Telstra Corporation Limited
(ASX:TLS) have announced a majority investment in e-commerce platform Neto.
The fast-growing Brisbane-based company started four years ago and provides cloud-based software that allows small to medium businesses to almost instantly create and manage an online store.
Customers include brands such as The Spotlight Group, Drizabone and Edible Blooms.
Telstra believes the web presence and e-commerce needs of small to medium sized businesses will rise from 58 per cent today to over 82 per cent in the next five years.
Telstra reported a net profit of $2.1 billion for the first six months of the 2015 financial year.
