Tradus
Encyclopedia
Tradus is an online auction company
that operates in Europe
. The company, a subsidiary
of South Africa
n media group Naspers
since March 2008, operates across Europe using many different brands. Its flagship Allegro is by far the most popular auction site in Poland
.
journalist Tim Jackson and has operations in major European markets.
In 1999, QXL was simultaneously floated on the London Stock Exchange
as well as the Nasdaq
exchange in New York. Also in 1999 the company secured the rights to sell off pieces of the famous Wembley Stadium, which was being demolished and rebuilt. QXL also managed to prise Hugh Scully
, host of Antiques Roadshow
, away from the BBC
to front its antiques business.
In November 2000, QXL merged with its European rival ricardo.de of Germany. The new company was named QXL ricardo and remained based in London.
Late in 2000, QXL became the first British member of an elite gang of dotcom
s which saw their stock lose 99 per cent of their value, shares which were valued at £8.00 being worth only 6.5p. However later this trend was reversed and in 2005 the share was ranked as the best performing on the LSE
In December 2002, a dispute over ownership of QXL Poland arose. In June 2006 the conflict was settled with QXL Poland returning under full ownership of the Group.
In November 2004 QXL's shareholders received two offers of acquisition from Tiger Acquisition (set up by Great Hill Funds and the existing management to make the offer) and Florissant. In the end, Florissant and a group of Israeli investors each ended up with large shareholdings and the company remained publicly listed on the London Stock Exchange.
On the 7th November 2007, after a sharp rise in the company's share price, the company announced that it had received a preliminary approach from a potential bidder who was unnamed. Intense press speculation arose as to who the potential bidder may be. This was further supported by various press articles in mid-December announcing that the potential purchaser was the South African media company Naspers
, reportedly paying in the region of £17 per share or about £750 million.
The offer to take over Tradus was formally announced on 18 December 2007 at £18 per share, valuing the company at some £946 million.
On 21 November 2007 the company announced that it had received permission from its shareholders to change the name to Tradus plc.
The acquisition of Tradus by Naspers was concluded on 7 March 2008, when the company was delisted from the London Stock Exchange
.
On 6 May 2008 it was announced that the UK QXL site would close on 30 May 2008.
. Therefore it tends to concentrate in countries where eBay is either not present nor is the market leader and where Tradus is (or can be) market leader. On 1 August 2009, ricardo.ch, one of Tradus AG's subsidiaries, will launch a new marketplace for classifieds, under the name of tradus.ch following eBay
's approach, when it launched kijiji
in 2005.
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...
that operates in Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
. The company, a subsidiary
Subsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
of South Africa
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
n media group Naspers
Naspers
Naspers is a South Africa-based multinational media company with principal operations in electronic media and print media Naspers is a South Africa-based multinational media company with principal operations in electronic media (including pay-television, internet and instant-messaging subscriber...
since March 2008, operates across Europe using many different brands. Its flagship Allegro is by far the most popular auction site in Poland
Poland
Poland , officially the Republic of Poland , is a country in Central Europe bordered by Germany to the west; the Czech Republic and Slovakia to the south; Ukraine, Belarus and Lithuania to the east; and the Baltic Sea and Kaliningrad Oblast, a Russian exclave, to the north...
.
History
Tradus (formerly QXL) was founded in London in 1997 by Financial TimesFinancial Times
The Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
journalist Tim Jackson and has operations in major European markets.
In 1999, QXL was simultaneously floated on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
as well as the Nasdaq
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
exchange in New York. Also in 1999 the company secured the rights to sell off pieces of the famous Wembley Stadium, which was being demolished and rebuilt. QXL also managed to prise Hugh Scully
Hugh Scully
Hugh Scully , is a British television presenter. He is best known as the host of the BBC show Antiques Roadshow from 1981 to 2000.Scully joined the BBC in 1965 as a freelance journalist...
, host of Antiques Roadshow
Antiques Roadshow
Antiques Roadshow is a British television show in which antiques appraisers travel to various regions of the United Kingdom to appraise antiques brought in by local people. It has been running since 1979...
, away from the BBC
BBC
The British Broadcasting Corporation is a British public service broadcaster. Its headquarters is at Broadcasting House in the City of Westminster, London. It is the largest broadcaster in the world, with about 23,000 staff...
to front its antiques business.
In November 2000, QXL merged with its European rival ricardo.de of Germany. The new company was named QXL ricardo and remained based in London.
Late in 2000, QXL became the first British member of an elite gang of dotcom
Dot-com company
A dot-com company, or simply a dot-com , is a company that does most of its business on the Internet, usually through a website that uses the popular top-level domain, ".com" .While the term can refer to present-day companies, it is also used specifically to refer to companies with...
s which saw their stock lose 99 per cent of their value, shares which were valued at £8.00 being worth only 6.5p. However later this trend was reversed and in 2005 the share was ranked as the best performing on the LSE
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
In December 2002, a dispute over ownership of QXL Poland arose. In June 2006 the conflict was settled with QXL Poland returning under full ownership of the Group.
In November 2004 QXL's shareholders received two offers of acquisition from Tiger Acquisition (set up by Great Hill Funds and the existing management to make the offer) and Florissant. In the end, Florissant and a group of Israeli investors each ended up with large shareholdings and the company remained publicly listed on the London Stock Exchange.
On the 7th November 2007, after a sharp rise in the company's share price, the company announced that it had received a preliminary approach from a potential bidder who was unnamed. Intense press speculation arose as to who the potential bidder may be. This was further supported by various press articles in mid-December announcing that the potential purchaser was the South African media company Naspers
Naspers
Naspers is a South Africa-based multinational media company with principal operations in electronic media and print media Naspers is a South Africa-based multinational media company with principal operations in electronic media (including pay-television, internet and instant-messaging subscriber...
