TradeMe sold for $700M

Yep thats right $700 Million.

Fairfax New Zealand has bought New Zealand’s leading internet auction site, Trade Me, for $700 million.

As part of the deal, which is expected to be completed in April, an additional $50 million will be paid if the company meets certain earnings targets over the next two years.

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

Way to go guys. 



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