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[OM] Re: OT Trademe NZ sold for $700 million NZ

Subject: [OM] Re: OT Trademe NZ sold for $700 million NZ
From: Andrew McPhee <macca@xxxxxxxxxxxxxx>
Date: Mon, 06 Mar 2006 15:34:22 +1100
At 11:44 AM 6/03/2006 +1300, you wrote:

>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



Wow, it goes to show that you just need one really good idea to pop into 
your head and you can be set up for life.  Or for a few lifetimes for that 
matter...

But if I was Morgan I'd have said goodbye and gone sailing off on my new yacht.


Andrew McPhee
http://www.dev-stop-fix.com/


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