Morgan invests in SLI Systems

ALAN WOOD
Last updated 05:00 31/01/2013
sam morgan
SLI SYSTEMS INVESTOR: Sam Morgan.

Relevant offers

Industries

We won't own cars any more - we'll share them, forecasts Toyota NZ boss Pound falls to 30-year low against US dollar amid anti-global sentiment Maersk shipping line changes NZ route Revamped Smith's City pushes into profitable Auckland International hotel Sofitel Wellington fights $350k development fee - and succeeds Taranaki engineers need to 'get creative' to survive Fiat Chrysler accused of concealing defect in Jeep Grand Cherokee Countdown harnessing the skills of older workers Duncan Garner: Tax the tourist tsunami and give us citizens a break APN settles New Zealand tax dispute with Inland Revenue

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.

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content