2014: Trade Me Group Limited
Last updated : 12/2014
Trade Me Group Limited (TME.NZX: TME.ASX) is an online marketplace and classified advertising platform in New Zealand, spanning auctions and fixed price sales for new and used goods, with automotive, real estate and employment businesses. The Company also has Web businesses specializing in accommodation, dating and group buying. In addition, it sells advertising across its portfolio of Websites. The Company’s business portfolio consists of general Items, motors, property, jobs, advertising, and travel.
Trade Me was founded in 1999 by New Zealand entrepreneur Sam Morgan, who sold it to Fairfax in 2006 for NZ$700 million. Trade Me's website is the most visited in New Zealand before Google New Zealand, and is ranked 1,213th globally according to Alexa Internet. In 2006, the group of sites collectively generated over 60% of all web traffic originating in New Zealand. In a country with a population around 4.5 million, the Trade Me site currently has around 3,371,624 active members, with approximately 127,960 people online.
Trade Me Group Limited (TME) listed on the NZSX on 12 December 2011. The Trade Me IPO raised a total of NZ$363.5 million and a total of 134.6 million shares have been issued to new investors (including those issued to Trade Me staff under the Executive Share Plan). In 2012 Trade Me Group acquired the business Holiday Homes, AutoBase and cloud-based inventory management tool Tradevine and moved into NZX 50. In December 2012, Fairfax announced it was looking to sell off its stake in Trade Me in order to pay off debts. The sale was confirmed on 17 December.
In 2013 Trade Me agreed to acquire MotorWeb for $19.5 million in cash to deepen its motor vehicle offering by adding a business forecast to lift earnings in 2014. In August 2013, the company acquired LifeDirect, an online comparison website for life and health insurance after divesting its group-buying website Treat Me in April 2013 through management buy-out.
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