Deals Direct becomes Australia’s first publicly-traded pure-play online retailer: CEO says he’s on the acquisition hunt

Deals Direct began publicly trading today, after it successfully completed a backdoor listing that sees it become the first pure-play online retailer on the ASX.

Deals Direct CEO and co-founder Michael Rosenbaum tells SmartCompany they undertook a backdoor listing as it was a “speedier route to market”.

A backdoor listing involves a private company being acquired by a defunct listed shell company in exchange for shares in that company. This sees the private company become the new owner of the shell company, who then list their business through it.