MyDeal

Overview

MyDeal was an Australian online retail marketplace founded in 2011 in Melbourne by Sri Lankan-born entrepreneur Sean Senvirtne. It specialised in home and lifestyle categories — furniture, homewares, garden, appliances and general merchandise — connecting more than a thousand third-party sellers with Australian consumers under a discount-led “deals” positioning. After listing on the ASX in 2020 and growing to over a million active customers, MyDeal was majority-acquired by Woolworths Group in 2022. Woolworths ultimately closed the consumer website on 30 September 2025, redirecting the domain to its Big W Market marketplace and consolidating the technology and seller base into its integrated retail marketplaces.

What they’re known for

MyDeal was distinctively known as Australia’s leading pure-play marketplace for the home, furniture and garden category — bulky, high-consideration household goods that most horizontal marketplaces underserved. It built its brand on a value/“deals” promise: no subscription or insertion fees for sellers and a competitively low commission structure, so sellers could pass savings to shoppers. It is also remembered as one of two big Australian third-party marketplaces (alongside Wesfarmers’ Catch) that a major grocery retailer bought during the pandemic e-commerce boom and then shut down in 2025.

History

• 2011 — Sean Senvirtne founds MyDeal.com.au in Melbourne (some sources cite 2012 for the trading launch), bootstrapping the business.
• 2020 (Oct) — MyDeal completes an IPO on the ASX (ticker MYD) at A$1.00 per share, raising ~A$29.4M and valuing the company near A$191M; shares open at an ~80% premium.
• FY2021 — Gross sales more than double to A$218.1M as pandemic e-commerce demand surges; active customers grow ~83% past 894,000.
• 2022 (Mar) — Reaches over 1 million active customers.
• 2022 (May–Sep) — Woolworths Group agrees to acquire ~80% of MyDeal at A$1.05/share (~A$243M valuation); ACCC does not oppose; scheme approved and completed 14/23 September 2022. Senvirtne retains ~20% and continues to lead.
• 2022 (Oct) — Data breach exposes personal data of ~2.2 million customers via a compromised CRM credential.
• 2025 (Jun) — Woolworths announces closure of the MyDeal customer website.
• 2025 (Sep 30) — MyDeal shuts to consumers; domain redirects to Big W Market; “best deals” move to Big W from 1 October.

Business model

MyDeal operated primarily as a third-party (3P) marketplace: it did not hold most inventory, instead listing products from independent sellers and earning a commission on each sale. It positioned its fee structure as seller-friendly — no subscription fees, no insertion/listing fees, and no commission on shipping — with a deliberately low commission rate designed to keep prices competitive. It later added a smaller first-party / private-label range that contributed directly to gross sales (e.g. ~A$8.8M in FY2021). Revenue was therefore a blend of marketplace take-rate commissions plus private-label margin, supplemented by seller and advertising services. Under Woolworths, MyDeal sat within the MarketPlus division alongside Everyday Market and Big W Market.

Why it succeeded (and why Woolworths closed it)

MyDeal succeeded by owning a category that generalist marketplaces handled poorly: bulky home, furniture and garden goods. A low, transparent fee structure attracted a long tail of local sellers, while a value/deals brand and heavy mobile-app investment drove repeat purchasing (returning customers were nearly 60% of sales by FY22). The COVID-19 e-commerce surge accelerated everything — gross sales doubled to A$218.1M in FY2021 and reached A$272.2M in FY2022 — making MyDeal attractive enough for Woolworths to pay ~A$243M for control, aiming to bolt on general-merchandise marketplace capability.

The closure, however, was less a collapse than a portfolio decision by its parent. Woolworths CEO Amanda Bardwell cited an “intensely competitive environment and the superior economics of marketplaces integrated into retail brands” and concluded MyDeal lacked “a clear path to profitability or the prospect of a reasonable return on capital.” Standalone marketplace margins were thin, the 2022 data breach dented trust, and a separate MyDeal-branded destination duplicated what Woolworths could achieve inside its trusted Big W and Woolworths banners. The company took a A$90–100M cash cost plus ~A$45M in impairments to close it — retaining MyDeal’s platform, tech and seller relationships to power Big W Market and Everyday Market instead. It closed in the same year Wesfarmers wound down rival Catch, underlining how hard independent horizontal marketplaces are to run profitably in Australia.

Notable facts

• Gross sales grew from A$218.1M (FY2021) to A$272.2M (FY2022), up ~24.8% year on year.
• Surpassed 1 million active customers in early 2022; ~1.05M by FY22.
• IPO’d on the ASX in October 2020 at A$1.00/share, opening ~80% higher.
• Woolworths acquired 80.2% for a ~A$243M valuation (A$1.05/share) in September 2022; founder kept ~20%.
• Marketplace scale at acquisition: 6+ million products from ~1,900 sellers.
• Returning customers made up nearly 60% of sales by Q1 FY22.
• October 2022 data breach exposed personal data of ~2.2 million customers (email-only for ~1.2M); no passwords or payment data taken.
• Closure cost Woolworths A$90–100M in cash plus ~A$45M in non-cash impairments.

Links

Title	URL	Type	Note
MyDeal — Wikipedia	https://en.wikipedia.org/wiki/MyDeal	article	Overview: founding, IPO, acquisition, closure
Official site (now redirects to Big W Market)	https://www.mydeal.com.au	official-site	Former MyDeal domain; 301-redirects to bigw.com.au/marketplace
MyDeal.com.au (ASX:MYD) has completed an IPO	https://www.oaklins.com/au/en/deals/106636/	report	2020 IPO details: A$29.4M raised, ~A$191M cap
MyDeal delivers record revenue as customers flock to online shopping	https://insideretail.com.au/business/financial/mydeal-delivers-record-revenue-as-customers-flock-to-online-shopping-202107	article	FY21 gross sales doubled to A$218.1M
MyDeal’s first quarter brings record sales, customers	https://internetretailing.com.au/mydeals-first-quarter-brings-record-sales-customers/	article	Q1 FY22: A$69.5M gross sales, ~929k active customers
Former Smart50 finalist MyDeal acquired by Woolworths in $243 million deal	https://www.smartcompany.com.au/finance/mergers-and-acquisitions/mydeal-acquired-woolworths-in-243-million-deal/	news	Acquisition terms, A$1.05/share, 80% stake
MyDeal data breach notification (Woolworths Group)	https://www.woolworthsgroup.com.au/au/en/our-newsroom/latest-news/2022/mydeal-data-breach-notification.html	official-site	Official Oct 2022 breach disclosure (~2.2M customers)
MyDeal data breach impacts 2.2M users, stolen data for sale online	https://www.bleepingcomputer.com/news/security/mydeal-data-breach-impacts-22m-users-stolen-data-for-sale-online/	news	Independent breach coverage and threat-actor detail
Woolworths to close MyDeal online marketplace in digital business refocus	https://insideretail.com.au/sectors/woolworths-to-close-mydeal-online-marketplace-in-digital-business-refocus-202506	news	Closure announcement, reasons and costs
Woolworths to close MyDeal, move “best deals” to Big W	https://www.smartcompany.com.au/retail/mydeal-woolworths-group-closure-big-w-online-marketplace/	news	Sep 30 2025 shutdown; Big W transition; Catch context
MyDeal website to shut, paving way for Big W	https://www.ragtrader.com.au/news/mydeal-website-to-shut-paving-way-for-big-w	news	Closure timeline and rationale
Woolworths to close MyDeal website to reduce MarketPlus losses	https://finance.yahoo.com/news/woolworths-close-mydeal-website-reduce-130251384.html	news	MarketPlus loss reduction, breach reference