Plenty of Fish founder Markus Frind hooks a new CEO gig at B.C. e-commerce company Cymax

Markus Frind became chief executive officer of Cymax Group Technologies Ltd. this week, and owns about 70 per cent of the company.Markus Frind has dabbled in a range of businesses since selling his profitable online-dating business Plenty of Fish Media Inc. to Match Group for US$575-million in 2015, including real estate, winemaking, steel production, soil-testing and

Burnaby, B.C.-based Cymax operates an online marketplace for furniture and home furnishing vendors to sell and ship their wares through its websites and others including Amazon.com, Walmart.com and Houzz.com. It also operates an online freight logistics platform that matches sellers to shippers. Sales rebounded to $140-million in 2015, the year Mr. Frind, Business Development Bank of Canada and Salman Partners invested US$25-million, but fluctuated in the following years as Cymax tightened operations and mined sales, returns and listings data to look for ways to improve margins. It became profitable in 2018 and chief operating officer Rizwan Somji succeeded Mr. Fasihi as CEO in 2019 after Mr. Frind became majority owner.

Source: News Formal (newsformal.com)

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