Thursday, June 02, 2005

eBay buys for $620 million

Via InfoWorld.

eBay continued its acquisition spree by agreeing to buy comparison shopping site for about $620 million in cash. The move should benefit eBay's sellers by giving them access to a new sales channel and a new set of buyers, while will be improved by the addition of eBay's listings on its site. eBay had annual revenue of $3.3 billion in 2004, and net income of $778.2 million. In the same year made $99 million in revenue and net income of $12.2 million. But has been adding customers at a faster clip, according to research company comScore Media Metrix. It attracted 22.6 million unique visitors in April, up 15 percent from the same month a year earlier, compared with 63.8 million for eBay, an increase of 6 percent over the same period. In December eBay agreed to buy property listings site for $415 million, and a month before that it bought Holland's top classifieds site,, for $290 million. Earlier last year it acquired a 25-percent stake in Craigslist of San Francisco, beefing up its classifieds business.


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