Ten Smart50 success stories (and how you can be next)

Since 2007, the Smart50 list has showcased the 50 fastest-growing SMEs in Australia. Every year, SmartCompany profiles these successful companies and their founders, and keeps an eye on their progress — their origins, their expansions, acquisitions, pivots, new developments, and highs and lows.

Well, Smart50’s back — in person — in 2023. Entries are open and information can be found here. While we wait to see what excellence is in store this year, let’s take a look at some Smart50 alumni who went from big… to even bigger.

Atlassian

Atlassian started out in 2002 when founders Mike Cannon-Brookes and Scott Farquhar launched their own business instead of taking graduate positions. It has become one of the biggest success stories in Australian IT.

In 2008, it hit the Smart50 with $35 million in turnover. What followed would turn the founders into two of Australia’s wealthiest people.

The company became a champion of the future of work when, during the worst of the pandemic, it pledged to make remote work permanent. Co-founder Scott Farquhar even took aim at Elon Musk on Twitter, after the Tesla tycoon emailed employees about a 40-hour minimum commitment to on-site office work. Farquhar went on to spruik Atlassian’s flexible work options and call out to Musk’s disgruntled mob: “Any Tesla employees interested?”

In August last year, Atlassian came in third in its category in Great Place to Work’s Australia’s Best Workplaces 2022 list.

Atlassian founders Mike Cannon-Brookes and Scott Farquhar. Source: supplied.

Adore Beauty

One of the earliest online Australian success stories, Adore Beauty kicked off in 2000 and made the Smart50 in 2009, 2014 and 2019. The brand won the Top Retail Marketing Award at the 2022 Power Retail All Star Bash, and was named Top Beauty Retailer, Top User Experience, Top Social Retailer at the 2021 Awards. Adore remains at the forefront of e-commerce, scooping up new customers still making the switch to online shopping. In early 2022, then-CEO Tennealle O’Shannessy outlined the strategy to “cement our market leadership and position for us for the continued structural shift to online.

“Longer term we see significant additional addressable market opportunities through expanding into new business lines and geographies — the unique capabilities we have built around media and content, and personalisation, as well as our work on Private Label and geographic expansion into NZ position us for this,” she said.

Appliances Online

The online appliances site boomed its way to popularity with outstanding customer service, making the Smart50 in 2013. “Our customers are king,” chief executive John Winning said at the time. “Exceptional customer service has been the driving force behind Appliances Online’s success and the company is the first Australian online retailer with an Australian-based customer support team that’s available 24/7, every day of the year.”

Few changes have been made to the winning, customer-forward formula; the company continues to delight users and picked up gongs at the 2022 ORIAs for Best Pureplay Retailer, Customer Service Excellence, and Online Retailer of the Year.

Vinomofo

Since launching, Vinomofo has gone from disruptor to household name. Co-founders Justin Dry and Andre Eikmeier founded Vinomofo with $25,000 and hit $1 million in revenue in the first six months. It made the Smart50 in 2013, 2014 and 2015. In late 2021, it added cheese to the mix with the acquisition of Revel, the events company responsible for the Mould Cheese Festival and Pinot Palooza.

“As our customer base grows year on year, we are seeing demand for a more extensive offering, with tactile, engaging, fun experiences at the top of the must-have list,” said CEO Paul Edgington.

“2022 is going to be huge for us. Watch this space,” Dry said last year.

Showpo

Entering the Smart50 in third place and claiming the Top Retailer award category in 2014, Showpo has gone from strength to strength. Today it’s one of the most recognisable names in Australian online fashion retail and founder Jane Lu’s $47 million landed her on AFR’s 2021 Rich List. Showpo has worked with massive brands like Bonds, and most recently made the headlines via a partnership with Facebook parent company Meta, trialling AI-generated ad creative using 3D models.

Jane Lu, Showpo. Source: Supplied

MyDeal

MyDeal began in 2011 when founder Sean Senvirtne spoke with a number of SME owners, who made it clear they didn’t have the technical know-how to sell their own products online. It joined the Smart50 in 2016. In May 2022, it was acquired by Woolworths in a $243 million deal. Senvirtne, who still held 47.3% of shares in the company, voted in favour of the acquisition and said he was “excited to retain a significant and continued interest in MyDeal and to lead the business through its next stage of growth to become Australia’s leading marketplace”.

b. box for kids

Founded in 2007, B. Box for Kids made its way onto the Smart50 in 2016 with $5.7 million in revenue. A year later, it returned to the list, this time with $13.9 million. Today it’s an instantly recognisable brand in baby, infant and children’s products, has an international footprint, and has 300 products. Late last year, co-founder Monique Filer told SmartCompany of the brand’s ambitious plans for growth in Europe and the US, and also that hiring top talent was on the agenda for 2022.

Mr Yum

Mr Yum took out the Rising Star Award category in the 2021 Smart50. Since then the food and beverage ordering startup has acquired MyGuestlist, an integration that will allow users to mix data from Mr Yum, reservation platforms, point of sale systems and even wi-fi networks to allow restaurants to build bespoke communications and menu offerings to better target patrons. It’s all part of Mr Yum’s plan to become the Shopify for restaurants, a dream CEO and co-founder Kim Teo said was still “real, on our minds and on our agenda” in May. The company is also underway with expansions into the UK and US markets.

Mr Yum co-founders Adrian Osman, Kim Teo, Kerry Osborn, Andrei Miulescu. Source: supplied.

InstantScripts

The health tech startup took out the number one position in 2021, its $7.5 million revenue representing an astounding 1441.06% in growth, and followed up with seventh place in 2022.

It all started in 2017; co-founder Asher Freilich was working as a GP and saw how the system for prescriptions caused frustration for doctors and patients alike. InstantScripts allows doctors and patients to attend appointments and order medical scripts online. In August 2022, InstantScripts saw a 10% increase in valuation thanks to a $5 million investment from Bailador Technology Investments. COO Richard Skimin told SmartCompany InstantScripts will “continue to reinvest our earnings to support our mission of helping more Australians get convenient access to primary healthcare”.

In June 2023, InstantScripts was acquired by retail giant Wesfarmers through its subsidiary, Australian Pharmaceutical Industries, in a deal worth approximately $135 million.

LVLY

The flower delivery business entered the Smart50 in 2021 with a revenue of $13.9 million. With their experience in brand management, co-founders Hanna Spilva and Verity Tuck noticed a gap in the online flower and gift-giving market, and LVLY was born. “What started as a desire to spread joy has evolved into a fast-growth e-commerce business that has disrupted the Australian flower category and set new standards for same-day delivery,” the team said.

In April 2022, LVLY was acquired for $35 million by Limitless Technology, a tech firm based in Kuala Lumpur. “We’ve been through a period of rapid growth in the Australian market but have always had our sights set on becoming a global business,” said Spilva.

Who will be next?

This list is by no means exhaustive. Other big names we’ve welcomed over the years include July, Intrepid Travel, Catch, Anytime Fitness, Booktopia, Prospa, Laser Clinics Australia and more.

Who will join them in 2023? Entries are open now. Enter the running, or nominate a friend, here.