From a Secondhand Desk to a $120M Exit: Mark Samlal's Story

Mark Samlal grew up as one of the only Indian families in a small Perth township, went on to co-found a payroll company from a secondhand desk in Singapore with his wife Samantha, and eventually listed it on the ASX as PayGroup. In 2022 Deel acquired the business in an all-cash deal worth $120M at a 143% premium to market. In this conversation Mark talks about the racism he faced growing up, the "4 or out the door" sales mentality that shaped his early career, what it actually feels like to run a public company, and why he's stayed on at Deel almost four years after the acquisition. He also opens up about the guilt of building a business while raising three daughters, and the pull he's feeling to reconnect with his roots in Fiji and India.Timestamps00:00 – Cold open: race, accountability, and the "4 or out the door" origin story01:55 – Younger Mark: born in Fiji, his father's journey from teacher to social worker09:23 – University, meeting Samantha, and the early grind in real estate15:56 – Into telecom, then payroll software — learning on the job21:43 – Meeting mentor Phil Cave and turning around Lendlease Employer Services32:40 – Racism growing up and being "the only brown person in the room"37:59 – The move to Singapore and building the Sharks Basketball community43:13 – Running multiple businesses at once and bootstrapping PayAsia with Samantha51:25 – Skipping VC/PE, and what it's really like leading a public company1:05:36 – COVID, 3 acquisitions, and the road to the Deel deal1:09:52 – The Deel acquisition: $120M all-cash, 143% premium1:13:34 – Culture shock joining Deel, AI's impact on HR/payroll, and why he's stayed1:27:03 – Raising 3 daughters, fatherhood, and business regrets1:38:34 – The Pingyao story, undervaluing Asian entrepreneurs, and where he's headed nextSponsors:Perspective X is supported by our wonderful sponsors:Deel:Global hiring and payroll can be a headache. Deel brings HR, IT and payroll together in one platform, helping companies including Shopify, Revolut and ElevenLabs scale internationally.Ready to expand your business?Build your global team with Deel at deel.com/dayone.Perspective X is part of Day One.Day One helps founders and startup operators make better business decisions more often. To learn more, join our newsletter to be notified of new Perspective X episodes and upcoming shows.Mentioned in this episode:Deel x PX_Script 1Deel x PX_Script 2