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18: 18. Michael Dwyer, Enterpreneur & Founder of Pigsback.com
Manage episode 396141137 series 3477363
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The idea of an entrepreneur giving up ‘a good job’ in order to pursue their own venture is hardly an isolated one, but few entrepreneurs would believe their journey could take 20 years, seeing off a dot-com crash, two terrorist attacks on either side of the Atlantic, and a global financial crisis – any one of which probably brought down many SME’s. But that is exactly what today’s guest did.
In 1999, Michael Dwyer sketched out the basis for his new venture on the front of an Irish Independent newspaper on a flight back from London, that would see him quit a marketing director role with Northern Foods to develop a hub on the internet to bring brands and consumers together in a way that works for both, using offers as a key attraction. And with that Pigsback.com was born.
What followed were thousands of squeezy pink pig stress relievers, multiple ups and downs that saw the business skirt perilously close to oblivion, and further fund raises, harsh cost cutting plans, illogical price from competitors – which proved to be their undoing - before finally selling the business in April 2019 to Secret Escapes for €25m.
In 1999, Michael Dwyer sketched out the basis for his new venture on the front of an Irish Independent newspaper on a flight back from London, that would see him quit a marketing director role with Northern Foods to develop a hub on the internet to bring brands and consumers together in a way that works for both, using offers as a key attraction. And with that Pigsback.com was born.
What followed were thousands of squeezy pink pig stress relievers, multiple ups and downs that saw the business skirt perilously close to oblivion, and further fund raises, harsh cost cutting plans, illogical price from competitors – which proved to be their undoing - before finally selling the business in April 2019 to Secret Escapes for €25m.
This is the 18th episode with guest Michael Dwyer, Entrepreneur and Founder of Pigsback.com in the Davy podcast series 'Everyday Business with Aidan Donnelly'.
This podcast brings you insightful conversation between Aidan Donnelly and entrepreneurs and business owners/management with their own unique story to tell. If you like what you hear, please like, share and subscribe.
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