I had someone email an interesting question: Why was there so little discussion of the Trade Me acquisition when it happened in early March? A kind of Kiwi Ebay, Trade Me’s 1.2-million members host 35m auctions a day. The company was acquired for $428mm (if my Kiwi currency calculation is correct), which is impressive for a 50-person company founded in 1999.
A partial answer is that the deal, while sizable, didn’t happen at the Center of the Universe. Another answer is that Ebay-type auction market is largely considered to be over and settled. It isn’t, as this acquisition shows.