Hi folks,
Some of you will have heard of Trademe.co.nz
It was started 7 years ago by then 23-years old Sam Morgan in his bedroom.
It is the NZ equivalent of oBoy.
Today it was purchased from 30 years-old Sam Morgan for $700 million NZ
cash, by Fairfax, a little media company that owns most of NZ and much of
Australia media.
$700 million NZ represents 15.6 times the current annual profit. Morgan
says that represented a fair deal.
Fairfax will retain Morgan and his current staff to run Trademe
Cheers, Brian
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