, reportedly paying in the region of £17 per share or about £750 million.
The offer to take over Tradus was formally announced on 18 December 2007 at £18 per share, valuing the company at some £946 million.
On 21 November 2007 the company announced that it had received permission from its shareholders to change the name to Tradus plc.
The acquisition of Tradus by Naspers was concluded on 7 March 2008, when the company was delisted from the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
.
On 6 May 2008 it was announced that the UK QXL site would close on 30 May 2008.
European operations
Tradus operates a business model similar to eBayEBay
eBay Inc. is an American internet consumer-to-consumer corporation that manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide...
. Therefore it tends to concentrate in countries where eBay is either not present nor is the market leader and where Tradus is (or can be) market leader. On 1 August 2009, ricardo.ch, one of Tradus AG's subsidiaries, will launch a new marketplace for classifieds, under the name of tradus.ch following eBay
EBay
eBay Inc. is an American internet consumer-to-consumer corporation that manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide...
's approach, when it launched kijiji
Kijiji
Kijiji is a centralized network of online urban communities for posting local online classified advertisements. It is a subsidiary of eBay launched in March 2005. Kijiji websites are currently available for more than 300 cities in Germany. Further Kijiji countries and regions are Canada, France,...
in 2005.
| Country | Brand name | Web Address |
| Ukraine Ukraine Ukraine is a country in Eastern Europe. It has an area of 603,628 km², making it the second largest contiguous country on the European continent, after Russia... |
| Aukro | | http://www.aukro.ua |
| Bulgaria Bulgaria Bulgaria , officially the Republic of Bulgaria , is a parliamentary democracy within a unitary constitutional republic in Southeast Europe. The country borders Romania to the north, Serbia and Macedonia to the west, Greece and Turkey to the south, as well as the Black Sea to the east... |
| Aukro | | http://www.aukro.bg |
| Czech Republic Czech Republic The Czech Republic is a landlocked country in Central Europe. The country is bordered by Poland to the northeast, Slovakia to the east, Austria to the south, and Germany to the west and northwest.... |
| Aukro | | http://www.aukro.cz |
| Denmark Denmark Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark... |
| QXL | | http://www.qxl.dk |
| Greece Greece Greece , officially the Hellenic Republic , and historically Hellas or the Republic of Greece in English, is a country in southeastern Europe.... |
| ricardo | | http://www.ricardo.gr |
| Hungary Hungary Hungary , officially the Republic of Hungary , is a landlocked country in Central Europe. It is situated in the Carpathian Basin and is bordered by Slovakia to the north, Ukraine and Romania to the east, Serbia and Croatia to the south, Slovenia to the southwest and Austria to the west. The... |
| TeszVesz | | http://www.teszvesz.hu |
| Norway Norway Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million... |
| QXL | | http://www.qxl.no |
| Poland Poland Poland , officially the Republic of Poland , is a country in Central Europe bordered by Germany to the west; the Czech Republic and Slovakia to the south; Ukraine, Belarus and Lithuania to the east; and the Baltic Sea and Kaliningrad Oblast, a Russian exclave, to the north... |
| Allegro otoMoto otoDom Ceneo PayU PayGSM Platnosci iStore |
| http://www.allegro.pl http://www.otomoto.pl http://www.otodom.pl http://www.ceneo.pl http://www.payu.pl http://www.paygsm.pl http://www.platnosci.pl http://www.istore.pl |
| Slovakia Slovakia The Slovak Republic is a landlocked state in Central Europe. It has a population of over five million and an area of about . Slovakia is bordered by the Czech Republic and Austria to the west, Poland to the north, Ukraine to the east and Hungary to the south... |
| Aukro | | http://www.aukro.sk |
| Switzerland Switzerland Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition.... |
| ricardo tradus.ch |
| http://www.ricardo.ch http://www.tradus.ch |
| Romania Romania Romania is a country located at the crossroads of Central and Southeastern Europe, on the Lower Danube, within and outside the Carpathian arch, bordering on the Black Sea... |
| TIZO TrendZone Autovit Mercador Compari |
| http://www.tizo.ro http://www.trendzone.ro http://www.autovit.ro http://www.mercador.ro http://www.compari.ro |
| Russia Russia Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects... |
| Molotok | | http://www.molotok.ru |
| Estonia Estonia Estonia , officially the Republic of Estonia , is a state in the Baltic region of Northern Europe. It is bordered to the north by the Gulf of Finland, to the west by the Baltic Sea, to the south by Latvia , and to the east by Lake Peipsi and the Russian Federation . Across the Baltic Sea lies... |
| OSTA.EE | | http://www.osta.ee |
| United Kingdom United Kingdom The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages... |
| QXL | | http://www.qxl.co.uk |
Acquisitions
| Company | Purchase price | Date |
| Humpty Dumpty/eSwap | £3.1 million | July 1999 |
| QXL Auksjon Norge AS | £13.2 million | December 1999 |
| QXL Denmark ApS | £6.6 million | January 2000 |
| QXL Poland Sp. z o. o. | $75,000 | March 2000 |
| ibilive NV | £6.8 million | April 2000 |
| Idefi SA | £2.5 million | April 2000 |
| Bidlet AB | £62.2 million | June 2000 |
| ricardo.de AG | £44.8 million | November 2000 |
| Aucland.fr | nil | July 2002 |
| Ceneo SA | £732,000 | December 2006 |
| Molotok.ru | £1.5 million | October 2007 |
| Trendsales.dk | £12+ million (estimated) | November 2010 |