7 MyDeal

Retail marketplace MyDeal.com.au has made it into the top 10 of the Smart50 list again this year, having banked $29.7 million last financial year against an incredibly challenging retail backdrop.

Since MyDeal made last year’s list, founder Sam Senvirtne has secured $5 million of investment from investment firm Gandel Invest, and the company has been focused on cementing its brand footprint even further.

“Now that we have built a solid foundation with 35,000 products, up to 2 million visitors monthly and a new website, we will be expanding our offering, venturing into new segments and bringing on board larger retailers,” Senvirtne says.

The MyDeal platform provides service to both the 1000 supplies that sell their wares through the site, and the shoppers who visit the site to snap up bargains.

Having developed partnerships over the past year with the likes of Adobe and Australia Post, Senvirtne also sees the value in learning as much as possible about what sellers need from the Mydeal platform.

“I decided to conduct sales myself with established retailers so that they would be able to gain a better understanding of MyDeal Marketplace, our brand and our commitment to helping retailers sell online,” he says.

While he’s focused on detail, Senvirtne says it’s better to leave his team to work on the things they do best.

“I avoid micromanaging my executives and this gives them a sense of autonomy, which gives them space to be creative problem solvers,” he says when discussing how to motivate staff.

MyDeal now welcomes 2 million shoppers to the site each month, but the business says the work won’t be done until more retailers are listed on the platform.

“We will be expanding our offering, venturing into new segments and bringing on board larger retailers,” Senvirtne says.