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MYD - MyDeal.com.au Limited

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Founded in 2011, MyDeal is an Australian e-commerce group that has successfully established an Australian online retail marketplace specialising in household goods such as furniture and homewares.

MyDeal operates a marketplace model that acts as an intermediary, facilitating transactions between consumers and sellers. MyDeal has developed proprietary technology which allows the marketplace to scale quickly whilst still retaining a low-cost operating model.

MyDeal has over 800 Active Sellers and over 5 million product SKUs across 2,000 categories. Over 1 million products were sold in FY20 on the platform.

MyDeal has established a private label offering and intends to utilise its proprietary marketplace data to help grow this offering efficiently, whilst also driving gross margin for the MyDeal business.

It is anticipated that MYD will list on the ASX during October 2020.

 
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Day one.

Home and garden e-commerce marketplace specialising in household goods such as furniture and homewares MyDeal has surged more than 100 per cent on its debut on the stock exchange after it initial public offering was many times oversubscribed and no investors received their full allocation.

MyDeal raised $40 million in the IPO at an issue price of $1.00 a share, valuing the business at $258.8 million.

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bk1

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It's an an article of faith that i do not take part in IPOs, but hopefully this one relents enough so as to give a buying opportunity. Been waiting for this one to come to market as a leitmotiv for the eCommerce sector.
 
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Yes it certainly is the way forward in the immediate future, whether it stands the test of time who knows, but the business model makes sense on a lot of levels. Not only is discretionary spending becoming more cutthroat, buyers are becoming less discerning therefore the need to actually see the product in the flesh isn't as important as it was.
As was shown with catch.com, if an online trader has a good platform, there are plenty of bricks and mortar conglomerates that need to change their method of doing business and it is much easier to buy established than start from scratch.
The only downside to this business model is going to be saturation, once there is too many, it all becomes information overload. Then the ones with the marketing budget will get the front page and the others will slowly slip down the pages then their development dollars dry up. :2twocents

I don't hold, but will watch.
 
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