New zealands most visited site just sold for $700 million bucks!
this site is THE reason ebay has no customer base in new zealand..
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06/03/2006Newstalk ZBSam Morgan is New Zealand's 700 million dollar man as media company Fairfax buys the TradeMe internet auction site he set up in 1999 at the age of 23.
TradeMe's owners will pick up an additional $50 million over the next two financial years, if the company meets its profit targets. Fairfax says Mr Morgan and other key executives will stay with the company.
TradeMe is the most visited internet site in New Zealand, with more than two million domestic visitors a month. Fairfax says the site accounts for more than 60 percent of the country's web traffic. Its 1.2 million members are expected to host 35 million auctions this year. TradeMe is based in Wellington and has 48 employees.
Fairfax says it intends to operate the site as a stand alone business with its own growth trajectory.
David Kirk, Fairfax CEO says "the acquisition of TradeMe reshapes Fairfax's earnings and business mix as part of our more aggressive push into the internet in all markets in which we operate. As a result of our successful online investments, we are now a significantly more diversified media company."
http://xtramsn.co.nz/news/0,,11964-5484712,00.html
this site is THE reason ebay has no customer base in new zealand..
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06/03/2006Newstalk ZBSam Morgan is New Zealand's 700 million dollar man as media company Fairfax buys the TradeMe internet auction site he set up in 1999 at the age of 23.
TradeMe's owners will pick up an additional $50 million over the next two financial years, if the company meets its profit targets. Fairfax says Mr Morgan and other key executives will stay with the company.
TradeMe is the most visited internet site in New Zealand, with more than two million domestic visitors a month. Fairfax says the site accounts for more than 60 percent of the country's web traffic. Its 1.2 million members are expected to host 35 million auctions this year. TradeMe is based in Wellington and has 48 employees.
Fairfax says it intends to operate the site as a stand alone business with its own growth trajectory.
David Kirk, Fairfax CEO says "the acquisition of TradeMe reshapes Fairfax's earnings and business mix as part of our more aggressive push into the internet in all markets in which we operate. As a result of our successful online investments, we are now a significantly more diversified media company."
http://xtramsn.co.nz/news/0,,11964-5484712,00.html
you wouldnt believe how many people have tried starting new auctons sites here
