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BOMB AUSTRALIA of Sydney’s Palm Beach, in which O’Hanlon was enjoying a moment of reflection. He was taking a series of self-portraits for his meticulously maintained ring-bound archive of photographs and letters, which he had kept for more than 40 years as a way of keeping track of himself. O’Hanlon had drifted back into Sydney just as Spike was about to engage with the world at large—the advertising executive had spent much of his life trying to avoid doing the same. But Spike Networks, one of Australia’s leading web designers, was gearing up for a $35 million public float.
Come November 1999, the company raised its $110 million from investors and ventured forth into the public shareholders’ realm. JB Were couldn’t have hoped for a better launch. 20 each. 95. It was the second best recorded performance of any newcomer to the Australian Stock Exchange, bettered only by another technology business, Open Telecommunications, which had floated the week before. And, with a market value of $455 million, it was also the country’s second largest internet float after Packers’ ecorp.
Its plush furnishings, elaborate wallpapers and multitudes of dimmed lights create a glamorous cavern for the pursuit of adrenalin-fuelled activities. That the Liberal Party of Australia chose to hold the gala dinner for its year 2000 national convention in its confines is a tribute in the same vein. A young internet entrepreneur, Damien Brady, had organised for his company to pay $31,000 to be the key sponsor of the event and for that he got to take to the podium and deliver the keynote speech.
Dot Bomb Australia