Singapore — Last September, Mdada was just a livestreaming sales platform that debuted to very little fanfare. It was started by celebrity hairstylist Addy Lee, actor-host Pornsak and former Mediacorp actress Michelle Chia.
Over the past year, the company has grown and according to a CNBC article on Nov 1, the platform commands a weekly revenue of $500,000.
According to the report, Mdada made $3.9 million in revenue for the months of August and September this year.
Mdada has more than five million live stream views, over 28,000 followers and almost 30 employees.
Pornsak, 39 told CNBC’s Inside E-Commerce that the secret to Mdada’s success is “entertainment”.
He explained: “You need to plan your show because this is not just selling, this is infotainment. Entertainment needs to be high, and that can be very challenging because sometimes even I myself run out of ideas.”
The actor also told Singapore Business Review (SBR) last month: “Consumers are no longer looking for well-priced affordable and quality products and services these days, they are also looking for an out-of-the-norm shopping experience that can engage them as they watch the live-stream sales during their free and personal time.”
In August, Mdada’s physical livestreaming hub was launched, and its compound comprises 11 livestreaming studios and a warehouse. Previously it was reported that the platform sells almost anything and everything from skincare products to perfume for pets to million-dollar cars. However, the most expensive item they have sold was a Rolex Daytona Green Dial worth $120,000, reported Asia One.
The company refused to reveal their specific earnings figures but said that they are profitable. For the financial year (ended Sept 30), the company’s unaudited revenue was about $15 million.
Mdada announced on Oct 19 that they will be sending their full team of livestreamers for an induction programme with a line-up of potential partners from Europe, including beauty, wellness, fashion brands and merchants with a significant presence in Southeast Asia.
Pornsak told CNBC that the company trains their sellers, who are also called “key opinion leaders”. They learn “exactly what to sell, when to sell, and who to sell to”.
Most recently, former Mediacorp artist Shane Pow joined the ranks of their sellers after his release from prison. He told 96.3 Hao FM’s DJ Anna that he will be heading to Germany with Pornsak for a livestream.
“I believe we’ll be selling German facial products,” he said. /TISG
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