Online group buying and deals start-up eSOLD.com.au has taken the next step on its growth path by appointing its first chairman – former CatchOfTheDay.com.au chief operating officer Mark Freidin.
Freidin told StartupSmart the time was right for eSOLD.com.au to bring on board outside help to focus on business processes such as warehousing and delivery systems.
“Like so many start-ups, it needs guidance,” he says, noting that entrepreneurs, when setting up a new business, can lose sight of “big picture” items like governance and compliance issues, legal matters and engaging with customers.
“As soon as you start making more than 50 to 80 sales a day you start to need process.”
eSOLD.com.au was launched by Ben Stefanescu and Adam Rowson in 2010, offering discounts on a range of goods, including DVD players, luggage, power tools and sports gear.
Freidin said the site was profitable and had recently received a cash injection from an investor, but declined to give the value of the investment.
The business has since grown with the launch of sister site discounton.com.au and the acquisition of dealfox.com.au and offyourtrolley.com.au.
Freidin’s appointment follows eSOLD.com.au hiring David Lowe as chief executive last month.
“Mark has runs on the board in the e-retail space and we are all extremely excited that he has joined our team in this very important strategic role,” Lowe says in a statement.