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March 6, 2006

Trademe’s ultimate auction!

Posted by Sarah King in New Zealand

NZ online auction house TradeMe has just been sold despite earlier pledges of “I won’t sell” by baby-tycoon Sam Morgan. He started up the eBay wannabe site in 1999 and despite attempts to compete it remains the dominant auction house in NZ.

But get this - he sold it for $700million! That’s alot of dosh being thrown around by Fairfax and it’s ex-All Black CEO David Kirk.

Stuff (also in the Fairfax stable) have an article on it: Fairfax acquires Trade Me for $700m. Lets hope Fairfax don’t spoil the magic!

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