Announcement: Trade Me
5 December 2016
Trade Me sells Travelbug and BookIt
Trade Me has sold its accommodation website Travelbug and online booking
engine BookIt to Travel Booking Services 2016 LP ("TBS"), a limited
partnership with investors that include the founders of the successful
Torpedo7 and 1-day ecommerce businesses. The sale price is confidential.
Travelbug was launched by Trade Me in 2007, and BookIt was acquired in 2010.
Trade Me CEO Jon Macdonald said the sale was the best option for Trade Me and
the businesses'' customers.
"It''s difficult for us to justify prioritising time and money for Travelbug
and BookIt given the other opportunities we have across Trade Me. The TBS
team have considerable experience in large-scale ecommerce businesses, and we
wish them all the best."
-ends-
Contact: Jeff Hunkin & Logan Mudge, Trade Me
Ph 04 803 2601 or email mediaenquiries@trademe.co.nz
End CA:00293786 For:TME Type:ASSET Time:2016-12-05 15:33:26