Trade Me (TME)

[t.rexjr]

I mentioned to a mid 20s that I had something listed on trade me and they replied "doesn't everyone use Facebook now"?

I have bought of Facebook but currently the platform is pretty average with no categories or reliable search option.

[IAK]

Trademe will certainly face increasing competition from Amazon in the General Items category which comprised about 30% of revenue in 2016/17. However, the majority of Trademe's revenue comes from the Classifieds - Property, Motors and Jobs, all of which are growing nicely (especially Jobs). Will Amazon impact these sectors? I'm not so sure. The question is will the growth in these sectors (and others), out-weigh the (expected) decline in General Items? Trademe is not alone in facing disruption and increased competition, it's how they respond that will be key to their survival and growth. Time will tell I guess.

Disc. Holding

[Joshuatree]

Yes thanks for that info IAK.
S/P bottom is not in yet.

"Macdonald also points out that only 12 per cent of Trade Me's revenue comes from sales of new goods.
And when it comes to competing with the likes of Amazon, he says a lot of items are not well suited to shipping overseas.
Trade Me's fastest growing categories currently are building and renovation, and home and living. "A good proportion is better suited to local than international."


"We do have something that is real and unique to offer."

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11922067

[alliswell]

"And when it comes to competing with the likes of Amazon, he says a lot of items are not well suited to shipping overseas."

Thats a interesting comment to make, because I can buy the exact same item on Amazon as I can on Trademe, that I would call "fragile" so he saying we shouldnt buy items on Trademe that come from overseas sellers?...does that mean even the ones who sell on TM??

looks like he forgot to mention that a fair few listings on his own Trademe are from businesses..... overseas!!

Also,I've sent items from HB to Wellington that have been damaged in transit!...another one that took 4 weeks from HB to Palmy!!...damage in transit comes back to packaging and the handing, if both of those are good, the items safe if either one is not, damage may occur.

I'm not saying Amazon or Facebook will be the death of TM,just saying...

[Joshuatree]

Good feedback points , thanks. Ive personally never had a prob and deliveries have been quick. The only damage i had was many years ago when an NZ post deliverer tripped over on my steps and when i opened my package the fragile kauri gum was in pieces!

[Joshuatree]

Buy now, pay later - interest-free. Trade Me's teamed up with Afterpay Shop Now at trademe.co.nz (https://paid.outbrain.com/network/redir?p=9T3rVj0PSa7-N4eEwePsCPQFKEp11Il7SFwknnu6IC8GAQI_QLWw6TRVd9R73Z 6V4ojKgNRIBdhlb_ZFai_TUDua79N6G5lY92K7EIK45JzeQBCr 87SloSu2ZVnzdSz6AuE6JXS1WzubNcRFlze5e_uxtfFSdLKJMD azQbvSAR0h7e3vq7nJ0vUIx3g5Wq1b4N1kNt_eqdEV_0WX91Ji tXJBSIs7PUXunqN7ySu8drP_kca5AaePhUvEr5Ot_pQ8mcnw3T 33rwj8ZQU4raL_m0Eodd3W1v96rwxsdTfy1Yi4PXmZ-qGWLRYHiFJ38o7bcAwEX47kiekoddW8LxnRDZVUQ9FawdGYmD_ MF6ooHBgOwGIPu3b9OyqSgLleXKPB3j-M3D0u_LbQGscGIHcv8ysu6n-4LM4qQ5LX0J5fmurmdS8sDeQz58Dko3uqeKCY8IvCkUxleHCze gSMc28UfAJCeN1uycD9e2u2JWJbA2HH-OPmf0TlNMPcr66GXRNG-NPJfu2dvgxD89cfse1yGWxZ0LTyvDCqMuW1bZD6f-I_p_fDk9QO-Rg3Y9i4RgXPgGVmK11CgTy7eNx_DO9XrxIzCBq76MEUHMqgpYd sC45Mjgw61LBVnPIuWwJFQq4R3ktoxM0zAElYPsWHlU6kD1KwQ V8iDGImWRgKbTn94945cps3QDmjAgmjfJcJBuZDVDlJD6SdUlx NPqexKcvd4oDbCyTB_agM_ipMm4iOx2Bxpl3fdlcv6LZWR5-Ju9G9HieTQKGqb2qwgD6LnY5RJg&c=267d7dd7&v=3)

[Joshuatree]

A broker thinks the risks re amazon etc are built in to s/p now with the s/p drop, (enjoyed the quick cum div I've been paid a few days back) .

