The Market Herald’s series of redundancies following acquisition of Gumtree, Carsguide and Autotrader

Calum Jaspan

October 14, 2022 10:20

ASX listed The Market Herald (TMH) has made a series of redundancies as part of a “transformation”, following the completion of its deal to acquire Gumtree, Carsguide and Autotrader last week as part of its major expansion into digital classifieds advertising, Mumbrella can reveal.

Managing director of TMH, Jag Sanger told Mumbrella the company “is excited to build the largest digital community of buyers and sellers in Australia” after purchasing 100% of the three companies for $86.7million.

Jag Sanger

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Calum Jaspan

Calum Jaspan was news editor at Mumbrella, based in Melbourne. He was also the producer and host of the Mumbrellacast. He left Mumbrella in May 2023.

Topics

Autotrader Carsguide Gumtree Australia Jag Sanger The Market Herald

2 COMMENTS

James Burnett 14 Oct 22

How does that work? How do you pay $86m for a business and only be worth $110m? I don’t get it. Something doesn’t seem right there. How do you fund such a transaction without running into serious strife?

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Keith George 15 Oct 22

Unfortunately for them most of the people that built the Carsguide business had already been squeezed out by the over inflated egos at Gumtree.

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