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Sam Morgan (entrepreneur)
Encyclopedia
Sam Morgan is best known as the founder of TradeMe
, New Zealand
's largest online auction
site, which he sold in 2006 to Australian media company Fairfax for over NZ$750 million.
, New Zealand
, with his father economist
Gareth Morgan
and mother Jo Morgan a local bus driver. He attended Newtown School, Rongotai College
and Victoria University of Wellington
before opting out in 1995.
in 1999. TradeMe kept him very busy and at one point he was living 200 metres from the main office on Wellington Waterfront. On March 6, 2006, John Fairfax Holdings agreed to buy TradeMe for NZ$700 million, plus another NZ$50 million if financial targets were met over the next two years. Sam Morgan received $227 million (excluding future bonuses), making him one of the richest people in New Zealand overnight.
Morgan is now an investor and advisor to a number of start-up businesses and is also involved with several not-for-profit organisations including Medicine Mondiale
, KOMAZA
and One Acre Fund
. He is also a co-founder of the Pacific Fibre
project, and the chairman of vWorkApp
, a cloud-based dispatch and scheduling product. .
In 2010 Morgan was awarded an Honorary Fellowship of the New Zealand Computer Society
(HFNZCS).
TradeMe
Trade Me is the largest Internet-auction website operating in New Zealand. Managed by Trade Me Ltd the site was founded in 1999 by New Zealand entrepreneurSam Morgan who sold it to Fairfax in 2006 for NZ$700 million...
, New Zealand
New Zealand
New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...
's largest online auction
Online auction business model
The online auction business model is one in which participants bid for products and services over the Internet. The functionality of buying and selling in an auction format is made possible through auction software which regulates the various processes involved.Several types of online auctions are...
site, which he sold in 2006 to Australian media company Fairfax for over NZ$750 million.
Personal history
Morgan grew up in WellingtonWellington
Wellington is the capital city and third most populous urban area of New Zealand, although it is likely to have surpassed Christchurch due to the exodus following the Canterbury Earthquake. It is at the southwestern tip of the North Island, between Cook Strait and the Rimutaka Range...
, New Zealand
New Zealand
New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...
, with his father economist
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
Gareth Morgan
Gareth Morgan (economist)
Gareth Huw Morgan is a New Zealand businessman, economist, investment manager, motor cycle adventurer, public commentator and philanthropist. He is father of Sam Morgan and was an early TradeMe investor and director...
and mother Jo Morgan a local bus driver. He attended Newtown School, Rongotai College
Rongotai College
Rongotai College is an all-boys state secondary school in the south-eastern suburb of Rongotai in Wellington, New Zealand. The students are aged 12 to 19.The decile 6 school has a roll of over 650 students...
and Victoria University of Wellington
Victoria University of Wellington
Victoria University of Wellington was established in 1897 by Act of Parliament, and was a former constituent college of the University of New Zealand. It is particularly well known for its programmes in law, the humanities, and some scientific disciplines, but offers a broad range of other courses...
before opting out in 1995.
Professional history
Morgan worked for IT consultancy Deloitte before leaving to start up TradeMeTradeMe
Trade Me is the largest Internet-auction website operating in New Zealand. Managed by Trade Me Ltd the site was founded in 1999 by New Zealand entrepreneurSam Morgan who sold it to Fairfax in 2006 for NZ$700 million...
in 1999. TradeMe kept him very busy and at one point he was living 200 metres from the main office on Wellington Waterfront. On March 6, 2006, John Fairfax Holdings agreed to buy TradeMe for NZ$700 million, plus another NZ$50 million if financial targets were met over the next two years. Sam Morgan received $227 million (excluding future bonuses), making him one of the richest people in New Zealand overnight.
Morgan is now an investor and advisor to a number of start-up businesses and is also involved with several not-for-profit organisations including Medicine Mondiale
Medicine Mondiale
Medicine Mondiale is an independent development agency headed by Ray Avery focused on improving life for the world's poor by developing products and technologies which have applications in both the developing and developed world markets....
, KOMAZA
KOMAZA
KOMAZA is a social enterprise that develops economic opportunities for smallholder farmers living in East Africa’s unfertile and drought-prone regions...
and One Acre Fund
One Acre Fund
One Acre Fund is an organization that aims to help poor East African farmers emerge from persistent poverty and hunger by increasing their farm-based incomes. They do this by introducing more profitable crops and farming techniques to farmers and by providing farming inputs in exchange for a share...
. He is also a co-founder of the Pacific Fibre
Pacific Fibre
Pacific Fibre is a New Zealand-based company that has proposed to build a trans-Pacific undersea cable that will compete with the Southern Cross Cable operated by Telecom New Zealand.-Notable people:*Mark Rushworth, CEO*Lance Wiggs...
project, and the chairman of vWorkApp
VWorkApp
vWorkApp is an online dispatch and scheduling product for small and medium-sized businesses. The product is sold and distributed over the Internet using a distribution model commonly known as Cloud Computing.- History:...
, a cloud-based dispatch and scheduling product. .
In 2010 Morgan was awarded an Honorary Fellowship of the New Zealand Computer Society
New Zealand Computer Society
The New Zealand Computer Society Inc is a non-profit incorporated society in New Zealand. As New Zealand's ICT professional body, the NZCS exists to promote education and ensure a high level of professional practice amongst ICT professionals....
(HFNZCS).
External links
- TradeMe.co.nz
- Slow burner to online sizzler DominionPost 13 September 2004
- Sam Morgan - the boy's done good NZ Herald article on the sale of TradeMe