They have done well, as they have a good business model which they execute well. Greg Roebuck understands the internet and domain names, and uses it to his advantage, unlike other CEOs. Many of you will see Roebuck buying domains on the drops.
The problem in the sector is that there is no strong competition (apologies to my mate at Trading Post!), having used the site in the past, listing a car has gone from about $50 to over $100!! This really leaves the door open for a competitor......
I am surprised that REA who also has a great business model with realestate.com.au has not jumped into this market.