Trade Me to be acquired

Fairfax is to acquire Trade Me (www.trademe.co.nz) for NZ $700 million.  Well done to the Trade Me guys.  This privatley held company has persisted in it's core competencies, i.e. e-commerce (online auctions) to the New Zealand market over the last 6 years and has repelled competitors such as Ebay to keep it's spot in this lucrative market.

On a lighter note, even if every single man, woman and child in New Zealand used Trade Me they would still be paying $175 NZD per head which initally may seem excessive...