700 milllion bucks..

[limbimtimwim]

real question is... what happens when eBay sees the amount of web traffic trademe is getting and decides to enter the nz market, trademe would devalue by half at least!

Ever used eBay? It's *ARSE* compared to TradeMe.

And there is a www.ebay.co.nz , but there isn't much for sale on it.

[bugjuice]

I was bustin ma hump for a .com company..
but at 1pm NZ time, I was in the UK, probably gettin it owwwwn with ma gf

[Lazy7]

it will turn to shit because fairfax is run by a rugby player. (not a bad rugby player at all... but still a rugby player)

and because now that Sam has sold it - he wont give a fuck. He'll be thinking of his next big thing.... or

he'll be out with his 224million dollars - finally getting laid.

[cruising]

either thats one rich 25year old... i've got 6 years to go, let see how i go

He is actually 30. Herald says: "...founded Trade Me in 1999, at the age of 23." So there, you just got additional 5 years to make it happen.

real question is... what happens when eBay sees the amount of web traffic trademe is getting and decides to enter the nz market, trademe would devalue by half at least!

Like Limbim said, there is an eBay in NZ. It's crap. I've seen spaghetti bolognese more obvious than eBay, Amazon and many of the other big overseas sites. When I want to shop, I just want to find the product and buy it. If I want a hundred different ads, announcements and useless tid-bits to distract me, I will just go shopping with the wife.

TradeMe is truly world class when it comes to design and ease of use. Good to see a NZ site show the others how it should be done.

[ManDownUnder]

Know what?

For all the shortcomings TradeMe has (and I personally don't think there are TOO many) I say good on him - Sam did something - got off his arse and made it happen - and now he's reaping the rewards!

Good on hime!

[Karma]

ebay.co.nz is rubbish for sure, but only because all the listings are on TradeMe... if they made a play for it they could knock TradeMe over pretty easily.

eBay.co.uk and eBay.com go to show just how big the company can get... but to be frank I doubt there's enough of a market in NZ to bother...

[MisterD]

"Trade Me's founder and chief executive Sam Morgan will continue to run the business."

may be that'll be it's saving grace..??
but when you've just been given that much, how much incentive is there to keep things going as well has they have been?

I wouldn't be surprised if Morgan staying on was a condition of the deal...

[ManDownUnder]

I wouldn't be surprised if Morgan staying on was a condition of the deal...

I fully expect it is. He knows the business and it's very common to insist on management staying to ensure investors retain what they're buying (i.e. the comany AND the way it's run).

[kro]

Know what?

For all the shortcomings TradeMe has (and I personally don't think there are TOO many) I say good on him - Sam did something - got off his arse and made it happen - and now he's reaping the rewards!

Good on hime!

Thats how I see it too.

[Finn]

it will turn to shit because fairfax is run by a rugby player. (not a bad rugby player at all... but still a rugby player)

and because now that Sam has sold it - he wont give a fuck. He'll be thinking of his next big thing.... or

he'll be out with his 224million dollars - finally getting laid.

I would normally agree with you but like me, David Kirk has a PhD. I'm not sure what he has his in, I think economics or commerce. He's a very smart operator.

It's fantasy stuff to go from nothing to where he is today. Right time, right place, good luck and the support of 1,500,000 kiwi's.

Well done Sammy and don't spend it all on hookers.

[Karma]

Well done Sammy and don't spend it all on hookers.

Why the hell not?

[justsomeguy]

I fully expect it is. He knows the business and it's very common to insist on management staying to ensure investors retain what they're buying (i.e. the comany AND the way it's run).

One of the GM top brass had to give 2 years notice of resignation.

[NC]

Imagine how much "crap" you could buy with that? Oh all those bikes..... WOOHOO!

[Oakie]

just herd that on the radio, makes me want to ride tol Wellington and slap everyone of them when i get a reminder for being 56 cents in debt and then threatened that i won't be able to use trademe till my debt is paid....

oooooo 56 cents......

Beginner! I'm $4.20 in debt. Hah! That's 0.0000006% of the purchase price in my hot little hand.

[MD]

Job well done Sam. Trademe's my friend.
He stayed on because if it keeps performing at current levels he gets a bonus, something like $30m I heard on the radio. That's a good incentive to turn up to work for 2 more years.
What about his family connection- Gareth Morgan, Economist and promoter of all things motorcycling is his Dad and owns about 10% or 15%. Gareth was the main commentator of the Silk riders across Europe to China last year. On Campbell he put in two beaut promos for motorcycling.
Cambell- you must be so rich now, what $40m maybe?
Gareth- doesn't matter, so long as I have enough to fill my motorbike tank
Cambell- so what will you do with that money
Gareth - what I love doing now, riding my motorbike and giving people investment advice

Just hope fairfax don't bombard the site with ads.