"TME is now trading on a consensus forward price to earnings (PE) ratio of 18.3x and isat a ~30% discount to its Australian comparatives (Seek, Carsales.com, REA Group).With a below-market valuation, mid-single-digit earnings growth, a 6% gross yield,and a solid franchise (excluding new goods in Marketplce), TME remains anappropriate part of a balanced portfolio. "

[Lewylewylewy]

I mentioned to a mid 20s that I had something listed on trade me and they replied "doesn't everyone use Facebook now"?

This is the reason I don't but tme. Shame.

[Joshuatree]

TME has powered through the 60DMA on increasing vol last few days. apparently there is a broker/Insto buy , on it but i haven't seen it atp.
Facebook sales are pretty pathetic in everyway imo, have you looked at the setup? So inferior and you are more exposed to timewasters and being ripped off having to deal in person etc. No contest.

[Joshuatree]

This is the reason I don't but tme. Shame.

Dont be ashamed just watch the missed opportunity.$5 looks close with TME recovering well from the over reaction to amazon facebook et al. I ate well.;) .Getting harder to find value on the NZX now

[RGR367]

Gut feel isn't so sure anymore that it will reach its height of more than 5 bucks soon again and having the sp recovered good enough since Oct/Nov, I sold almost a fourth of my holdings today. It's still a very good stock.

[sanctus671]

Any ideas what has triggered this recent bull run? Up to $4.7 from $4.3 just a couple of weeks ago. Hopefully the trend continues!

[Joshuatree]

$4.80 atm. Dont know s671 . seems to have started up after the strong job demand on the 9th april. The govt announcement of GST on overseas transactions hasn't dampened the demand either. Pretty healthy chart with the 60DMA in the dust and vol increasing.Happy holder:)

[sanctus671]

Is TradeMe too boring to talk about?

I built up a large position on this stock over the last few days. I took advantage of the recent share price drop and decided to go big! It's now trading at the 200 day moving average. Volume today was solid. I noticed a large $8m or so order go through in the afternoon, most likely a large hedge or Kiwisaver fund. I believe it has strong support at this level as back in early July it bounced hard from this same price point.

In the past, I've never really taken any interest in this stock as I saw it as too boring. However, it's kind of just occurred to me that this stock is just ABSOLUTELY BLOODY CHEAP AND GOOD VALUE at this price!

The Amazon and Facebook threats are over emphasised. Figures just out (https://www.smh.com.au/business/companies/here-s-how-little-amazon-australia-sold-in-its-first-month-of-trading-20180803-p4zva4.html) showed that Amazon sold a poultry $6.3 million in direct sales leading up to Christmas last year in Australia. Facebook Marketplace has been a flop and is fulled with scammers. Sure, I do believe that these two dominate players will eventually grow and become more relevant in NZ but you have to remember that online shopping is a very 'large pie' and growing 20% year on year. There's room for everybody and new players too.

TradeMe today is basically a classified business, not a second hand marketplace. There's very good growth from their Motors, Property, and Job listings. Overall, in my opinion, it's just a great little cash cow with a clean balance sheet and strong earnings, that will continue to outperform the market, albeit modestly over the medium to long term.

Compared to others like Seek or REA group, which is trading at a premium and lower yield, with false promises of better growth, the fact is that everybody seems to forget about little old NZ, unless of cause, it's milk. All things equal, if TradeMe was an "Australian brand", it would be trading much higher, regardless of growth potential. Look what happened to Xero when it left the NZX!

Ebay shares have been down over the cause of the year but still up alot over the long term. It's a different company with more competition in the classified space, and more risk exposure to the likes of Amazon and Facebook. With the recent appreciation of the USD dollar and $2b cash on hand, it could easily put in end to the almost 20 year monkey on it's back and finally acquire TradeMe - although highly unlikely and subject to OIO.

At the end of the day. You get a dividend yield of 6% with the benefit of decent growth and exposure as a tech play. Combined with a tightly run ship, low-ish overheads, and strong brand recognition, what's not to like about this stock? It deserves to be $5 I reckon and $6 12-18 months from now. End of year earnings results are due in 3 weeks. Time will tell.

Thoughts?

