The story goes that a young computer consultant named Sam Morgan started Trade Me after a frustrating experience buying a heater for his chilly Wellington flat. Sam was fed up with other websites that didn’t cater well to Kiwis, and he reckoned he could offer something better.
How much is Sam Morgan worth?
The NBR Rich List puts Mr Morgan’s wealth around $290 million.
Why did Sam Morgan make Trade Me?
The idea for Trade Me started when Morgan was searching for a second hand heater for his student flat. During this search he came up with the idea of online auctions in New Zealand. He established that the biggest internet businesses operating at the time were auctions and dating, so that is what he set up.
What is Trade Me worth?
A new Morgan Stanley assessment, based on the value of comparable companies, says Trade Me is now worth between $A1 billion ($NZ1.
Who is on the NZ rich list?
The NBR List top 10
- Graeme Hart – $11b.
- Todd family – $4.3b.
- Goodman family – $3.1b.
- Mowbray family – $2.5b.
- Michael Friedlander – $2b.
- Rod Drury – $1.95b.
- Talley family – $1.2b.
- Bob Jones – $1.1b.
How does trade me show economic growth?
Summary of Shamubeel Eaqub’s report on Trade Me Trade Me is 3.5x more productive than the wider New Zealand economy. Trade Me’s productivity is ranked in the top 10 of industries. In 2018, Trade Me contributed an estimated $225m to the New Zealand economy – a significant contribution for a single business.
Who is the founder of the Trade Me project?
Six months after setting out to trade a bobby pin for a house, a 29-year-old California woman and social media influencer now has a place she can call home. On Nov. 29, Demi Skipper, who is based in San Francisco and started the Trade Me Project, announced on social media that she had finally achieved her goal through months of exchanging items.
Why was Trade Me created in the first place?
Trade Me developed slowly initially, because its founder had little funding to pay for the costs of hosting and of expanding the site. In addition, Trade Me initially offered a completely free service for both buyers and sellers, a strategy for expanding its member base at the cost of short-term revenue.
Who is the owner of Trade Me auction site?
Trade Me is the largest internet auction website operating in New Zealand. Managed by Trade Me Ltd., the site was founded in 1999 by New Zealand entrepreneur Sam Morgan, who sold it to Fairfax in 2006 for NZ$700 million. Trade Me was publicly listed as a separate entity on 13 December 2011 under the ticker “TME”.
Who is the owner of Trade Me New Zealand?
Trade Me is New Zealand’s largest online auction and classifieds website. Managed by Trade Me Ltd., the site was founded in 1999 by New Zealand entrepreneur Sam Morgan, who sold it to Fairfax in 2006 for NZ$700 million. Trade Me was publicly listed as a separate entity on 13 December 2011 under the ticker “TME”.
