Sam Morgan, who founded Trade Me in 1999, is set to make over NZ $220 million . Fairfax chief executive David Kirk said "I am delighted Sam Morgan will remain with Trade Me for a good period of time. We also welcome as new colleagues the entire Trade Me staff." TradeMe has 48 employees. "The business will be run absolutely as it is today. There's not a lot we can do to improve the way the business has been run and developed. " Trade Me is New Zealand's largest auction site, and became the most popular website in New Zealand in 2005. During peak hours, Trade Me has approximately 30,000 - 50,000 people on line at any one time, and 565,000 auctions running. Trade Me has about 1.2 million members . These statistics make Trade Me seem very popular since New Zealand's entire population is only around 4 million people. Trade Me accounts for over 60\% of New Zealand's web traffic. Trade Me logo The transaction needs to get final approval under the New Zealand Overseas Investment Act. This is expected to take place in April.
Sam Morgan, who founded Trade Me in 1999, is set to make over NZ $220 million. Fairfax chief executive David Kirk said "I am delighted Sam Morgan will remain with Trade Me for a good period of time. We also welcome as new colleagues the entire Trade Me staff." TradeMe has 48 employees. "The business will be run absolutely as it is today. There's not a lot we can do to improve the way the business has been run and developed." The purchase follows acquisitions of other online businesses worth A$200 million by Fairfax since the late 1990s, which according to its competitor News Corporation have produced limited returns. Trade Me is New Zealand's largest auction site, and became the most popular website in New Zealand in 2005. During peak hours, Trade Me has approximately 30,000 - 50,000 people on line at any one time, and 565,000 auctions running. Trade Me has about 1.2 million members , representing a sizeable proportion of New Zealand's population of around 4.2 million people. Trade Me accounts for over 60\% of New Zealand's web traffic. Trade Me logo The transaction needs to get final approval under the New Zealand Overseas Investment Act. This is expected to take place in April.
D
$220 million .
R
Fairfax chief executive David Kirk said "I am delighted Sam Morgan will remain with Trade Me for a good period of time. We also welcome as new colleagues the entire Trade Me staff." TradeMe has 48 employees.
$220 million. Fairfax chief executive David Kirk said "I am delighted Sam Morgan will remain with Trade Me for a good period of time. We also welcome as new colleagues the entire Trade Me staff." TradeMe has 48 employees. "The business will be run absolutely as it is today. There's not a lot we can do to improve the way the business has been run and developed." The purchase follows acquisitions of other online businesses worth A$200 million by Fairfax since the late 1990s, which according to its competitor News Corporation have produced limited returns.
D
"The business will be run absolutely as it is today. There's not a lot we can do to improve the way the business has been run and developed. "
R
. These statistics make Trade Me seem very popular since
, representing a sizeable proportion of
R
entire population is only around 4
population of around 4.2