Absolutely agree. I held this opinion for a long time even when the initial big drop happened last year. It seems like TradeMe gets a hard time from analysts that want to find all the negatives in the company wherever they can while ignoring the bigger picture. TradeMe is easily the most reliable way to trade second hand items in NZ (use fb marketplace to sell or buy to realize how garbage it is). And the marketplace is not even its biggest strength with classifieds, motors, and real estate. It's also well run, and well diversified to protect against competition like fb marketplace and amazon. One particular example I always tell people is that TradeMe is part owner of Harmoney, the P2P lending platform which is a fantastic business in itself. Last years report outlined that they were planning for conservative profit growth this year as they focus more on investments which is why the share price got hammered. I'm confident that the company has some great growth ahead of it, but of course time will tell. Interested to see what the upcoming report says.

Disc. am a holder

[Joshuatree]

Great to have some other holders.Im still in. Amazon has had poor takeup in aus at this point but it is a monster lurking in the woods in future.Facebook Mkt place is small and with very limited features and no checks and balances at all that i can see but some young people like it, its free.

The other threat is NZME,they are attacking Trademes three main earners real estate, jobs, cars ,with their sites ONE ROOF.YUDU and DRIVEN. Early days atp but with all their media publications NZME have the marketing reaches afar. Note the many full page ads in the herald for ,One ROOF. Real estate have set up their own house selling site too after trademe changed its fees etc.Trade me has backed down and reduced its fee structure.

Trade Me keeps coming up with new ticket clippers. insurance a recent one and has accomodation, online dating and group buying sections as well. It is still the dominant iconic online mkt place by far.

[kiwico]

TradeMe is easily the most reliable way to trade second hand items in NZ (use fb marketplace to sell or buy to realize how garbage it is).

At the recent NZX investor evening in Wellington the Trade Me CFO explained it was an ex-Trade Me employee that apparently suggested marketplace to FB (and then built it). Haven't gone near it (FB marketplace that is) - sometimes a degree of anonymity but a good buyer/seller rating is what you want.

Also still a holder but looking forward to the high fives again at some point.

[kiwico]

[QUOTE=Ogg;723585]Also: Take a look at the Alexa ratings in both New Zealand and USA.

TradeMe is at number 5, up there with the other FAANG stocks./QUOTE]

Thanks for this. Interesting to see that Trade Me is way ahead on Daily Time on Site of the top 50, beaten only by Ali Express (which from my experience is because you either can't find what you want on AE or because the price shown suddenly doubles for no reason). Plus comes second in Daily Pageviews per Visitor which is good for all that advertising on each page.

Happy holder but unless market starts to understand the cultural dynamics of New Zealand consumers the price is not likely to change much.

[moka]

Morningstar have usually had TME valued at lower than market price and often with ‘sell’, but as the latest update shows they just did not understand the company and market. It shows the value of holding an investor day.

Morningstar valuation $4.60 – updated 15/05/18
Trade Me Investor Day Provides Revenue Growth Reassurance; FVE Increased to NZD 4.60

Narrow-moat-rated Trade Me's first ever investor day provided a comprehensive review of the business, including access to senior executives and a whopping 136-page slide deck. Our key takeaway is that the revenue growth outlook and addressable markets for Trade Me's online classified advertising businesses, including property, employment, and automotive, are larger than we previously assumed, and we have increased our revenue growth forecasts accordingly. We've also slightly lowered our revenue growth forecasts for other divisions, which are dominated by the mature general items division. But the net result is an increase in the group revenue CAGR over the next decade to 6.1% from 4.9% which has driven a 9% increase in our fair value estimate to NZD 4.60 per share. At the current market price of NZD 4.75, we consider shares to be slightly overvalued. Our fair value implies a fiscal 2019 price/earnings ratio of 17.5 and a dividend yield of 4.6%, or 6.0% including the imputation credits available to New Zealand taxpayers.

[Timesurfer]

Looking across the board it would appear that the Gov fixing the OCR for the forseable has benefited stocks with dividends?

[Patient Panda]

Looking across the board it would appear that the Gov fixing the OCR for the forseable has benefited stocks with dividends?
Logically it should do that. All assets prices in general are tied to their risk weighted returns which are strongly influenced by the OCR

[Bobdn]

I do enjoy a special dividend now and then.

[Joshuatree]

WooHoo:D 22c special div on top of final div of 10.5c
Net debt reduced to effective $64 mill ($72 mill cash on hand)
Rev $250 mill up 7%
Outlook strong with solid rev and profit growth for 2019
s/p up 6% to $5 atm.

[crabs]

6-7% revenue growth and 4% NPAT growth.
PE of 21.
Something does not look right here

[RupertBear]

Is TradeMe too boring to talk about?

