James Spenceley

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James Spenceley
James Spenceley headshot.jpg
Councillor of North Sydney Council
for St Leonards Ward
Assumed office
4 December 2021
Personal details
BornSeptember 1976 (age 47)
Sydney, Australia
Political party Independent
Occupation Venture capitalist, entrepreneur
Known forFounder of Vocus Group (ASX:VOC)
Chairman of Airtasker
Former owner of Illawarra Hawks NBL Basketball Team
Board Member Kogan.com (ASX:KGN)
Website jamesspenceley.com

James Spenceley (born September 1976) is an Australian investor, entrepreneur, company director and politician. He is the founder of Vocus Communications (now Vocus Group) and an active Venture Capital investor. He is also the Chairman of Airtasker (ASX:ART) and a Non-Executive Director of Kogan.com (ASX:KGN) as well as ASX listed Think Childcare Limited (ASX:TNK).

He has been recognised for his business achievements by twice winning the Ernst and Young Australian Entrepreneur of the year award (young and listed categories) [1] and in 2018 was inducted to the Telecommunications Industry Hall of Fame. [2]

Spenceley is most widely known for his role as the founder and former CEO of Australia's 4th largest fixed line telecommunications company Vocus Communications. [3] On June 25, 2021 Vocus was acquired by Macquarie Infrastructure and Real Assets (MIRA) and Aware Super for $3.5 billion. [4]

Spenceley started Vocus in September 2007 when he sold his house to initially fund the business. The company listed on the Australian Stock Exchange (ASX) in 2010. [5] When he stepped down as CEO of Vocus in March 2016 the company had revenues of greater than $1.8 billion. [6]

In 2016 Spenceley was listed at number 51 of Financial Review Rich List of 100 wealthiest Australian's under 40. [7]

Spenceley purchased the Wollongong Hawks (now Illawarra Hawks) NBL basketball team in July 2014 right before the start of the 2014/2015 season. [8] In October 2014, he laid out his plan to win a Grand Final within 3 years. [9] The team finished last in the 2014/2015 season, 4th in the 2015/2016 season and was runner up in the 2016/2017 season losing in the Grand Final to the Perth Wildcats. [10] In February 2018, Spenceley announced he had sold his interest in the Illawarra Hawks. [11]

In early 2021 the Australian Financial Review reported that Spenceley was preparing to list the wireless Telco Swoop Telecom [12] on the ASX with the backing of Tatterang, the family office of one of Australia's richest people Andrew Forrest. The business listed on the ASX under the code SWP raising $20m [13] and was up 150% on its first day of trading. [14]

He is an active Venture Capital investor, [15] with investments in the marketplace business Airtasker where he is now chairman of the board, Beforepay, Spaceship Financial Services, ASX Listed Buy Now Pay Later business Splitit (ASX:SPT) meal kit delivery service Marley Spoon (ASX:MMM), MoneyMe (ASX:MME) the online consumer lender which listed on the ASX in December 2019 and indoor vertical farming startup Sustenir. [16]

In 2017 and 2018 he was a national judge for the Australian Ernst & Young Entrepreneur of the Year Award. [17]

Spenceley announced in June 2021 that he was running as an independent for a position on North Sydney Council at the upcoming Local Government election. [18] At the subsequent election held on 4 December 2021, Spenceley was elected in first position as a Councillor for St Leonards Ward of North Sydney Council. [19]

Awards

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References

  1. 1 2 "EY".
  2. ↑ "Vocus founder James Spenceley inducted into CommsDay's Hall of Fame Telecom Industry Awards". prwire.com.au. Retrieved 6 August 2021.
  3. ↑ Ramli, David (28 September 2015). "Vocus to merge with M2 to create $3 billion telecommunications titan". The Sydney Morning Herald. Retrieved 28 November 2017.
  4. ↑ "Vocus set to be acquired by MIRA, Aware Super after court nod". CRN Australia. Retrieved 6 August 2021.
  5. ↑ White, Sue (20 February 2016). "Meet the boss: Vocus founder James Spenceley". The Sydney Morning Herald. Retrieved 29 November 2017.
  6. ↑ "CMO50 2016 #9: Jon Amery, Vocus". CMO Australia. Retrieved 22 June 2018.
  7. ↑ "BRW Young Rich 2016". Financial Review. 28 October 2016. Retrieved 28 November 2017.
  8. ↑ KEEBLE, TIM (14 July 2014). "It's official: James Spenceley takes on Wollongong Hawks". Illawarra Mercury. Retrieved 28 November 2017.
  9. ↑ "Spenceley lays platform for a new Hawks era". Illawarra Mercury. 9 October 2014. Retrieved 28 November 2017.
  10. ↑ "Resilient Illawarra Hawks prove pundits wrong to make NBL grand final". ABC News. 24 February 2017. Retrieved 22 June 2018.
  11. ↑ Mee, Cameron (6 February 2018). "Illawarra Hawks owner James Spenceley sells club". Illawarra Mercury. Retrieved 28 May 2018.
  12. ↑ "Twiggy, Spenceley cut deal to float telco play Swoop". Australian Financial Review. 17 February 2021. Retrieved 4 May 2021.
  13. ↑ "Swoop chairman James Spenceley on today's IPO, Airtasker's Zaarly play and his life as an ASX telco director". Stockhead. 26 May 2021. Retrieved 6 August 2021.
  14. ↑ "Dailytelegraph.com.au | Subscribe to The Daily Telegraph for exclusive stories" . Retrieved 6 August 2021.
  15. ↑ "Telco boss turned fund manager James Spenceley on small caps investing". Financial Review. 11 December 2017. Retrieved 22 June 2018.
  16. ↑ "Dailytelegraph.com.au | Subscribe to The Daily Telegraph for exclusive stories". www.dailytelegraph.com.au. Retrieved 1 August 2018.
  17. ↑ "EOY Judging". Ey.com. Retrieved 29 November 2017.
  18. ↑ Usher, Anna (21 June 2021). "Rich Lister James Spenceley throws hat in the ring for upcoming local elections". Mosman Collective. Retrieved 6 August 2021.
  19. ↑ "North Sydney - St Leonards Ward". NSW Local Council Elections 2021. NSW Electoral Commission. Retrieved 22 December 2021.
  20. ↑ "Dailytelegraph.com.au | Subscribe to The Daily Telegraph for exclusive stories". www.dailytelegraph.com.au. Retrieved 23 July 2018.
  21. ↑ "Vocus founder James Spenceley inducted into CommsDay's Hall of Fame Telecom Industry Awards" . Retrieved 22 June 2018.
  22. ↑ "Why you should hire crazy, smart people". Financial Review. 8 May 2015. Retrieved 29 May 2018.
  23. ↑ "Young Rich 2013: 81. James Spenceley". Financial Review. 29 November 2013. Retrieved 22 June 2018.
  24. ↑ Douglas, Jeanne-Vida (21 September 2011). "Tech kings dominate BRW Young Rich". The Sydney Morning Herald. Retrieved 22 June 2018.
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