Trade Me buys MotorWeb

Photo credit; David Antis on Flickr

Photo credit; David Antis on Flickr

New Zealand-based internet auction site Trade Me has purchased New Zealand-based motor vehicle information company MotorWeb for NZ$19.5m.

The deal is conditional but expected to be completed later this month.

Founded in 1997, MotorWeb is an online business that operates in both New Zealand and Australia that packages and sells vehicle information and reports to finance companies, insurers, car dealers and the public. It offers a suite of more than a dozen products and services.

“The MotorWeb business has a lot of potential to complement our existing Trade Me Motors business, and will give us the chance to broaden and deepen the products and data we provide in relation to motor vehicles,” Trade Me CEO Jon Macdonald said.

MotorWeb staff would move across to join the Trade Me Motors team early next year.

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One Response to “Trade Me buys MotorWeb”

  1. […] By law, anything that isn’t reclaimed has to be sold either at an auction house or through sites like Trade Me. […]