Carsales.com buys OZtion for $1.1m

FirstPageResults · #1 30-08-10, 12:39 PM

Quote:

Current owner, Australian Stock Exchange Listed (ASX) listed Jumbuck Entertainment, said that OZtion no longer make sense given its new strategic focus on mobile technologies.
Given that Jumbuck bought OZtion from its owners just two years ago in a $2million cash and share deal, it may also be the case that the little Aussie auction site wasn’t actually contributing anything to Jumbuck’s profits.

http://www.ecommercereport.com.au/?p=1114

Seems they are making a move into selling parts and accessories..

WG2010 · #2 30-08-10, 01:15 PM

Wow, now that's interesting! Only thing that would worry me is the hype surrounding auction sites has really died down over the past few years. It will be interesting to see what CarSales does with the site over the coming months/years.

Max · #3 30-08-10, 07:03 PM

Quote:

Originally Posted by FirstPageResults

http://www.ecommercereport.com.au/?p=1114

Seems they are making a move into selling parts and accessories..

I would think that the longer term goal is to move into online car auctions .. they have purchased the machinery to drive such an auction .. they have the traffic to help it succeed .. it's a natural move for CarSales.com.au they could easily give Ebay car auctions a run for their money ..

Honan · #4 30-08-10, 09:35 PM

Quote:

Originally Posted by Max

I would think that the longer term goal is to move into online car auctions .. they have purchased the machinery to drive such an auction .. they have the traffic to help it succeed .. it's a natural move for CarSales.com.au they could easily give Ebay car auctions a run for their money ..

Considering the CEO explicitly denied they would be auctioning cars, you are probably right

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