Trademe 2.0

[t.rexjr]

Trade Me has been inundated with scammers recently taking over people accounts and selling fake products pilfered from overseas classifieds.

I'd be very wary of the forward growth curve of the Trade Me platform. The discounted and free selling promotions are increasingly offered as a way of coaxing sellers back. There is still huge uasage but i suspect once FB decides to improve their marketplace platform it will take (more) huge chunks away from the used sellers market on Trade Me.

[Wheelspanner]

Yes, it happened to me just a week ago.
After updating my detail, another scammer came in requesting with "update your detail", which i did (without looking at their URL). Just 10 minutes later my bank notified me your credit card is blocked. This scammer's website must be well known to the Bank's security team and they acted quickly and saved my money. But I am having the hassle of going through new card, entering new card number into other honest merchants systems.

[Dlownz]

https://www.nzherald.co.nz/business/...KGRS6UYVGH3H4/

[kiwical]

The focus of many here seems to be on the core Trade Me website. I don't know what percentage of their total earnings that comprises. If they are listed on the NZX does that mean are all their other fingers in the pie or outright ownership businesses are not part of that? (homes.co.nz, Trade Me insurance, Findsomeone, pay station, holiday houses, motorweb, autobase, tradevine) They also have, or did have, investments in sharesies $44.6m and harmoney <- probably not going so great that one.

[nztx]

https://www.nzherald.co.nz/business/...KGRS6UYVGH3H4/

Anyone worked out where the $1.6 Billion they borrowed went ?

seems like a h4ll of a lot of hock for an online market place .. did PE owners want their dough in one lot
in a h4ll of a hurry ?

[whatsup]

Who in HE!! would anyone ever invest in trademe123 or 100 what a mess/stuff up of a share it now has become $1.6 BILLION debt, you have to be joking, if it is offered then how about leaving the debt with the fish heads and price it at a P E of 2, it then might have a chance of being taken up.

[Waltzing]

tack så mycket. for posting the link.... tangled web ...

[nztx]

Who in HE!! would anyone ever invest in trademe123 or 100 what a mess/stuff up of a share it now has become $1.6 BILLION debt, you have to be joking, if it is offered then how about leaving the debt with the fish heads and price it at a P E of 2, it then might have a chance of being taken up.

Seen the $100 m return of Capital / Equity in the most recent accounts ?

Another $300m or $400m of related party debt repaid - looks like funded as part of the $1.6 Billion

Was that all added to slate on USD Hock borrowed up ?

How much did this outfit make - a Loss or $25 mil ?


What was the Interest charge against local income - $150 m odd ?

Where are interest rates & exchange rates now or since headed ?


Must be a huge band of eager investors out there really wanting to step into the fray
and help PE pay back the $1.6 accumulated hock on all the c*cked up time they
have held the show - in the eyes of those in PE's Head Office

Would they accept paua and pipi shells for shares they want to quit and be able to
give any wanting to risk it a Call option back, if all turned to crap and it sunk under
the large pool of US Debt they have stacked in there ?

At worst at Liquidator's values who on earth would pay the amounts they have on the card for
all the various forms of Intangibles in latest reports ?

It probably puts a whole new meaning on "going concern" ..

A quick change in the prevailing winds and it easily may start looking like "going down the toilet" instead


So where did the Billions of Debt go - could it have been some very zealous Revaluations
of Intangibles .. then carefully extracted back out into PE's pockets ?

Many years ago when listed what was the Debt load then ? - less that $100m or $200m ?


It might be worth $5.00 a share - if and only if PE pay back the $1.6 Billion they added
in hock during their ownership, but that probably wont happen

With the Debt load left onboard and most recent reported results - let's guess now 50c - 75c a share ?




What are the usual warnings when PE get involved, do their usual thing on the target
and then look to disappear into the distance after the extraction exercise is done ?