I built up a large position on this stock over the last few days. I took advantage of the recent share price drop and decided to go big! It's now trading at the 200 day moving average. Volume today was solid. I noticed a large $8m or so order go through in the afternoon, most likely a large hedge or Kiwisaver fund. I believe it has strong support at this level as back in early July it bounced hard from this same price point.

In the past, I've never really taken any interest in this stock as I saw it as too boring. However, it's kind of just occurred to me that this stock is just ABSOLUTELY BLOODY CHEAP AND GOOD VALUE at this price!

The Amazon and Facebook threats are over emphasised. Figures just out (https://www.smh.com.au/business/companies/here-s-how-little-amazon-australia-sold-in-its-first-month-of-trading-20180803-p4zva4.html) showed that Amazon sold a poultry $6.3 million in direct sales leading up to Christmas last year in Australia. Facebook Marketplace has been a flop and is fulled with scammers. Sure, I do believe that these two dominate players will eventually grow and become more relevant in NZ but you have to remember that online shopping is a very 'large pie' and growing 20% year on year. There's room for everybody and new players too.

TradeMe today is basically a classified business, not a second hand marketplace. There's very good growth from their Motors, Property, and Job listings. Overall, in my opinion, it's just a great little cash cow with a clean balance sheet and strong earnings, that will continue to outperform the market, albeit modestly over the medium to long term.

Compared to others like Seek or REA group, which is trading at a premium and lower yield, with false promises of better growth, the fact is that everybody seems to forget about little old NZ, unless of cause, it's milk. All things equal, if TradeMe was an "Australian brand", it would be trading much higher, regardless of growth potential. Look what happened to Xero when it left the NZX!

Ebay shares have been down over the cause of the year but still up alot over the long term. It's a different company with more competition in the classified space, and more risk exposure to the likes of Amazon and Facebook. With the recent appreciation of the USD dollar and $2b cash on hand, it could easily put in end to the almost 20 year monkey on it's back and finally acquire TradeMe - although highly unlikely and subject to OIO.

At the end of the day. You get a dividend yield of 6% with the benefit of decent growth and exposure as a tech play. Combined with a tightly run ship, low-ish overheads, and strong brand recognition, what's not to like about this stock? It deserves to be $5 I reckon and $6 12-18 months from now. End of year earnings results are due in 3 weeks. Time will tell.

Thoughts?

Well done Ogg getting on board this wee rocket before it left earth! :t_up: I was very tempted to buy a few just for that juicy divie but couldnt make myself push the buy button at the current price. Some times you just have to accept you have missed the boat. Enjoy the ride and your yummy divie! :)

[Joshuatree]

Tell me about it. Craigs have a :t_down:sell with t/p $4.55.
Great cash spitter i reckon, happy holder since 2017.
Despite NZME's poor result they are working hard at taking mkt share with One Roof, driven and YUDU, worth a look at their presentation
NZME Half Year 2018 Results Presentation (http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/NZM/322632/285048.pdf) and facebook nibbling with Amazon on the horizon.

[RupertBear]

Yep Craigs had a sell on HLG as well and finally stopped covering them. Go figure ;)

[Timesurfer]

So a few weeks back when I was waiting for TME to dip below $4.50 before I bought some ... shoulda just gone ahead and bought some!

[RupertBear]

So a few weeks back when I was waiting for TME to dip below $4.50 before I bought some ... shoulda just gone ahead and bought some!

You and me both Timesurfer!

[Joshuatree]

You could turn back Time surfer:). S/P hit $5.40 today. Cum those big juicy divs

[Blendy]

I haven't been following TradeMe properly because I've been stubbornly believing for years that it's a mature company with no real room for more growth. I sell on TradeMe all the time, and have noticed my sales have dropped off hugely in the last year.

My curiosity has been peaked with Facebook Marketplace, and I have to say that as a seller, this is totally where it's at! The ability to post photos of all your items for sale in specific interest groups and on the general marketplace in a single post gets me more views and sales that TradeMe ever did - and fairly instantly. A post i created last week had over 3000 views, several hundred comments on individual items, and huge volume of sales. What was great was that it was things I wouldn't have bothered listing on TM as the fees wouldn't have been worth it - but a dedicated group of FB people all wanted everything and bought multiple items each.

