Trade Me sells Travelbug and BookIt

Announcement: Trade Me 5 December 2016 Trade Me sells Travelbug and BookIt Trade Me has sold its accommodation website Travelbug and online booking engine BookIt to Travel Booking Services 2016 LP ("TBS"), a limited partnership with investors that include the founders of the successful Torpedo7 and 1-day ecommerce businesses. The sale price is confidential. Travelbug was launched by Trade Me in 2007, and BookIt was acquired in 2010. Trade Me CEO Jon Macdonald said the sale was the best option for Trade Me and the businesses' customers. "It's difficult for us to justify prioritising time and money for Travelbug and BookIt given the other opportunities we have across Trade Me. The TBS team have considerable experience in large-scale ecommerce businesses, and we wish them all the best." -ends- Contact: Jeff Hunkin & Logan Mudge, Trade Me Ph 04 803 2601 or email mediaenquiries@trademe.co.nz End CA:00293786 For:TME Type:ASSET Time:2016-12-05 15:33:26