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What is Trade Me Group Limited mean?
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". In May 2019, Trade Me was acquired by private equity firm Apax Partners for NZ$2.56 billion. Trade Me Ltd also operates several sister websites including FindSomeone and Holiday Houses.
As of 20 March 2019, Trade Me's website was the fifth most visited in New Zealand and was ranked 2,711th globally according to Alexa Internet. In a country with a population of 5.1 million, the Trade Me site has, as of April 2021, 5 million active members. As of April 2021, an average of 690,000 people visit the site each day.
Participating traders primarily use New Zealand's banking system to settle payments, although Trade Me offers sellers the ability to accept credit card payments via Trade Me's own instant payment service, 'Ping' (formerly 'Pay Now'). Australian sellers must have a New Zealand bank account, while sellers from other countries are not allowed on the site without special approval.
Trade Me shares many features with other online auction websites, such as eBay. Some of these features include "Buy Now" and "Auto bidding". Members in New Zealand can become "Address Verified" by confirming their street address and sellers may choose to block the large proportion of members not "authenticated" from bidding. Only "authenticated" members can ask sellers questions. Members can become "authenticated" by using a credit/debit card on-site or depositing some money in their Trade Me account.
Only one membership per private person is allowed. Membership is for life, is never deleted and will be only partially deactivated if a member "closes" their membership by giving three days notice in writing to Trade Me. Member profile, bidding history and "feedback received" pages are then hidden and can be reactivated by ex-members at a later date on request. All ex-members empty member "items for sale" pages and all the "feedback sent" posted on other members pages is not hidden.If any member objects to feedback they've received, Trade Me staff can choose to alter or delete the feedback without consulting with or explanation to the member who posted it originally.
referencePosted on 06 Sep 2024, this text provides information on Miscellaneous in Business related to Business. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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