Facebook benefits:
- no fees at all
- you can post all your pictures in one listing and people simply comment on what they want
- mass audience is achieved to targeted buyers since the posts appear directly in people's Facebook feed
- use Messenger for sorting out the trade
- rapid turnover of sales
- you can see people's FB profiles if you really have to
- the feeling of success when your phone DOES NOT STOP BEEPING with all the alerts and requests to buy everything!

TradeMe benefits:
- better for online retail products
- probably not much functionality for auctions any longer and simply Buy Now
- if you care about people's feedback, that's available
- it's sorted in categories if you're looking for something

Just my thoughts from being a regular TradeMe and Ebay seller since 2004, and recently converting to Facebook Marketplace.

[huxley]

From a buyers perspective I wouldn’t go near Facebook as there is a much higher rate of fraud.

[Joshuatree]

cheers Blendy.
Feedback is one of trade me's best assets imo, i value it very highly.
I look on facebook quite often , been using cameras as a test search and i find it so clunky, and opaque and time consuming, and limited in choices and you cant specify a make or model , latest, cheapest , etc etc where as on trade me i get a good feeling of the genuiness , of seller and product,streamline quickly to what i want. Their easy pay and delivery set up is great .
An advantage of facebook is you can go quickly around and check the item out if you have the time and inclination. I dont see a threat from facebook atp, they both have their niche in the mkt.

Record date for div tomorrow.

[Bobdn]

Yeah, it has been great. We're almost at free dividend stage, which is something considering the size of the dividend.

[noodles]

CEO, Jon McDonald, will be presenting to NZSA in Auckland on Wednesday, 19th Sep 2018.

Details here:
https://www.sharetrader.co.nz/showthread.php?10844-NZSA-Auckland-Meetings-and-Events&p=729164&viewfull=1#post729164

[Joshuatree]

Thanks noodles. Another on my to do list ,joining the local branch.

[Joshuatree]

Juicy divi hot my bank account today. S/P higher than before div, my ASB chart says so, cant be?

[Bobdn]

Juicy divi hot my bank account today. S/P higher than before div, my ASB chart says so, cant be?

Close to it, I think the day before XD was early 5.33. Remarkable share price recovery after a 32 cent dividend. Not a loved stock on sharetrader it seems but loved by those that actually own it :)

[Snow Leopard]

Juicy divi hot my bank account today. S/P higher than before div, my ASB chart says so, cant be?

ASB Charts adjust for the dividend:

The raw closing numbers are
5-Sep: $5.330; 6-Sep: $4.960;

and the adjusted ASB chart numbers are
5-Sep: $5.005*; 6-Sep: $4.960;


*or there abouts

[RGR367]

....................................... Not a loved stock on sharetrader it seems but loved by those that actually own it :)

Maybe it's one of those stocks that once it has proven itself to you, you just put it on the bottom drawer and not be bothered anymore by it. That's what I did :)

[Joshuatree]

Agree with you atp guys.
Revenue growth tracking 9% ,ahead of 6-8% guidance:D

Download Document 813.95KB (https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvSDYL4g%2B 6zRH2v%2BN0%2BrFiGug%3D)

[kiwico]

Thanks for this although I had to reread Resolution #1 as at first glance I thought they were trying to get Paul McCartney as a director!

[Joshuatree]

ASB Charts adjust for the dividend:

The raw closing numbers are
5-Sep: $5.330; 6-Sep: $4.960;

and the adjusted ASB chart numbers are
5-Sep: $5.005*; 6-Sep: $4.960;


*or there abouts

Thanks for the explanation.

[winner69]

TradeMe in play

Another one to leave the NZX

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12163715

[sb9]

TradeMe in play

Another one to leave the NZX

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12163715

It'll be sad to see another quality company disappear from our market.

[Joshuatree]

Yes.As a shareholder i would hate to see this leave NZ , more hollowing out of NZ corp.

[smartbomb]

APAX is a private equity operation so the business will be offered for sale in say 3-5 years.Whether it would still be worth buying is debatable. I think TME is a loss to the ASX also and certainly my portfolio. It made up for some of the pain of owning CBL.

[Bjauck]

It'll be sad to see another quality company disappear from our market.Sad but unsurprising. Will the last company left turn off the lights at the NZX? If only the net yield on NZ shares were as low as on residential real estate?

[winner69]

Looks like Investors Mutual didn’t time a lot of selling that well. Hope they’ve still got heaps.

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/TME/327260/291095.pdf

[Joshuatree]

Just seen this OGG .Spot on there.

