Rich Lister’s ‘billion dollar’ company faces $79m loss

Rich Lister Shaun Bonett’s troubled gift card company Prezzee, which he has previously claimed is worth $1 billion, has reported a $79 million loss.

The loss covers an 18-month period until December 31 last year, and comes after The Australian Financial Review revealed the company was dropped by Amazon as part of an agreement to sell its gift cards in the US after a dispute with the tech giant. Amazon cards are one of the most popular gift cards among American customers.