F2 sells Sold to Yahoo

The aggregate value of the deal is around $30 million, mostly in cash. A spokesperson for Yahoo said money flowed both ways in the deal, however the companies would not be disclosing specific details.

Speculation has mounted in recent days that f2 was looking to pull out of the auction game as eBay, a joint venture locally between Kerry Packer's Ecorp and eBay, has gained ascendency in the market. Only yesterday, an Ecorp official claimed eBay had grown revenues by 207 per cent and would reach profitability next year.

And as late as last week, f2 executives were still dismissing talk of a sale of Sold.com.au as "old news and speculation".

In a statement released yesterday, Tony Faure, Yahoo Australia's managing director, said, "By leveraging our global network and resources with Sold's local auction expertise, CitySearch's strong sales force and f2's Domain.com.au real estate offerings, we hope to make Yahoo Australia & NZ an essential source for conducting online transactions and deliver an unparalleled internet experience to the marketplace."

Nigel Dews, the chief executive officer of f2, said: "We have built a very strong business in Sold.com.au, which will now be taken by a leading global brand to the next stage in its growth, and benefit Sold's buyers and sellers. Moving forward, we will build our businesses in CitySearch print and online directories, our classified supersites, and financial services, while continuing to distribute Sold.com.au on the f2 network."

Gross merchandise sales on sold.com.au for the period of July to December 2000 was just shy of A$12 million, according to Yahoo.

Yahoo and f2 have also entered into a strategic sales arrangement involving the f2 CitySearch directories, including the sale of co-branded Yahoo stores to CitySearch's business customers via CitySearch's sales force, and the distribution of f2's Domain.com.au real estate content on Yahoo Australia & NZ.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?