New strategy manager for Trade Me

Mike DelPrete

Mike DelPrete is joining listed online auction side Trade Me as its new strategy manager.

He is coming from New York, where he has most recently been chief executive of Agora Games, a technology business that builds software for online gaming communities. He has also been acting as an advisor to start-up companies. He is an experienced entrepreneur, including founding Agora Games in 2005, which he then sold to New York City-based Major League Gaming Inc in 2009.

Trade Me chief executive Jon Macdonald said Mr DelPrete will have have responsibility for "developing a pipeline of new interesting ventures for us to consider, as well as coordinating Trade Me’s overall corporate strategy". 

He starts at Trade Me immediately.

Trade Me shares [NZX:TME] were flat at $2.89 in late morning trading.

The company listed at $2.70 on December 13.

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4 Comments & Questions

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This is not a surprise.

TME has had only modest growth in its share price since it launched around 2 months ago.

Nice revenue, but I don't see a vision at the top of the company.

The stench of Fairfax lingers over the stock, waiting to extract more large dividends or cash back to them (and other shareholders), even though that may not be in small shareholders interests.

So now it seems the online sales company will be buying other companies to help fuel growth.

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The vision of TME is surely lacking if they hired this guy. What is the value add here? I am placing my stock option elsewhere not with this yobbo.

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