From SEEK to Redbubble: Scaling Two & Three-Sided Marketplaces

Current Chief Executive Officer at Redbubble

Redbubble

Why is this company interesting?

Redbubble is an Australian-listed three-sided marketplace connecting individual artists, fulfilment partners, and customers. Artists upload unique designs and Redbubble partners with fulfillers to produce 'print-on-demand' (POD) products and ship to consumers.

Redbubble's competitive advantage lies in the 60m long tail of unique designs that drive organic traffic via SEO to customers looking for customised products. The flywheel starts with artists uploading designs, this unique content driving organic traffic which drives sales through the fulfilment network. As the fulfilment network scales, delivery time and cost declines which drives sales and the flywheel again.

Redbubble reminds us of Etsy in 2016; a marketplace with a unique and sticky supply side and a new CEO to focus the company on driving sales for sellers. RBL's 5-year revenue CAGR is +35% with gross margins over 40% and an estimated ~15% long term EBIT margins.

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Executive Bio

Michael Ilczynski

Current Chief Executive Officer at Redbubble

Michael is the Current CEO of Redbubble, the three-sided consumer marketplace listed in Australia. Prior to joining Redbubble, Michael spent 13 years at SEEK, a two-sided job marketplace, leading teams across strategy, product & technology and commercial operations, culminating as CEO Asia Pacific & Americas. Michael led over 3,000 employees across 11 countries covering the SEEK portfolio companies. Prior to SEEK, he worked at McKinsey & Company and previously served in the Australian Army Ready Reserve.Read more

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From SEEK to Redbubble: Scaling Two & Three-Sided Marketplaces(September 8, 2021)

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