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Gumtree acquired by The Market Herald
Luxury marketing and media company The Market Herald has acquired Gumtree Australia, Autotrader Australia and Carsguide in a deal worth $86 million.
Lauren Croft
Firm: Clayton Utz (The Market Herald)
Value: $86 million
Area: Merger and acquisition
Key players: Clayton Utz partner Mark Paganin is leading the team together with partner David Gerber, partner Rohan Mishra and senior associate Jackie Leggett, as well as lawyers Tyson Ginn and William Colreavy.
Deal significance: The Gumtree, Carsguide and Autotrader platform is one of the largest digital communities in Australia. Gumtree is used by one in three Australians and 10 million households every month. With over 100,000 new listings every day, 3.5 million registered users and six million app downloads, for 15 years, Gumtree has been the number one place where Australians buy and sell.
Gumtree Autos, Carsguide and Autotrader are together the number two automotive marketplace in Australia. The number of car listings and site traffic are nearing parity with the number one automotive marketplace.
The Market Herald managing director Jag Sanger commented: “The Gumtree, Carsguide and Autotrader platform is one of the largest digital communities in Australia. Gumtree is part of life for millions of Australians, and there are many opportunities to add more products and services, creating and end to end digital offer. In addition, the Gumtree, Carsguide and Autotrader proposition is the leading challenger to the $6 billion marcap automotive listings incumbent and there are many opportunities to close the gap.”
Lauren Croft
Lauren is a journalist at Lawyers Weekly and graduated with a Bachelor of Journalism from Macleay College. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications and Travel Weekly. Originally born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. She is also a keen snowboarder and pre-pandemic, spent a season living in a French ski resort.
