Destra Corporation
{{Other uses|Destra (disambiguation){{!}}Destra}}
{{Use dmy dates|date=June 2015}}
{{Use Australian English|date=June 2015}}
{{Infobox company
| name = Destra Corporation Limited
| traded_as = ASX: DES
| foundation = 1993
As a public company: 2000{{cite news|last=Ryan |first=Paul |title=What I Have Learnt (the hard way) |newspaper=Australian Anthill |date=1 October 2008 |url=http://anthillonline.com/what-i-have-learnt-the-hard-way-domenic-carosa/ |archiveurl=https://web.archive.org/web/20140714213257/http://anthillonline.com/what-i-have-learnt-the-hard-way-domenic-carosa/ |archivedate=14 July 2014 |url-status=dead |df=dmy }}
| defunct = {{end date|df=yes|2008|11|13}}
| industry = Digital media
| location = Melbourne, Australia
| key_people = Domenic Carosa (founder)
| fate = Entered administration in 2008
}}
Destra Corporation Limited, previously known as Sprint Corporation and Ehyou, was an independent Australian media and entertainment company based in Richmond, Victoria founded by Domenic Carosa.{{cite news |title=Destra (DES) 25c |url=http://www.theaustralian.news.com.au/story/0,25197,22766019-23634,00.html |archive-url=https://web.archive.org/web/20071210094022/http://www.theaustralian.news.com.au/story/0,25197,22766019-23634,00.html |url-status=dead |archive-date=10 December 2007 |newspaper=The Australian |date=2007-11-16 |accessdate=2007-11-26 |df=dmy-all }} Destra grew through a series of acquisitions and was briefly one of the largest online music distributors in Australia, while also offering hosting and domain registry. Its shareholders included Prime Media, whose stake represented 44% at April 2008.{{cite news|url=http://www.heraldsun.com.au/businessold/destra-founder-ditched/story-e6frfh4f-1111116134749|title=Destra chief Dominic Carosa sacked |first1=Fleur |last1=Leyden |first2=Rhys |last2=Haynes|date=23 April 2008|newspaper=Herald Sun}}
Following the collapse of Opes Prime in 2007, Destra lost $76.9 million between 2007 and early 2008. The company was split into a number of divisions before its subsidiaries were sold. It became defunct in November 2008.
History
Domenic Carosa and Anna Carosa founded Destra Corporation in 1993. The Carosas were teenagers when they conceived the concept, which they originally called Sprint. Initially, the company owned entertainment websites in Australia and formed Ozhosting.com in 1995 to provide hosting to small businesses.{{cite news|last1=Bourlifoufas|first1=Nicki|title=Another punt on net value: second dotcom boom |url=http://www.theaustralian.com.au/archive/business/another-punt-on-net-value-second-dotcom-boom/story-e6frg9hf-1225844009522|newspaper=The Australian|date=26 March 2010}} Sprint Corporation purchased a number of smaller Australian-based hosting companies over the next couple of years to increase its market share in the hosting market. This included BlueFire and GlobalHost, which operated under the OzHosting.com brand.
In 2000, Sprint was rebranded as Ehyou to expand into other online fields besides hosting. This included the purchase of mp3.com.au, an online music and digital downloads site.{{cite web |last1=Nogrady |first1=Bianca|title='Jack of all trades' becomes media master|url=http://www.swinburne.edu.au/magazine/1/52/jack-of-all-trades-becomes-media-master/|publisher=Swineburne University|date=March 2008}} Over the next couple of years, Destra expanded its hosting offerings geographically through acquisitions of Cyberhost, lasiaworks, and Ocean Internet's hosting division. Destra also acquired Webtrader in January 2001 to further diversify its services. The company was then integrated under its OzHosting subsidiary, making the hosting brand the second largest retail hosting company in Australia.{{cite web |last1=Ryan |first1=Paul |title=What I have learnt (the hard way) – Domenic Carosa |url=http://anthillonline.com/what-i-have-learnt-the-hard-way-domenic-carosa/ |publisher=Anthill Online |date=1 October 2008 |url-status=dead |archiveurl=https://web.archive.org/web/20140714213257/http://anthillonline.com/what-i-have-learnt-the-hard-way-domenic-carosa/ |archivedate=14 July 2014 |df=dmy }} During 2002, Destra continued to acquire hosting companies, including Enet21 and SuperHosting, and a 60% controlling interest in TPP Internet, which was one of Australia's largest domain name registrars at the time.{{cite web|title=Destra Acquires Controlling Interest in TPP Internet One of Australia's Largest Domain Name Registrars|url=http://uk.tophosts.com/destra-acquires-controlling-interest-in-tpp-internet-one-of-australias-largest-domain-name-registrars|publisher=TopHosts|date=20 May 2013}}{{Dead link|date=August 2024 |bot=InternetArchiveBot |fix-attempted=yes }}
