Dot-com era survivor Melbourne IT rebrands as digital agency Arq Group
Melbourne IT, the digital services company that once had the monopoly on Australian commercial domain names, has rebranded today as Arq Group.
Under the new name, the company plans to widen its product offerings with services ranging from digital marketing and website design through to cloud and mobile analytics, along with an expansion that will see its headcount grow from 850 to 1,120.
Martin Mercer, CEO of Arq Group
The company was founded in 1996 as one of Melbourne University’s commercial ventures and had the sole rights to manage .au domains in the early days of the internet.
Melbourne University spun the company off with a stock market float at the dot-com boom’s peak in December 1999. The controversial listing saw the company’s shares close at $8.20 at the end of its first day of trading, up from the $2.20 listing price at the start of the day.
A subsequent inquiry by the Victorian government ombudsman found the float had been carried out properly.
The stock eventually peaked at $14.21 in March 2000, before collapsing to 93 cents a year later. The company never recovered its peak, despite taking over various digital services companies including Web Central in 2006.
Yesterday the shares closed at $3.36.
Martin Mercer, the CEO of the newly named Arq Group said the rebrand is about putting the company’s past behind it.
“The Arq Group moniker has been incredibly well received by our employees, customers, partners and our shareholders.
“I am excited to have the honour of leading the group under our new name, a name which truly speaks to our future and not our past.”
“By uniting our wide range of services, cultures and people under one banner, we now have unparalleled expertise across the digital services space. From design thinking and customer solutions, best in class mobile, cloud and analytical insights solutions, to digital marketing and website design. We are truly Australia’s leading digital partner, powering the growth of businesses, big and small.”
“By uniting our wide range of services, cultures and people under one banner, we now have unparalleled expertise across…”
yeah the culture must be real good there. you only have to look at the level of (non) customer service provided to know all the customers who brought the value (those willing to pay $149 for a domain name that costs $25) moved onto other providers a long time ago.
ever since its been a revolving door or debacles and rubbish customer service.
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