TradeMe Sold for $700 million
6 March 2006 in Business | Comments enabled

The New Zealand web success story that is Trademe has been sold for an amazing 700million dollars!

It’s great to see this sort of value being placed on a New Zealand technology company :-) Things are looking rosey for the NZ IT industry.

Congrats to the whole team :-)

Full Story: Fairfax acquires TradeMe for $700 million

- JD


2 comments. Add your own comment.

Johnny-Johnny says 6 March 2006 @ 08:49

How does TradeMe selling lead to ‘Things are looking rosey for Technology companies.’?
$700million was a little low, IMHO – the rumor mill said Sam Morgan was after $1billion and I think it would be worth that. Don’t you?

traskjd says 6 March 2006 @ 09:58

Just general activity in the market (Aftermail, Trademe) shows that there is some interest. Also good that the activity is in our own backyard. People are feeling comfortable again buying technology companies after many getting burnt 5 years ago.

$583 dollars per customer seems like a pretty good number to me (number comes from Dave5′s calculation).

– JD

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