Spacetalk facts for kids
| Public company | |
| Traded as | ASX: SPA |
| Industry | Information technology |
| Founded | 2001 |
| Headquarters | Rose Park, South Australia, Australia |
|
Area served
|
Australia, United Kingdom, New Zealand, United States |
|
Key people
|
Simon Crowther (CEO) |
| Revenue |  A$15.12 million (2021) |
 A$−1.78 million (2021) |
Spacetalk Ltd. is an Australian technology company. It used to be known as MGM Wireless. The company's main office is in Adelaide, South Australia.
Spacetalk helps schools communicate with families. They send messages about things like student absences, important news, and emergencies. They use SMS (text messages), special apps, and cloud-based technology to do this.
Contents
How Spacetalk Started and Grew
Spacetalk was first started in 2001. It was called MGM Wireless back then. Three people named Mark Fortunatow, Greg Sincock, and Mark Hurd created it. The "MGM" in the name came from their first names. Mark Fortunatow was the boss, called the CEO, for 21 years. He helped the company grow and create new products. Mark Hurd worked on developing the products.
In 2003, their service called "messageyou" helped the government in South Australia reduce students missing school. By 2005, MGM Wireless services were available all over Australia. They also started trying out their services in other countries, like New Zealand in 2005 and the United States in 2006. In 2007, they even started trials in India.
MGM Wireless signed a big contract in 2007 with the Western Australian Education Department. This meant over 800 schools would use their services. In 2010, they became a preferred supplier for 400 schools in New Zealand. By 2011, MGM Wireless also started helping childcare centers in Australia and New Zealand.
Creating the Spacetalk Watch
In 2015, Mark Fortunatow saw that smart wearable devices were becoming popular. He thought it would be a good idea for the company to make smartwatches for children. This was a natural step after their school messaging business.
The money to develop the Spacetalk watch came from the successful school messaging business. That part of the company made a profit even while the watch was being developed.
In September 2017, MGM Wireless launched its new product: the Spacetalk watch. This watch helps families stay connected and keep children safe. It works like a mobile phone and a watch together. Parents can use it to find their children using mobile phone signals. The Spacetalk watch does not let kids access the internet, social media, or other apps. This helps keep children safe online.
The Spacetalk watch has won an Australian good design award. You can buy it in many stores in Australia and New Zealand. In May 2019, the product was officially launched in the UK.
A Sad Loss and a New Name
In 2017, Mark Hurd, one of the founders, passed away. His family sold his shares in the company and gave the money to his old school, Westminster Schools. The school used the money to build a great new facility called the Hurd Design Laboratories. This building helps students learn about science, engineering, IT, and design. Mark Hurd also set up a scholarship at Adelaide University to help students.
On November 12, 2020, the company changed its name from MGM Wireless to Spacetalk Ltd. This new name showed that their main focus was now on creating and selling innovative wearable devices like the Spacetalk watch.
Spacetalk Watch Success
The Spacetalk watch became a very successful part of the business. The company's income grew a lot, from $2.62 million in 2017 to $20.7 million in 2022. During this time, the company's value also increased significantly.
Spacetalk watches were sold in over 2,000 stores in Europe, the UK, and America. This included big stores like Best Buy in the USA and mobile phone companies like Sky Mobile and O2. Spacetalk was seen as a leading children's smartwatch in these markets.
How Spacetalk is Managed
Company Leadership
A group of people called the board of directors manages the company. Most of these people are not directly involved in the company's daily work. As of July 2022, some of the board members included Georg Chmiel, Mark Fortunatow, Martin Pretty, Dr Brandon Gien, Saurabh Jain, and Mike Rann.
Changes in Leadership and Focus
On February 3, 2023, Simon Crowther became the new CEO and Managing Director of Spacetalk. He decided to change the company's main focus. The company would now focus on selling services for the Telstra mobile network.
Soon after, on February 10, 2023, Mark Fortunatow, one of the original founders, sold his shares in the company. This meant that none of the original founders were involved in the company anymore.
In March 2023, Spacetalk announced that it would close all its international operations. This included its successful businesses in Europe, the UK, and the USA. These international sales made up 40% of the company's income in June 2022 and were growing fast. When Spacetalk left these markets, its closest competitor, Xplora Technologies, grew a lot.
On May 10, 2023, the company announced a new plan to improve its business. This plan focused on selling Jumpy SIM cards and only selling products in Australia and New Zealand. They also decided to rebrand all their products, including the old MGM Wireless school messaging service, under the Spacetalk name.
