Kiwi auction site Trade Me is one of the country’s shining tech successes.
Launched by Sam Morgan back in 1999, Fairfax bought the site in 2006 for $NZ700 million, or approximately 15.6 times the expected EBITDA for the following year.
By 2008 the site reached 1 million concurrent listings and in 2012 became a public company. Fairfax sold its 51% stake in Trade Me shares for $616 million.
But of course there was a lot of mayhem and madness in between those milestones.
The company’s new headquarters are on Wellington’s waterfront, taking up three floors which are full of surprises and connected by a bunch of slides. Yes, slides.
Morgan famously said the company culture is based on “don’t be a dick” — which means treating people with respect and maintaining a send of humour. It’s a value which still reverberates through the halls of the office today.
Here’s a look inside.