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April 10, 2006
Why No Trade Me Talk?
I had someone email an interesting question: Why was there so little discussion of the Trade Me acquisition when it happened in early March? A kind of Kiwi Ebay, Trade Me's 1.2-million members host 35m auctions a day. The company was acquired for $428mm (if my Kiwi currency calculation is correct), which is impressive for a 50-person company founded in 1999.A partial answer is that the deal, while sizable, didn't happen at the Center of the Universe. Another answer is that Ebay-type auction market is largely considered to be over and settled. It isn't, as this acquisition shows.
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$428,000 should = $US 428,000,000.
Argh, fixed. Thanks.
i used ebay once in 1999. now that i live in new zealand, i use trade me weekly to buy-sell, and look daily. it is what ebay should have been.
as far as a deal. the whole country is ripe for aquisitions, i dont see anything special about this.