[Joshuatree]

British company may take over Trade Me (https://www.radionz.co.nz/news/business/378084/british-company-may-take-over-trade-me)
Apax being favoured @ $6.45 unless the yanks offer superior deal

[Joshuatree]

Looks like a done deal for Ajax
Download Document 23.61KB (https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvSDYL4gy%2 Fzxj%2Bv%2BN0%2BrFiGug%3D)

[Joshuatree]

Pat our very few :t_up:selves on the back. TME best performer on the NZX 50
..."42.7 per cent,and it wasn’t solely because of a takeover bid emerging. Earnings growth was betterthan expected, the property division returned to form and shareholders were paid a very healthy special dividend. The takeover news was the icing on the cake,"

[winner69]

Pat our very few :t_up:selves on the back. TME best performer on the NZX 50
..."42.7 per cent,and it wasn’t solely because of a takeover bid emerging. Earnings growth was betterthan expected, the property division returned to form and shareholders were paid a very healthy special dividend. The takeover news was the icing on the cake,"






Well done JT for picking this out and making zillions ....good effort

[arc]

Looking like the new "potential" owners are likely to pocket the dividends

[Joshuatree]

Thats right but if the deal falls over a special div will be considered.. Apax are paying a very full price for TME but one needs to wait until May to get the dough.

[Joshuatree]

OIO consents to takeover.Just a vote now and i will be voting against this.
OIO consents to proposed acquisition of Trade Me 1 page 28.9KB (https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02085016)

[IAK]

Worse than Air NZ Trademe continues to allow sale of military style weapons.Unbelievable.
http://www.stuff.co.nz/business/111342750/trademe-allows-militarystyle-rifle-sales-to-continue?cid=app-android

[Joshuatree]

Trouble is Trade Me is a market place, those replica army style rifles are legal with the correct permits so it would probably be illegal not to allow them on the site. They will have to wait the law change.

[IAK]

Trade Me bans semi-automatic gun sales following Christchurch shootings.

https://www.stuff.co.nz/business/111358198/trade-me-puts-interim-ban-on-semiautomatic-gun-sales-after-christchurch-shootings

[Longhaul]

Trouble is Trade Me is a market place, those replica army style rifles are legal with the correct permits so it would probably be illegal not to allow them on the site. They will have to wait the law change.

Illegal to not allow them on the site? Please explain what law you are referring to.

[Joshuatree]

Trade Me bans semi-automatic gun sales following Christchurch shootings.

https://www.stuff.co.nz/business/111358198/trade-me-puts-interim-ban-on-semiautomatic-gun-sales-after-christchurch-shootings

Looks like got that wrong, way wrong ,my bad and good job trade Me.

[Joshuatree]

$6.43 today, 2 cent profit minus commission and taxes.And assuming it gets enough votes.Not mine.Vote against the resolution keep Trade Me here imo.

[Joshuatree]

Been credited today. So long TradeMe, miss you already:(. Wonder how much bonuses Kirk and others got for selling us out.:mad ;:

[nztx]

Was there word of this being relisted on NZX in recent past?

Is this the same Business ? -

https://nz.trustpilot.com/review/www.trademe.co.nz

[nztx]

https://www.nzherald.co.nz/nz/buy-now-scams-trade-me-users-demand-better-security-to-stop-hacking-and-phishing/RYEMHAOXBFBUXPVTQEYJ2WXPIY/

Premium: Too good to be true? The angry Trade Me users caught out in 'buy now' scams


Paywalled... But What ? - Scammers back on Trade Me

Didn't they fix this issue over 10 years ago ?

What happened to Trust and Security ?

[kiwical]

https://www.nzherald.co.nz/nz/buy-now-scams-trade-me-users-demand-better-security-to-stop-hacking-and-phishing/RYEMHAOXBFBUXPVTQEYJ2WXPIY/

Premium: Too good to be true? The angry Trade Me users caught out in 'buy now' scams


Paywalled... But What ? - Scammers back on Trade Me

Didn't they fix this issue over 10 years ago ?

What happened to Trust and Security ?Haven't read this, but yes, Trade Me was recently inundated with scam accounts. Most of these seemed to be hacked abandoned or semi abandoned genuine accounts. That was the main difference between this round of scams and previous ones. I suspect it was members who have used passwords on Trade Me that are the same as other published compromised email/password data sets. So the hackers have gained access to accounts that way. There has been a call for some time for 2FA (Two factor authentication) to make logins more secure. But for whatever reason Trade Me are so far resisting implementing that.