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Fonebox founder Jordan Grives sells telco service provider for a reported $30 million

A multi-billion dollar NASDAQ-listed company has purchased Fonebox from founder and chief executive Jordan Grives for a reported $30 million. 

The deal with J2 Global means Grives, who started Fonebox in 2008 when he was 18, will continue with the Brisbane-based telecommunication company along with his 80 staff. He is also stablishing his own venture capital fund, Capital J Investments.

“I see my purpose, as a Brisbane young entrepreneur who has had one of the most successful business exits at the age of 27, to facilitate and help others to do the same,” he said.

Grives grew Fonebox into one of the largest inbound B2B telcos nationally, servicing 13, 1300 and 1800 numbers, call routing, tracking and phone answering for some of Australia’s biggest brands and companies from its Brisbane headquarters and contact centre.

He said the company, which is reported to have generated nearly $10 million in 2015-16, will “enter into an exciting era of growth” but assured clients ‘it will be business as usual”.

“The past nine years have been an incredible journey,” he said.

“We’ve employed a total of 158 staff, processed over 80 million calls, answered two and a half million calls on behalf of our clients.

“Chances are if you’ve called a 13, 1300 or 1800 number it’s been hosted by Fonebox.”

Grives is a 2016 EY Entrepreneur of the Year awards finalist and in June was recognised as Brisbane’s top fundraiser and Ambassador for the St Vinnies CEO Sleepout, raising nearly $60,000.

Attribution: Fonebox founder Jordan Grives sells telco service provider for a reported $30 million