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.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.
Show Comments

Cool Tech

Toys for Boys

Family Friendly

Stocking Stuffer

SmartLens - Clip on Phone Camera Lens Set of 3

Learn more >

Christmas Gift Guide

Click for more ›

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

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

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?