Morgan invests in SLI Systems
Trade Me founder Sam Morgan has invested $1 million in new equity in Christchurch-based software provider SLI Systems.
SLI co-founder and chief executive Shaun Ryan said the equity would be used to boost employee numbers and growth for the company, which provided search and navigation services for websites, particularly in the retail sector.
He had met Morgan at a Morgo Conferences entrepreneurship event, organised by Jenny Morel, in Queenstown in September and talked about opportunities.
The equity transaction had been agreed in late December 2012 after discussions.
Morgan said the potential for growth in global on-line sales made SLI Systems an exciting investment. "Online sales are such an important segment for all retailers now and SLI simply helps customers find things and buy them more easily," he said.
Since selling Trade Me, Morgan has been involved in a number of other investments including sharemarket darling Xero, though he has sold down some of his stake in that company.
- © Fairfax NZ News