Trade Me is New Zealand’s only online auction site. A site created by New Zealanders for New Zealanders, the company has already experienced the benefits of having the homeground advantage when eBay tried unsuccessfully to enter the New Zealand market in 2001.
Today Australasian newspaper publisher, John Fairfax Holding, paid NZ$700 million for buying online auctioneer, TradeMe. This shocked many commentators and analysts.
Is 700 million too much?
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