How MyDeal grew its sales 10x in only five years
Five years ago when Sean Senvirtne, founder of e-commerce marketplace MyDeal, caught up with SmartCompany after being nominated for the Smart50 awards, he stated a bold goal.
He was gunning for MyDeal to hit $300 million per year in sales over the next five years. At the time, MyDeal was on track to hit $30 million in sales for the year.
“I remember chatting with (former SmartCompany journalist) Dominic Powell afterwards and I thought, maybe that number was a little high,” Senvirtne recalls with a chuckle.
Today MyDeal is listed on the Australian Stock Exchange, and in its latest annual report disclosed gross sales of $218.1 million. Senvirtne says MyDeal booked $70 million in sales for the most recent quarter, putting the company on track to hit that $300 million sales goal in the not too distant future.