This marks the first external investment in Stuff in five years
Russell McVeagh has helped Stuff in relation to its partnership agreement with Trade Me.
Under the agreement, Trade Me picks up a 50% equity stake in Stuff Digital, marking the first external investment in Stuff in the five years since CEO Sinead Boucher took ownership of the company.
“This is the first time I have accepted an equity investment into our business but Trade Me is exactly the right partner at the right time for us. We are both trusted brands, intrinsic to the daily lives of New Zealanders and with a shared commitment to having a positive impact on their lives. Critically, Trade Me understands and respects the vital importance of editorial independence for our journalism and our audiences”, Boucher wrote in a LinkedIn post.
The partnership will also see the rebranding of Stuff’s property section to Trade Me Property. Listings, advertising and selected content will be shared across the Stuff and Trade Me platforms, linking Stuff’s news offering to Trade Me’s focus on property and motoring.
Trade Me CEO Anders Skoe wrote in a LinkedIn post that the deal “brings together two of NZ Aotearoa's most iconic and trusted brands, and two of its largest online audience platforms”.
“It unlocks a long list of commercial opportunities (we're starting with property), and will set us up to deliver even deeper and more engaging experiences to our Kiwi users”, Skoe said.
The Russell McVeagh team consisting of partners Ben Paterson and Troy Pilkington and solicitor Britney Clasper worked with the Stuff team comprising CLO Allison Whitney, Fei Bian Goh and Dale Bridle, as well as with North Ridge Partners’ John Moore and Peter Hynd.
