted in the light of my costly and frustrating involvement with Hubbed.
I am convinced that the Australian newsagency industry will regard blueshyft as a true pioneer and a valuable partner for all newsagents, helping take their rightful place at the centre of retail business in the evolving on-line retail space and the digital economy. See www.blueshyft.com.au for details on my new business and its offering to newsagents
For real ? Give me a break.
Why do I feel uneasy about anything that anyone says about being on the side of newsagents?
We haven’t had a good deal in this space before and I am sceptical about it now.
Maybe 39 years in this industry has taught me to be very very wary of “Greeks bearing gifts” (and we all know that the Greeks are in a bit of trouble)f
Sorry to say this but this looks more and more like another BillXpress I am glad I did not get involve with them
There are a few factors I want to comment on here:
1. I thought Hubbed was a dud from the outset for reasons I explained fully in this place on several occasions. Those posts are still live at this blog under the category: Hubbed. I particularly did not like the two contracts as that approach did, in my opinion, have a Bill Express feel.
2. Matt was public about his reasons for withdrawing from Hubbed at the time.
3. The ANF is yet to be clear about their due diligence before actively promoting Hubbed and the ANF is yet to get some newsagents out of Hubbed who want out.
4. blueshyft looks interesting. I like that there is no capex requirement on newsagents. I also like that it is building on an established network even if I do have the view associations should not own and run businesses.
5. I have no commercial involvement in blueshyft.