TRADE ME
Sam Morgan founded Trade Me in 1999, constructing the site while working full-time for Deloitte as a technology consultant. Within Deloitte, Morgan worked on Internet projects and supply-chain issues. During this time he witnessed the successes of online businesses like eBay and Yahoo, as well as the disasters of the dot-com bubble.
According to Trade Me legend, Morgan, then 23 years old, decided to found the Trade Me site when, despite searching online, he could not find a secondhand heater for his flat in Wellington. The Trade & Exchange site had a heater for sale, but held back listings for a week before publishing them online, and by the time Morgan made contact with the heater's owner, the item in question had already sold.
The site went online in March 1999 after Morgan pulled together as much funding as he could. It gained 155 members in its first week on the Internet. In its early stages Morgan humorously listed Trade Me for sale on eBay with a $1 million buy-now price. Though eBay withdrew Morgan's auction, the prank sparked some interest among New Zealanders who realized the potential of online trading.