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Topic # 6941 6-Mar-2006 08:54
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Just heard on the news that Trademe has been sold to Fairfax for $700 million..


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Reply # 29963 6-Mar-2006 08:57
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Yes, when in business you always have an exit strategy. In Internet businesses it seems the most common exit strategy is "Sell".





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Reply # 29965 6-Mar-2006 09:07
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How long till they snap GZ up......... ?
(Is that a goal at all?)




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Reply # 29966 6-Mar-2006 09:10
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Not bad for a business started in 1999. $700M is probably 6 times earnings. That would make Mr Morgan one of NZ's richest people.

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Reply # 29969 6-Mar-2006 09:14
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Interestingly enough someone asked other day about about buying GZ. And I said that yes, everything is for sale.

But the price tag is not for everyone. And with the Geekzone Blogs (Beta) coming out now, the price just went up another notch.


[Moderator edit: repaired link - darn newbies... ]







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  Reply # 29971 6-Mar-2006 09:20
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Now that Trademe is part of a publically listed company it will be interesting to see what results are made public and how much of a cash cow it really is!


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Reply # 29988 6-Mar-2006 12:05
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Xtra is on the list I wonder if this is because most computers are sold set to the Xtra home page in IE and people don't know how to change this. I have worked on so many PCs and changed the home page for customers and they have gone WOW amazing how can you change that, and when logging out of hotmail you are directed to the Xtra home page.




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  Reply # 29990 6-Mar-2006 12:27
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freitasm: Interestingly enough someone asked other day about about buying GZ. And I said that yes, everything is for sale.

But the price tag is not for everyone. And with the Geekzone Blogs (Beta) coming out now, the price just went up another notch.



Hope you're gonna shout us all when you accept that $100 million offer! :-)


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Reply # 29994 6-Mar-2006 13:13
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By the way, I wonder if they placed bids until it reached the Reserve Price, of it was a Buy Now auction.

And what will be the Trademe Success Fee on this one?




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Reply # 29998 6-Mar-2006 14:03
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According to the companies office.

There are 194,730 shares, which means a value of approx $3595 p/share
Sam Morgan has 63,171 shares do the math on that one...



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  Reply # 30004 6-Mar-2006 15:55
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Jama: According to the companies office.

There are 194,730 shares, which means a value of approx $3595 p/share
Sam Morgan has 63,171 shares do the math on that one...


Was that including or excluding the extra $50 million bonus if they reach their targets for the next 2 years?

It would be great to see him set up some form of trust for IT projects and give some of that back to the community.

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  Reply # 30010 6-Mar-2006 16:14
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sbiddle: It would be great to see him set up some form of trust for IT projects and give some of that back to the community.

If he plays his cards right he could go down in the history books for more than just making a snotload of ca$h.

I agree - it would be nice if he used a small amount of that money to put towards community/education uses in the IT sector.

I guess Sam Morgan has a lot on his plate, and more friends than he can shake a stick at.

Personally I think he should register at Geekzone, and hang out with us. I dont want your money Sam - I want your motivation!




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Reply # 30026 6-Mar-2006 19:37
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Reply # 30027 6-Mar-2006 19:42
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I like this bit in the ad banners auction:

"This is the first online auction of Internet Advertising space on Trade Me. Trade Me currently averages 250 unique visitors every day. This is up from 150 about 10 days ago!!! The site is growing strongly and as an advertiser you can expect at least 3500 unique visitors to see your advertisement. "






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