Trade Me Group Ltd plunges on ASX

Trade Me Group Ltd (ASX: TME) is a consumer discretionary stock and a classified advertising platform and an online market place based in New Zealand. CEO Jon Macdonald of Trade Me has announced that he intends to step down from his role and resign from the company in approximately six months. This will bring a close to a tenure that started in 2003, including more than a decade as CEO.

Trade Me has four main customer facing business units, supported by four functional areas; Motors, property, jobs and Market place ads payments. Key Activities include: 1. Dedicated local Policing and “Trust & Safety” teams which develop and enforce site policies and monitor compliance 2. Integration with Motor Web as the background check for vehicle listings 3. Financing of a Buyer Protection Program, and 4. Publication of an annual privacy report.

The data they have on the behavior of Kiwis is unique in nature and scale. They are increasingly using this information to improve the experience and value they offer to Kiwis. There is enormous potential in this data. Additionally, they have close relationships throughout NZ with a wide network of vehicle dealers, recruiters, retailers, realtors and buyers which gives us unique insight into their opportunities and challenges.

TME traded at a market price of $4.460, down 3.879% on June 26, 2018 (post mid-day trading); and the stock has seen a change from $4.900 as at June 22, 2017 to $4.570 as at June 22, 2018.


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