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From Teen Student Entrepreneur in Australia to a Mature Global E-commerce Entrepreneur: Mike Rosenbaum, CEO of Spacer (Part 6)
Sramana Mitra: What are the metrics? How many buy side and how many sell side do you have? Mike Rosenbaum: We have over 50,000 locations across Australia and over 200,000 members on our platform. In the US, we have over 10,000 locations now. It’s growing rapidly. The key thing for us is to keep balancing
From Teen Student Entrepreneur in Australia to a Mature Global E-commerce Entrepreneur: Mike Rosenbaum, CEO of Spacer (Part 5)
Sramana Mitra: What worked? Mike Rosenbaum: It’s hard to say when we started getting product-market fit. Over time, we just got better and better at targeting the right customers whether that was through Google or Facebook or offline channels. Eventually, it was word of mouth. Now, most of our new supply is people telling other
From Teen Student Entrepreneur in Australia to a Mature Global E-commerce Entrepreneur: Mike Rosenbaum, CEO of Spacer (Part 4)
Sramana Mitra: Did you launch with your own money? Mike Rosenbaum: We made a lot of mistakes as well. We did okay. I put in some of my money. I had a new co-founder, Roland. He came from private equity background and had a very complementary skillset. He was more of a finance and strategy
From Teen Student Entrepreneur in Australia to a Mature Global E-commerce Entrepreneur: Mike Rosenbaum, CEO of Spacer (Part 3)
Sramana Mitra: What about customer acquisition? When you’re selling on eBay, eBay provides the foot traffic. Mike Rosenbaum: It was the early days of e-commerce. There was a much smaller number of people shopping online. We had built this large database off eBay which we used to sell direct. We would send emails to them.
From Teen Student Entrepreneur in Australia to a Mature Global E-commerce Entrepreneur: Mike Rosenbaum, CEO of Spacer (Part 2)
Sramana Mitra: What was your business model? They gave you inventory on consignment and you sold it on eBay. What percentage did you take? Mike Rosenbaum: I think it was about 15%. We’re talking about high-value goods. Our average item was a couple of thousand dollars. Sramana Mitra: It was a substantial transaction size. You
From Teen Student Entrepreneur in Australia to a Mature Global E-commerce Entrepreneur: Mike Rosenbaum, CEO of Spacer (Part 1)
Mike started his journey as a 14-year old student entrepreneur, then built a $20M eBay PowerSeller business. Thereafter, he built a $100M e-commerce business. Today, he’s building a two-sided marketplace business. All from Australia. Wonderful story! Sramana Mitra: Let’s go to the very beginning of your journey. Where are you from? Where were you born,
