Trade Me sells group-buying Treat Me after two-year experiment

Tue, 05 Mar 2013

March 5 (BusinessDesk) - Online auction site Trade Me, which is on the prowl for more acquisitions, has sold its group-buying Treat Me website for an undisclosed sum in a management buyout. The Wellington-based company expects to complete the sale to a consortium led by Treat Me head James Macavoy in the next month, two years after launching the website, it said in a statement. The terms of the sale are confidential, and the price isn't considered material to Trade Me. "We've not been able to give Treat Me sufficient oxygen, mainly because...

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