In 2004, the OzHosting brand was shelved, and OzHosting and Techex merged to form Destra. The same year, Destra won the PowerTel Partner of the Year award.{{cite web|title=destra launches destra Business & wins PowerTel Partner of the Year award|url=http://www.cso.com.au/mediareleases/4144/destra-launches-destra-business-wins-powertel-part/|publisher=CSO.com.au|date=23 February 2005}} Within a year, the company reached a partnership agreement with Yahoo! to create a new suite of services that would be integrated into its subsidiary, OzHosting.{{cite news|title=Destra, Yahoo! add new features for SMEs |url=https://www.zdnet.com/article/destra-yahoo-add-new-features-for-smes/|work=ZDNet|date=18 May 2004}} In 2005, Destra reported revenue of over $15 million, up 73% from the previous year, with revenues of $15.739 million, up 73 percent.{{cite web|last1=Corner|first1=Stuart|title=Destra Corporation reports maiden full year profit|url=http://www.itwire.com/deals/1870-destra-corporation-reports-maiden-full-year-profit.html|publisher=IT Wire|date=12 September 2005}}
In 2006, Destra was the largest digital music provider in Australia, with more than 1.3 million tracks in its online music catalogue.{{cite press release|url=http://www.pcworld.idg.com.au/mediareleases/8045/destra-music-largest-digital-music-provider-in-aus/ |author=Destra |publisher=PC Word |date=11 January 2006 |archivedate=9 January 2016 |archiveurl=https://web.archive.org/web/20160109011451/http://www.pcworld.idg.com.au/mediareleases/8045/destra-music-largest-digital-music-provider-in-aus/ |title=destra Music - largest digital music provider in Australia |url-status=dead |df=dmy }} At the time, the company was developing advertising revenue streams across its websites.{{cite news|url=http://www.smh.com.au/news/business/destra-buys-ad-company-for-12m/2006/09/03/1157222010908.html |newspaper=The Sydney Morning Herald |publisher=Fairfax Media |date=4 September 2006 |title=Destra buys ad company for $12m |archiveurl=https://web.archive.org/web/20071130002108/http://www.smh.com.au/news/business/destra-buys-ad-company-for-12m/2006/09/03/1157222010908.html |archivedate=30 November 2007 |url-status=dead |df=dmy }}
Destra was greatly affected by the collapse of Opes Prime in 2008.{{cite news|last1=Urban|first1=Rebecca|title=Little-known Opes, spectacular failure |url=http://www.theaustralian.com.au/archive/business-old/little-known-opes-spectacular-failure/story-e6frg96f-1111115978405?nk=60e2287d89c5bc6697080751b9f1f4ca-1473090475|newspaper=The Australian|date=5 April 2008}}{{cite news|last1=Sharma|first1=Mahesh|title=Destra board suffers Opes fallout|url=http://www.theaustralian.com.au/business/media/destra-board-suffers-opes-fallout/story-e6frg996-1111116135166 |newspaper=The Australian|date=23 April 2008}}{{cite web|last1=Waters|first1=Cara|title=Directors refusing appointments and considering resigning because of red tape and liability: Research|url=http://www.smartcompany.com.au/people-human-resources/leadership/30424-directors-refusing-appointments-and-considering-resigning-because-of-red-tape-and-liability-research/|publisher=Smart Company|date=20 February 2013|access-date=26 September 2016|archive-date=12 October 2016|archive-url=https://web.archive.org/web/20161012063318/http://www.smartcompany.com.au/people-human-resources/leadership/30424-directors-refusing-appointments-and-considering-resigning-because-of-red-tape-and-liability-research/|url-status=dead}} In 2007–2008, Destra lost $76.9 million, having made 13 acquisitions in the previous three years.{{cite news|url=http://www.smartcompany.com.au/growth/economy/735-.html |publisher=Smart Company |first=James |last=Thomson |date=26 August 2008 |title=Destra slumps to big loss and slams former CEO Dominic Carosa's strategy |archiveurl=https://web.archive.org/web/20160109005908/http://www.smartcompany.com.au/growth/economy/735-.html |archivedate=9 January 2016 |url-status=dead |df=dmy }} In November 2008, Destra's divisions were sold in administration{{cite news|title=Destra in voluntary administration |newspaper=The Sydney Morning Herald |publisher=Fairfax Media |archiveurl=https://web.archive.org/web/20120305172417/http://news.smh.com.au/business/destra-in-voluntary-administration-20081113-65ym.html |archivedate=5 March 2012 |date=13 November 2008 |url=http://news.smh.com.au/business/destra-in-voluntary-administration-20081113-65ym.html |agency=AAP |url-status=dead |df=dmy }}{{cite news|url=http://www.smartcompany.com.au/finance/3670-.html |title=Destra placed in administration. What went wrong? |publisher=Smart company |first=James |last=Thomson |date=14 November 2008 |archiveurl=https://web.archive.org/web/20151211011122/http://www.smartcompany.com.au/finance/3670-.html |archivedate=11 December 2015 |url-status=dead |df=dmy }} to companies including Fremantle Media; Central Station Records; Brand New Media; Eddie MacGuire's Visual Entertainment Group; and Dominet Digital.{{cite news|last1=Akerman|first1=Pia|title=Burnt but cool with the outcome |url=http://www.theaustralian.com.au/news/nation/burnt-but-cool-with-the-outcome/story-e6frg6nf-1226097865334|newspaper=The Australian|date=20 July 2011}}
References
{{reflist}}
External links
- [http://www.destra.com/ Destra.com company website]
Category:Companies formerly listed on the Australian Securities Exchange